Trading ideas: Genting, GenM, Pos Malaysia, KLK, Pharmaniaga, Guocoland


KUALA LUMPUR: Stocks to watch on Friday include Genting Bhd, Genting Malaysia Bhd (GenM), Pos Malaysia Bhd, Kuala Lumpur Kepong Bhd (KLK), Pharmaniaga Bhd and Guocoland (Malaysia) Bhd, according to JF Apex Research.

Genting and Genting Malaysia’s sister company Genting Hong Kong has suspended payments to creditors. Genting Hong Kong said it will use its available funds to maintain critical services for the company’s operations and asked creditors to form a steering committee to evaluate a planned restructuring proposal, according to a statement to the Hong Kong stock exchange on Wednesday

Pos Malaysia is selling 51% of its air cargo business in East Malaysia for RM40mil cash.

JF Apex noted that KLK, Batu Kawan, Petronas Gas Pharmaniaga and Thong Guan saw quarterly profits increase.

On the other hand, Guocoland, MBM Resources, MSM Malaysia, Petronas Chemicals had their quarterly earnings declined.

Meanwhile, US markets advanced overnight with the S&P and Nasdaq hitting record highs following gains in technology counters despite higher jobless claims and the Federal Reserve's concern over the economy.

In Europe, stocks declined after the Fed expressed uncertainty over the economic recovery.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways above the support of 1,550 points,” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Genting , Pos Malaysia , Pharmaniaga , Guocoland

   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

AMMB says it has enough capital to absorb 1MDB global settlement�
Top Glove seeks RM7.77bil by selling new shares in Hong Kong
AMMB agrees to RM2.83bil global settlement over 1MDB
Serba Dinamik net profit soars to RM631.7mil in 2020
MMC FY20 net profit up 47% to RM375m
CIMB sees less provisions in 2021 after coronavirus-hit 2020
FBM KLCI pares losses but still in red
Petronas records net profit of RM10.5b for FY20 excluding impairments
Hong Leong Bank records higher operating profit in 2Q
Bintulu Port's net profit falls to RM93.3mil in FY20

Stories You'll Enjoy


Vouchers