Trading ideas: AirAsia X, LBS, Inix, Ipmuda, Fintec, Ageson


  • Analyst Reports
  • Monday, 07 Sep 2020

KUALA LUMPUR: Stocks to watch on Monday include AirAsia X Bhd (AAX), LBS Bina Group Bhd, INIX Technologies Holdings Bhd, Ipmuda Bhd, Fintec Global Bhd and Ageson Bhd, according to JF Apex Research.

AirAsia X has been hit with a US$22.98mil (RM95.33mil) suit in the UK for alleged breach of contract.

AAX and its indirect wholly-owned subsidiary AAX Leasing Two Ltd have received a letter detailing a legal claim by BOC Aviation Ltd (BOCA), which alleged that AAX Leasing Two had breached its obligations under the lease agreements.

There were also breaches under the leases' respective guarantees dated Dec 28, 2018, it claimed.

LBS announced that it had signed a memorandum of understanding with a company from China to dispose of its 60% stake in Zhuhai International Circuit Ltd (ZIC).

Inix Technologies said in a stock exchange filing today that it is in early talks with parties developing a COVID-19 vaccine.

Ipmuda has bagged a contract worth RM78mil million o design and build a 100MW alternating current photovoltaic solar generation facility in Marang, Terengganu.

Fintec Global is planning a rights issue with free warrants — on a five rights issue with four free warrants for every five existing Fintec shares held — to raise funds to venture into the manufacturing of medical grade nitrile gloves with the initial setting up of a factory with 12 glove-dipping lines, which will cost RM81.9mil.

Ageson said RHB Bank Bhd is suing the group over an RM33mil term loan obtained by its wholly-owned subsidiary Ageson Development Sdn Bhd.

Ageson said it had signed a corporate guarantee and indemnity under which it agreed to pay RHB for the amount owed by Ageson Development.

Meanwhile, US markets declined on Friday despite lower unemployment as optimism from economy reopening failed to cushion losses in technology counters.

Similarly, European stocks ended lower amid gains in banking stocks and losses in tech counters.

“Following the negative performances in the US and Europe, the FBM KLCI could retest its support of 1,510 points,” JF Apex said.

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AirAsia X , LBS , Inix , Ipmuda , Ageson

   

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