Trading ideas: OCR, GDB, FGV, Ranhill Utilities, Muar Ban Lee


  • Analyst Reports
  • Monday, 22 Jun 2020

KUALA LUMPUR: JF Apex Research expects Key Alliance Group Bhd, OCR Group Bhd, FGV Holdings Bhd, Ranhill Utilities Bhd, GDB Holdings Bhd and Muar Ban Lee Group Bhd to be among the stocks to watch on Monday.

Key Alliance has obtained first stage approval to be legally allowed to market, distribute and sell the Care Gene Covid-19 Polymerase Chain Reaction (PCR) test kits manufactured by Well Bio Inc, Korea.

OCR’s 40%-owned associate company Landasan Surimas Sdn Bhd has inked an agreement with Perbadanan Kemajuan Negeri Pahang to set up a 70:30 joint venture named Taraf Raya to provide mechanical and civil works relating to the East Coast Rail Link (ECRL) project within Pahang.

GDB's net profit for 1QFY20 fell 18.7% year-on-year, due to higher profit recognition from completed projects in the preceding financial period, lower interest income, and higher administrative and other expenses incurred for the current financial period under review.

FGV is hopeful of posting positive results for FY20, despite a challenging first quarter which saw its plantation segment swing to a loss.

Also, the group said it will continue divesting its non-core assets with a target of RM150mil sale proceeds this year. These include the planned sale of Trurich Resources Sdn Bhd and Asian Plantations Ltd.

Ranhill Utilities has proposed a secondary listing on the Main Board of the Singapore Exchange. The exercise will allow the group, formerly known as Ranhill Holdings Bhd, to access additional platforms for future fundraising to finance the company's regional expansion.

Muar Ban Lee has emerged as a new substantial shareholder of Federal International Holdings, after the plantation firm bought a 5.1% stake.

TNB is under investors’ radar after a total of four million or 52.2% of domestic users of electricity with a monthly bill of up to RM77 or 300kWh usage will enjoy free supply for three months under the Bantuan Prihatin Elektrik scheme.

UEM Sunrise Bhd, which swung to a first-quarter net loss largely due to foreign exchange losses, has warned that its earlier sales and gross development value targets of RM2bil respectively for FY20, are likely to be impacted by the economic uncertainty.

Meanwhile, US markets ended mixed on Friday amid easing concerns over US-China trade and new coronavirus cases.

Earlier, European stocks advanced after UK retail sales declined lower than expected.

“Following the mixed performances in the US and Europe, the FBM KLCI is expected to remain sideways with support at 1,490 points,” JF Apex said.

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OCR , GDB , FGV , Ranhill Utilities

   

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