Trading ideas: Maxis, AirAsia X, Rubberex, CSC Steel

KUALA LUMPUR: Maxis, AirAsia X, Rubberex and CSC Steel are among the companies to watch on Monday after their recent corporate announcements, TA Securities Research said.

Maxis’s unit Maxis Broadband Sdn Bhd has been hit with an RM140.0mil tax bill after served with notices of additional assessment with penalties for tax years 2016 and 2017 from the Inland Revenue Board on Nov 17.

AirAsia X has been ordered to pay a total of RM133.1mil in two lawsuits brought against it in the UK, involving aircraft leasing.

Rubberex's net profit for the 3QFY20 surged 13 times to RM39.5mil from RM3.1mil a year ago, driven by higher nitrile glove demand.

CSC Steel's net profit for 3QFY20 rose 21% YoY to RM12.7mil from RM10.5mil, as it sold more higher-margin products.

Tropicana Corp Bhd recorded a 14% YoY drop in its 3QFY20 net profit to RM14.5mil from RM16.8mil, on lower sales and a temporary pause in activities, amid Covid-19.

Perdana Petroleum Bhd posted a wider net loss of RM30.5mil in 3QFY20, from RM2.9mil in 2QFY20, as it saw lower vessel utilisation rates.

Malaysia Steel Works (KL) Bhd posted a 95.7% YoY drop in net profit to RM3.8mil for 3QFY20.

The Employees Provident Fund has emerged as the substantial shareholder of Hartalega, after buying 174.3 mil shares or 5.1% stake in the rubber glove maker company.

Tune Protect Bhd’s net profit sank 79% to RM2.3mil in 3QFY20 from RM11mil a year ago, on lower gross written premiums and net earned premiums, owing to lower contribution from its travel segment due to the Covid-19 pandemic.

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