Trading ideas: Tropicana, XOX, DGB Asia


KUALA LUMPUR: Tropicana Corp Bhd, XOX Bhd and DGB Asia Bhd are among the stocks to watch on Friday, according to JF Apex Research.

Tropicana has proposed an RM1.5bil Islamic Medium-Term Notes programme (Sukuk Wakalah) to repay borrowings to unencumbered secured properties.

The proceeds will also be used for capital expenditure, investments and working capital.

XOX’s wholly-owned XOX Media Sdn Bhd has signed a Memorandum of Understanding with DGB Networks Sdn Bhd, a wholly-owned subsidiary of DGB Asia, to collaborate in the deployment of up to 1,000 artificial intelligence (AI) vending machines

XOX said the collaboration is in line with its strategy to focus on different silos of its business to create more revenue streams, while providing synergies to its core business of being a mobile virtual network operator (MVNO), with the potential expansion of its dealers base and retail footprint.

Meanwhile, US markets climbed overnight amid jobless claims data and easing concern over the coronavirus.

The Dow Jones Industrial Average closed 33.33 points higher, or 0.1%, at 23,537.68. The S&P 500 gained 0.6% to close at 2,799.55 while the Nasdaq Composite advanced 1.7% to 8,532.36.

Earlier, European stocks advanced as countries began to plan their exit from the coronavirus lockdown.

Following the positive performances in the US and Europe, JF Apex said the FBM KLCI could remain buoyed with resistance at 1,415 points.

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Tropicana , XOX , DGB Asia

   

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