Trading ideas: Bioalpha, Press Metal, UWC, Bintulu Port, AirAsia, Uzma

  • Analyst Reports
  • Friday, 05 Jun 2020

KUALA LUMPUR: Bioalpha Holdings Bhd, Press Metal Aluminium Holdings Bhd, UWC Bhd, Bintulu Port Holdings Bhd, AirAsia Group Bhd and Uzma Bhd are among the stocks to watch on Friday, according to JF Apex Research.

Bioalpha has proposed a private placement exercise to raise up to RM14.2mil for the expansion and improvement in its digitalisation of business.

Press Metal’s net profit for the first quarter ended March 31, 2020 fell 11% year-on-year on lower aluminium prices.

UWC reported a 65% jump in its latest quarterly net profit on the back of stronger demand from semiconductor customers globally.

Bintulu Port has awarded a RM50.8mil million ontract for maintenance dredging work at Bintulu port.

AirAsia is evaluating proposals for raising capital to strengthen its equity base and liquidity. It also has ongoing deliberations with a number of parties for joint-ventures and collaborations that may result in additional investments in specific segments of the group's business.

Uzma has secured an RM12mil contract from Indonesian State-owned oil and natural gas company, PT Pertamina.

ACO is collaborating with health technology solutions provider, Prima Nexus Sdn Bhd (Prima Nexus) to distribute COVID-19 rapid test kits.

Telekom Malaysia and KLCCP were named as component stocks of Bursa Malaysia KLCI, following the bi-annual review of the index series, whilst AMMB and MAHB were out of the benchmark index.

Cypark Resources is planning to issue up to RM500mil Islamic medium term notes with no maturity date (Sukuk Musharakah), as it seeks fresh funds for its renewable energy projects.

Meanwhile, US markets ended flat with the Dow closing slightly higher while the Nasdaq and S&P declined after jobless claims were worse than expected.

Earlier, European stocks closed lower after the European Central Bank announced a larger-than-expected stimulus program.

“Following the negative performances in the US and Europe, the FBM KLCI could pull back from recent gains with support at 1,550 points,” JF Apex said.

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Press Metal , UWC , AirAsia , Uzma


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