Trading ideas: UEM Sunrise, AME Elite, XOX, AirAsia, AirAsia X


  • Analyst Reports
  • Monday, 12 Oct 2020

KUALA LUMPUR: UEM Sunrise, AME Elite, XOX, AirAsia and AirAsia X are among the stocks to watch on Monday, says JF Apex Research.

In its research note, it pointed out UEM Sunrise is selling 169.8 acres of land in Johor to AME Elite Consortium for RM434.3mil.

After market close, UEM Sunrise managing director Anwar Syarin Abdul Ajib, who is also the chief executive officer, tendered his resignation after leading the group for six years.

Coincidently, his resignation is at the time when UEM Sunrise’s board is expected to deliberate the proposal made by its controlling shareholder, UEM Group Bhd, to merge with Eco World Development Bhd.

XOX has proposed to undertake a bonus issue of up to 1.34 billion free warrants on the basis of three warrants for every eight shares held on an entitlement date to be announced later.

WZ Satu bagged an RM16.5mil contract from AsPac Lubricants (Malaysia) Sdn Bhd, a member of oil and gas BP Group, for installation works at AsPac’s lubricant blending plant in Port Klang.

AirAsia and AirAsia X have confirmed the retrenchment of 10% of their 24,000 employees last week.

Kanger International’s unit, Ganzhou Kanger Industrial Co Ltd, has entered into an agreement to lease the AutoCity Building in China to Ganzhou Jiache Automobile Trading Co Ltd.

Focus Dynamics bought a 12.19% stake in in-flight catering firm Brahim's Holdings for RM7.34 million. This will open the doors for an international trading network via airlines and in-flight catering services for Focus Dynamics’ brand of products.

NetX Holdings has proposed to supply up to 1,000 contactless payment terminals to facilitate cashless and e-wallet payment solutions via DGB Networks Sdn Bhd’s next-generation artificial intelligence vending machines.

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