Trading ideas: YTL Power, Aeon Credit, Telekom, Malakoff, Pestech


  • Analyst Reports
  • Friday, 13 Mar 2020

KUALA LUMPUR: YTL Power International Bhd, AEON Credit Service (M) Bhd, Telekom Malaysia Bhd, Malakoff Corp Bhd and Pestech International Bhd are among the stocks to watch on Friday, according to JF Apex Research.

YTL Power’s wholly-owned subsidiary YTL PowerSeraya Pte Ltd is acquiring Tuaspring Pte Ltd’s power plant and associated assets in Singapore for S$331.45mil.

Aeon Credit issued subordinated sukuk or Islamic bonds with a nominal value of RM200mil, under the financial services provider’s RM2bil sukuk programme.

Telekom Malaysia has partnered VMware Malaysia Sdn Bhd to kick off the tGRID project, an initiative to transform the existing cloud platform to TM ONE Cloud Solutions, which caters to an end-to-end cloud platform.

Malakoff’s subsidiary Tanjung Bin Energy Sdn Bhd (TBE) has commenced arbitration against the contractor, saying there were multiple breaches of contractual duties.

Pestech has terminated a Memorandum of Understanding to explore the possibility of participating in waste-to-energy (WTE) development projects in Cu Chi, Vietnam.

Meanwhile, US markets plunged nearly 10% overnight after triggering the circuit breaker as fears of coronavirus intensified.

The S&P 500 plummeted 9.5% in its worst day in more than three decades Thursday, joining the Dow in a bear market, or more than 20% from its recent peak. The Dow also suffered its worst point drop ever and the biggest percentage decline since 1987.

Similarly, European stocks tanked 11% after the European Central Bank did not cut interest rates as expected by the market.

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YTL Power , Telekom , Malakoff

   

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