Trading ideas: Sunway, Taliworks, DRB-Hicom, GFM

  • Analyst Reports
  • Wednesday, 08 Jan 2020

KUALA LUMPUR: Stocks to watch on Wednesday include Sunway Property, Taliworks Corp Bhd, DRB-HICOM BHD and GFM Services Bhd, according to JF Apex Research.

Sunway is targeting RM2bil in sales, while launching RM3.5bil worth of properties this year.

Taliworks clarified that its receivables due from Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) was sold to special purpose vehicle (SPV) Starbright Capital Bhd, for RM660mil.

DRB-HICOM has inked two agreements which will see its involvement in the collaboration and development of automotive testing.

The group said its indirect subsidiary Perusahaan Otomobil Nasional Sdn Bhd (owned by Proton Holdings Bhd) had inked a memorandum of understanding (MoU) with China Automotive Technology and Research Centre Co Ltd (CATARC) to collaborate in the field of automotive testing, research and development, as well as to maximise the resources of China and Malaysia’s automotive industry.

GFM has proposed to raise up to RM19.75mil via a private placement of up to 10% of its total issued shares to third party investors to be identified later.

Meanwhile, US markets tumbled overnight amid rising geopolitical tension with Iran while ISM non-manufacturing index beat economists' expectation.

The Dow Jones Industrial Average shed 0.4%, at 28,583.6, while the S&P 500 SPX lost 0.3% at 3,237.18. The Nasdaq Composite Index gave up 2.88 points to 9,068.58.

Earlier, European stocks declined on US-Iran geopolitical concerns.

“Following the escalation of the US-Iran tension, the FBM KLCI could be negative today with support at 1,585 points, ” JF Apex said.

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Sunway , DRB-Hicom , Taliworks


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