Trading ideas: AirAsia, GPacket, DNeX, Pantech, CIMB, Bintai Kinden

KUALA LUMPUR: Airasia Group Bhd, Green Packet Bhd, Dagang Nexchange Bhd (DNeX), Pantech Group Holdings Bhd, CIMB Group Holdings Bhd and Bintai Kinden Corp Bhd are among the stocks to watch on Friday, according to JF Apex Research.

AirAsia is proposing to issue up to 668.39 million new shares or 20% of its current share capital for private placement to raise RM454.51mil. The proposed sum is based on an indicative price of 68 sen per share.

A tech fund promoted by Green Packet is funding the majority shareholders of Nuglobal Ventures Sdn Bhd which is keen on taking over Khazanah Nasional Bhd's semiconductor fabricating company SilTerra Malaysia Sdn Bhd.

DNeX clarified that it has not entered into any definitive agreement to acquire Khazanah Nasional Bhd's semiconductor fabricating company SilTerra Malaysia Sdn Bhd.

It said the company nevertheless is constantly evaluating various proposals to grow its business organically or through acquisitions including that of SilTerra.

UOA REIT’s net rental income for the fourth quarter ended Dec 31, 2020 fell 10.81% year-on-year no thanks to rental rebates given to eligible tenants.

Pantech said its third-quarter net profit fell 14.8% yoy as revenue dropped partly due to a decrease in sales of the company's products to O&G customers at a time when the industry contended with the impact of the Covid-19 pandemic.

CIMB's 94.8%-owned subsidiary CIMB Thai Bank PCL saw its net profit for FY20 decline 36% year-on-year mainly due to increase in provisions and an expected credit loss.

Bintai Kinden announced that it intends to diversify into property development and management as a strategy to reduce its “reliance solely on the mechanical and electrical (M&E) engineering business”.

On top of that, the company is also proposing a private placement exercise to raise fresh capital of RM58.43mil to fund the new venture.

Meanwhile, US markets were flat overnight amid corporate earnings and investors looking forward to President Joe Biden's stimulus plan.

Earlier, European stocks declined after the European Central Bank kept interest rates unchanged.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain lacklustre and test the support of 1,590 points,” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

AirAsia , GPacket , DNeX , Pantech , CIMB


Next In Business News

Facing crisis, Sri Lanka to cut spending 'to the bone'
India could cut import tax on some edible oils to tame local prices
Africa objects, Malaysia has reservations, on US push to reform health rules at WHO
GLOBAL MARKETS-Stocks tumble on growth concerns, bond yields slip
Oil steadies after choppy trade, US says export ban not ruled out
Ekuinas exploring key investments
Putin’s state oil champion suffers biggest production drop
Zafrul: Economy in the right direction
Strong first-quarter performance for UMW
Rafiza Ghazali is KAF’s Digital Islamic Bank CEO

Others Also Read