Trading ideas: United Plantations, Kimlun, UEM Sunrise, Aeon, Ann Joo

KUALA LUMPUR: Stocks to watch on Tuesday include United Plantations Bhd, Kimlun Corp Bhd, UEM Sunrise Bhd, Aeon Co (M) Bhd and Ann Joo Resources Bhd, according to JF Apex Research.

United Plantations is to undertake a bonus issue of 208.13 million shares on the basis of one bonus share for every existing share held.

Upon completion of the bonus issue, its enlarged issued share capital will be RM390.05mil comprising 416.27 million shares.

Separately it has declared combined final and special dividends amounting to RM1.05 per share.

Kimlun’s has secured a RM92.49mil apartment construction job in Johor.

UEM Sunrise’s net profit for the fourth quarter ended Dec 31,2019 surged six-fold to RM126.25mil from RM19.75mil, largely due to gain from divestment.

Tiong Nam, Excel Force, OpenSys, KAB, Hap Seng Plantations have posted higher year-on-year quarterly profits, while Aeon, Ann Joo, Globetronics, Guan Chong, Lay Hong, Press Metal, Wellcall recorded lower year-on-year quarterly results.

Meanwhile, US markets plunged over 3% overnight following fears of prolonged global economic slowdown as more cases of the coronavirus are reported outside China.

Similarly, European stocks tumbled, dragged by airlines and travel companies on concerns that the virus is spreading in Italy.

“Following the bearish sentiment caused by the pandemic and the political uncertainty locally, the FBM KLCI remain pressured with support at 1,450 points, ” JF Apex said.