Trading ideas: AirAsia, Sime Darby Plantation, Muar Ban Lee, Cymao, Nationwide Express


  • Analyst Reports
  • Thursday, 09 Jul 2020

KUALA LUMPUR: Stocks to watch on Thursday include AirAsia Group Bhd, Sime Darby Plantation Bhd, Muar Ban Lee Group Bhd, Cymao Holdings Bhd and Nationwide Express Holdings Bhd, according to JF Apex Research.

AirAsia is considering raising about RM1bil through a rights issue and weighing the option of raising additional funds via the sale of stakes in its digital and cargo units in order to further strengthen its financial position.

Sime Darby Plantation said it intends to engage with Liberty Shared to further understand the latter’s allegations in detail in order to conduct a thorough and immediate investigation, as the allegations were submitted to the US Customs and Border Protection without soliciting any feedback from the company.

Muar Ban Lee had proposed a one-for-one bonus issue of up to 147.12 million new shares to be undertaken at a date to be determined later.

Cymao is disposing of its loss-making laminated product business for RM9.1mil in a related-party transaction.

Nationwide Express said it is disposing of a property in Shah Alam at below market price of RM19.4mil that would result in a net loss of RM3.8mil.

Focus Dynamics said it is exploring a potential merger and acquisition exercise with some food and beverage companies with a sizeable asset base.

Meanwhile, US markets advanced overnight with the Nasdaq hitting a record high following gains in technology counters.

Earlier, European stocks declined due to concern that rising cases of coronavirus could derail global economic recovery.

“Following the positive momentum in Wall Street, the FBM KLCI could retest its resistance of 1,590 points,” JF Apex said.

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