Trading ideas: Paramount, Careplus, Genting Malaysia, MISC, Uzma

  • Analyst Reports
  • Thursday, 06 Feb 2020

KUALA LUMPUR: Paramount Corp Bhd, Careplus Group Bhd, Genting Malaysia Bhd, MISC Bhd and Uzma Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Paramount has purchased a 49% equity interest in a Bangkok-based property development company for THB 60,270,000 (RM8.44mil), marking its entry into Thai property development.

Careplus will sell 50% of its loss-making unit Careplus (M) Sdn Bhd (CMSB) to Ansell Services (Asia) Sdn Bhd for RM26.81mil cash as part of a joint venture deal between the two companies.

Genting Malaysia’s unit Resorts World Genting continues to operate as normal amid the Wuhan coronavirus outbreak, but has cancelled all tour bookings from China for the month of February.

MISC has won a contract worth US$525.6mil (RM2.16bil) from Petrobras to own and operate three newbuilding Suezmax DP2 shuttle tankers for operations in Brazilian and international waters.

Uzma is buying another 22% stake in Setegap Ventures Petroleum Sdn Bhd for RM52.8mil, which will increase its shareholding in the company to 86%.

Meanwhile, US markets rallied overnight with the S&P hitting record high following gains in energy, banking and healthcare counters as investors shrug off concerns over the coronavirus outbreak.

Similarly, European stocks advanced, led by the automotive sector, after the euro zone PMI figures beat estimates.

“Following the rebound in global markets, the FBM KLCI could follow suit and climb towards the resistance of 1,550 points, ” JF Apex said.

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