Trading ideas: Axiata, Magna Prima, Gamuda, Tenaga

KUALA LUMPUR: Axiata, Magna Prima, Gamuda and Tenaga Nasional are among the stocks which could see some trading activities following overnight news, says JF Apex Research.

In its research note on Thursday, it said Axiata, along with two other firms, have been shortlisted to bid for Myanmar telecoms tower company Irrawaddy Green Towers (IGT).

As for Magna Prima, it defaulted on a term loan facility from Alliance Bank, amounting to RM37.79mil in principal and accrued interest payments as at June 17.

It said Khee San is being sued by Alliance Bank for defaulting on a RM4.7mil loan.

Oil and gas services company Yinson’s 1QFY21 net profit fell 6.3% yoy mainly due to higher depreciation and amortisation charges.

Infrastructure-to-property Gamuda posted a lower net profit of RM40.23mil for 3QFY20, down 77.14% yoy as its Malaysian operations were affected by the movement control order (MCO) imposed during the final six weeks of the quarter.

JF Apex Research said Tenaga Nasional inked three large-scale solar (LSS) Photovoltaic Power Purchase Agreements with three special purpose companies (SPCs) to build transmission connected LSS projects, which have a total capacity of 290.88 megawatts of alternating current.

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Axiata , Magna Prima , Gamuda , Tenaga , Yinson


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