Trading ideas: Perak Corp, Hartalega, Euro Holdings


KUALA LUMPUR: Perak Corp Bhd, Hartalega Holdings Bhd and Euro Holdings Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

Perak Corp, whose Movie Animation Park Studios (MAPS) theme park in Ipoh was closed last month until further notice, has lapsed into Practice Note 17 (PN17) status.

Hartalega posted a marginal 1.27% increase in its latest quarterly net profit to RM121.27mil, from RM119.76mil a year earlier, thanks to higher sales volume.

Its revenue for the third quarter ended Dec 31,2019 rose 10.11% to RM796.55mil, from RM723.39mil

SPA Furniture (M) Sdn Bhd has emerged as the largest shareholder with a 51% stake in office furniture maker and property developer Euro Holdings, triggering a mandatory general offer (MGO) for the shares they do not own.

With the acquisition, the offeror or joint ultimate offerors are obliged to extend the MGO at the same price of 20 sen apiece.

Meanwhile, US markets ended mixed with the S&P and Nasdaq eking out record high levels following a statement by the Federal Reserve chairman.

Earlier, European stocks advanced as investors continue to monitor the coronavirus' impact on China's economy.

“Following the mixed performances in the US and Europe, the FBM KLCI could hover sideways below the resistance of 1,570 points, ” JF Apex said.

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Perak Corp , Hartalega , Euro Holdings

   

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