Trading ideas: AirAsia X, Perak Transit, Jiankun, Pharmaniaga, See Hup, Dayang


KUALA LUMPUR: AirAsia X Bhd, Perak Transit Bhd, Jiankun International Bhd, Pharmaniaga Bhd, See Hup Consolidated Bhd and Dayang Enterprise Holdings Bhd are among the stocks to watch on Friday, according to JF Apex Research.

Most of AirAsia X’s lessors support a restructuring plan, and the Malaysian airline has received interest from potential investors for fundraising after reorganisation, court documents filed this month show,

Perak Transit has teamed up with concession owner Energetic Point Sdn Bhd to operate Terminal Sentral Kuantan in Pahang, which serves as a hub for express buses as well as local city buses.

Jiankun International has proposed to undertake a private placement of up to 20% of the total number of issued shares in the company to raise an indicative maximum amount of RM23.03mil, which will partly fund the group’s planned land acquisition in Melaka and development costs of the tract.

Pharmaniaga said it is in the midst of negotiation with the Ministry of Health for the purchase of the Covid-19 vaccine from China’s Sinovac Life Sciences Co Ltd for distribution in Malaysia.

See Hup is selling nine plots of land in Penang measuring 853,863 sq ft in total for RM46.96mil cash to Tek Seng Holdings Bhd and a vehicle controlled by the latter’s executive chairman and managing director.

The group said the proposed disposal is expected to generate a pro forma gain of RM28.05mil.

Dayang Enterprise has been awarded a three-year maintenance contract by Mubadala Petroleum’s entity, MDC Oil & Gas (SK320) Ltd.

Overnight, US markets ended slightly lower after President Biden unveiled a US$1.9 trillion stimulus plan.

Earlier, European stocks climbed after the US' stimulus announcement and positive vaccine news boosted investor sentiment.

Following the positive performances in the US and Europe, JF Apex said the FBM KLCI could climb towards the resistance of 1,650 points.

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