Trading ideas: Ho Wah Genting, Minetech, Rohas Tecnic, Gamuda, Genting Malaysia, Icon


  • Analyst Reports
  • Monday, 18 May 2020

KUALA LUMPUR: Stocks to watch on Monday include Ho Wah Genting Bhdusiness/marketwatch/stocks/?qcounter=GENTING' target='_blank'>Genting Bhd, Minetech Resources Bhd, Rohas Tecnic Bhd, Gamuda Bhd, Genting Malaysia Bhd and Icon Offshore Bhd, according to JF Apex Research.

The research house also expects Kronologi Asia Bhd, Malayan Flour Mills Bhd (MFM), Malaysian Genomics Resources Centre, Pentamaster Corp Bhd and Petra Energy Bhd to see trading interest following their latest corporate results.

Ho Wah Genting’s unit HWG Consortium Sdn Bhd will be a distributor of China’s Shanghai Liangrun Biomedicine Technology Co Ltd’s Covid-19 diagnostic kit in Malaysia until the end of the year.

Minetech Resources won a RM30.4mil subcontract to build the 36-classroom SMK Pelangi Perdana secondary school in Parit Buntar, Perak.

Rohas Tecnic has bagged a RM102mil contract from the Power Grid Company of Bangladesh Ltd to supply transmission lines in that country.

Market talk has it that the plan by Gamuda and its 43.6% publicly traded unit Litrak to divest its highways to the government for RM6.2bil may have been aborted.

Construction and Building Material counters could be under investors’ radar as the KL-Singapore High Speed Rail (HSR) project, which was suspended in mid-2018, will be revived soon, based on a local news report.

Genting Malaysia wants Miami-Dade county in the US to fund a US$770mil (RM3.35bil) monorail system, linking Miami mainland with South Beach.

The group and its partners (which include Meridiam, the company behind the PortMiami tunnel) have proposed to build and operate the 6.44km “Miami Beach Monorail” and turn over fare revenue to the country authority, in exchange for yearly payments of US$59.4 million over 30 years.

Icon Offshore reported a 1QFY20 net profit of RM20.36mil against a net loss of RM7.64mil a year earlier, due to one-off gains from its debt restructuring exercise and higher revenue.

Kronologi Asia saw a net loss of RM11.24mil in 1QFY20, from a net profit of RM3.69mil a year earlier, as it recognised an RM11.64mil one-time non-cash impairment “out of prudence” on property, plant and equipment amid the economic slowdown and uncertainties induced by Covid-19.

Malayan Flour Mills posted a net loss of RM16.79mil for 1QFY20, from a net profit of RM19.87mil a year prior, following losses from its poultry integration business and Indonesian joint venture.

Malaysian Genomics Resources Centre saw Khazanah Nasional Bhd ceasing to be a major shareholder.

Pentamaster’s 1QFY20 net profit fell 14.28% year-on-year, following its revenue being hit by travelling restrictions amid the Covid-19 outbreak.

Petra Energy has slipped into the red in 1QFY20 after five profitable quarters. It posted a net loss of RM20.75mil from a net profit of RM1.72mil last year, as it faced upstream activities revision.

On Friday, US markets ended slightly higher after better-than-expected consumer sentiment data. European stocks also registered small gains amid improved market sentiment and lower GDP figures.

“Following the positive performances in the US and Europe, the FBM KLCI could retest its resistance of 1,415 points,” JF Apex said.

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