Trading ideas: AirAsia, TCS, Tex Cycle, Kossan

For the second quarter ended June 30, the low-cost carrier posted losses of RM992.89mil compared with a profit of RM17.34mil a year ago.

KUALA LUMPUR: JF Apex Research expects AirAsia, TCS Group, Tex Cycle Technology and Kossan as the stocks which could see trading interest on Wednesday following their corporate announcements.

AirAsia which was badly hit by the coronavirus (Covid-19) pandemic, says it has sufficient cash flow to maintain operations for the rest of the year and 2021 in tandem with rising domestic demand.

For the second quarter ended June 30, the low-cost carrier posted losses of RM992.89mil compared with a profit of RM17.34mil a year ago.

The airline slashed its capacity by 98% during the quarter after bookings dried up, sending revenue down by more than RM2bil or 96% to RM118.96mil from RM2.92bil previously due to the impact of hibernation of flights and travel restrictions caused by the Covid 19 pandemic.

JF Apex Research said TCS Group secured a RM68.4mil contract from Sime Darby Property Bhd to build 218 houses in Elmina Green Three in Sungai Buloh.

As for Tex Cycle Technology, its subsidiary has signed the renewable energy power purchase agreement with Tenaga Nasional Bhd for a feed-in-tariff (FiT) concession period of 21 years.

Lagenda Properties is buying five parcels of leasehold agriculture land in Tapah, Perak, for an affordable housing township.

Loss-making Rimbunan Sawit has proposed to undertake a capital reduction to cancel RM192.53mil of its issued share capital aimed at eliminating the company's accumulated losses.

KKB Engineering secured an engineering, procurement and construction (EPC) subcontract involving a flare platform for the Kawasari Gas Development Project, offshore Sarawak, from Malaysia Marine and Heavy Engineering Sdn Bhd and Technip Geoproduction (M) Sdn Bhd.

Kossan posted its highest ever quarterly profit of RM131.06mil for its 2QFY20 and the group also announced a one-for-one bonus issue.

Velesto, Tan Chong, Sunway, Pos Malaysia, Affin Bank, Nestle, Syarikat Takaful, Leong Hup reported weaker y-o-y quarterly results whilst IOI Corp, Boustead Plantations posted better y-o-y quarterly profits.

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trading ideas , AirAsia , Kossan


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