Trading ideas: Mr DIY, Careplus, Unisem, Mi Tech, Tasco

KUALA LUMPUR: Mr DIY, Careplus, Unisem, Mi Technovation, Tasco, AirAsia Group and AirAsia X are among the stocks to watch on Monday following their corporate news, says JF Apex Research.

Mr DIY makes its debut on the Main Market of Bursa Malaysia at an offer price of RM1.60 a share. This is the largest IPO of the year.

Glove maker Careplus returned to the black in its 3QFY20 with a net profit of RM42.86mil versus a net loss of RM4.94mil a year ago, thanks to higher glove sales, higher utilisation rate and higher selling prices as a result of a surge in demand due to Covid-19.

Unisem's 3QFY20 net profit from continuing operations rose 98.67%, while revenue improved as the semiconductor manufacturer registered higher sales volume and better average selling prices for its products.

Mi Technovation posted a 29.24% decline in its 3QFY20 net profit, despite a 35.88% increase in revenue. The fall in net earnings was mainly due to higher fixed costs at its new Batu Kawan factory in Penang, higher commissions payable to external sales agents, as well as foreign exchange losses.

Logistics company Tasco's net profit for its 2QFY21 jumped 160.34% underpinned by its international business solutions and domestic business solutions segments.

As for UEM Sunrise, it will be disposing of a 20% stake in a firm developing 2,500 acres of land in Kulai, Johor, which will result in Kuala Lumpur Kepong Bhd (KLK) taking over as the firm's majority shareholder, for RM182.6mil.

AirAsia confirmed that it has secured a RM300mil loan from Sabah Development Bank Bhd as part of the group's fundraising exercise and to pivot the airline into the digital business.

The low-cost carrier clarified that the loan is not backed by any government guarantee.

AirAsia X has acknowledged that it is being sued by MAHB for aeronautical charges totalling RM78.16mil allegedly owed by the airline.

Key Alliance is teaming up with clinical diagnostics laboratory firm Dunia Wellness Laboratories Sdn Bhd to offer onsite testing services for Covid-19 within Peninsular Malaysia.

VSolar will install rooftop solar panels at a plant belonging to AT Systematization Bhd's glove manufacturing subsidiary in Perak, with a 15-year tenure lease.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Did you find this article insightful?


75% readers found this article insightful

Next In Business News

TDM says CEO Zainal Abidin resigned over disagreement with chairman�
Petronas posts RM3.4bil net loss in Q3
Boustead appoints former Telekom boss Shazalli Ramly as new Group MD
Public Bank 3Q net profit higher at RM1.39b
CIMB's 3Q pre-tax profit improves sequentially on higher operating income
Kenanga IB profit up tenfold as brokerage, trading income soar
Palm oil’s stunning rally is set to boost supermarket prices
Alliance Bank posts lower 2Q net profit of RM103.94m on higher reserves
Pandemic and travel curbs hit Datasonic Q2 earnings�
Higher net profit for Hong Leong Bank

Stories You'll Enjoy