Trading ideas: JF Technology, AirAsia, 7-Eleven, LFE Corp, Guan Chong, MSCM

KUALA LUMPUR: JF Apex expects JF Technology Bhd, AirAsia Group Bhd, 7-Eleven Malaysia Holdings Bhd, Guan Chong Bhd, LFE Corp, MSCM Holdings Bhd and Westports Holdings Bhd to be among the stocks to watch on Tuesday.

JF Technology has proposed a bonus issue with free warrants on the basis of three bonus shares and two free warrants for every one existing share held at an entitlement date to be announced.

AirAsia said its 33%-owned associate AirAsia Japan Co Ltd (AAJ) is ceasing operations due to “highly challenging operating conditions”. Besides, the Indian aviation minister hinted that the group is also closing its affiliate operations in India.

Caring Pharmacy Retail Management Sdn Bhd, a 75%-owned unit of 7-Eleven Malaysia, is acquiring equity interest, as well as business assets in several pharmaceutical outlets for a combined cash consideration of RM48.86mil.

LFE Corp is planning to raise up to RM39.25mil — equivalent to 87% of its market capitalisation of RM44.88 million — through a rights issue, mainly to fund its 51% stake acquisition in Cosmo Property Management Sdn Bhd (CPMSB) and for working capital.

Guan Chong plans to raise up to RM800mil from the issuance of Islamic medium-term notes (sukuk wakalah) to support the group's ongoing expansion of its international operations.

Hil Industries is venturing into the face mask and medical devices industry in a bid to capitalise on the Covid-19 pandemic play.

Its unit Hil Medic Sdn Bhd has received approval from the Medical Device Authority, which is part of the Ministry of Health, for the manufacturing of its three-ply surgical grade face mask and face shields.

MSCM, which will be known as Hong Seng Consolidated Bhd effective tomorrow, is partnering with a pharmaceutical company, RP Integrated Bhd, to pursue distributorship and opportunities relating to medical drugs and vaccines from China.

Westports said its subsidiary has been slapped with a RM120.58mil bill by the Inland Revenue Board for additional tax liabilities, inclusive of penalties, for years of assessment from 2013 to 2018.

Meanwhile, US markets rallied overnight as investors are optimistic about President Trump's health and potential economic stimulus package.

Earlier, European stocks ended higher as Trump is treated for Covid-19 and oil prices climbed 6%.

“Following the positive performance in Wall Street, the FBM KLCI could extend its rebound towards the resistance of 1,550 points,” JF Apex said.

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JF Technology , 7-Eleven , LFE Corp , Guan Chong , MSCM


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