Trading ideas: AWC, AAX, Digi, Parkson, Mah Sing, Brem, FGV

KUALA LUMPUR: Stocks to watch on Monday include AWC Bhd, AirAsia X Bhd, Bhd, Parkson Holdings Bhd, Mah Sing Group Bhd, Brem Holdings Bhd and FGV Holdings Bhd, according to JF Apex Research.

AWC has bagged a contract worth RM6.51mil to provide management maintenance and operational services at a commercial office building in Putrajaya called Galleria PJH from Putrajaya Holdings Sdn Bhd.

Long-haul, low-cost carrier AirAsia X has run out of money and needs to raise up to RM500mil to restart the airline, deputy chairman Datuk Lim Kian Onn said in a newspaper interview.

Digi’s net profit for the third quarter ended Sept 30, 2020 fell 9.9% to RM320.76mil from RM356.05mil a year earlier, due to margin slowdown compounded by Covid-19, and higher depreciation cost.

Parkson Holdings has entered into an agreement to establish a joint venture to jointly locate suitable land resources within Jiaxing city of Zhejiang province in China for future development and construction of properties on such land resources.

Mah Sing will be spending up to RM150mil in capital expenditure for the first phase of its proposed rubber glove venture, which will be funded via internal funds, bank borrowings and sukuk issuance.

It entails the purchase of 12 new glove production lines and other plant and machinery such as boilers, chillers, compressors and wastewater treatment plant, as well as the refurbishment work of a warehouse in Klang.

Brem Holdings is buying six parcels of leasehold industrial land in Serendah, Selangor for RM68.26mil to replenish its land bank.

FGV Holdings has expanded its bulking facility by adding six new vegetable oil storage tanks to cater for increasing market demand and to fulfil the government's B20 biodiesel mandate for the transport sector.

Meanwhile, US markets ended mixed on Friday amid retail sales data beating expectations and concerns over coronavirus.

Earlier, European stocks rose in a sharp rebound following the UK Prime Minister's comment on Brexit.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways above its support of 1,475 points,” JF Apex said.

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AWC , AirAsia X , Digi , Parkson , Mah Sing


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