Trading ideas: TA Global, Ho Wah Genting, MSCM, CIMB, TNB


  • Analyst Reports
  • Tuesday, 01 Sep 2020

KUALA LUMPUR: Stocks to watch on Tuesday include TA Global Bhd, Ho Wah Genting Bhdusiness/marketwatch/stocks/?qcounter=GENTING' target='_blank'>Genting Bhd, MSCM Holdings Bhd, CIMB Group Holdings Bhd and Tenaga Nasional Bhd (TNB), according to JF Apex Research.

A unit of TA Global which manages the Trump International Hotel in Vancouver, Canada, has reportedly filed for bankruptcy as its operations were affected by the Covid-19 pandemic.

Reuters reported that TA Hotel Management Ltd Partnership (TAHMLP) said the temporary closure since March due to the pandemic had impacted the hotel's business.

The US Food and Drug Administration (FDA) has responded to the second communication to Ho Wah Genting’s joint-venture, E-Mo Biology Inc (EBI), based in the US.

Ho Wah Genting said EBI has been requested to provide further information on the Investigational New Drug application which proposes the use of existing poliomyelitis virus vaccines for prevention of COVID-19.

MSCM, which recently ventured into glove manufacturing, is partnering with Koperasi Persatuan Perubatan Malaysia (KOOP MMA), the investment vehicle for members of the Malaysian Medical Association, to digitalise primary healthcare in the country.

MSCM said its subsidiary HS Bio Supplies Sdn Bhd has entered into a strategic partnership arrangement with eMedAsia Sdn Bhd, which is majority held by KOOP MMA, to be its exclusive logistics services provider. It is also investing RM2mil into eMedAsia for a 20% stake

CIMB, Public Bank, RHB Bank, Hong Leong Bank, YTL Corp, DRB-Hicom, Datasonic, IOI Properties, TH Heavy, Mah Sing, TNB reported weaker year-on-year quarterly results whilst HLT, MPI, Bumi Armada posted better year-on-year quarterly profits.

Meanwhile, US markets ended mixed with the Dow and S&P falling while the Nasdaq climbed.

Earlier, European stocks declined following a dovish stance by the US Federal Reserve.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain lacklustre and hover above the support of 1,510 points,” JF Apex said.

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TA Global , Ho Wah Genting , MSCM

   

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