Trading ideas: Genting Malaysia, Kossan, Careplus, KPJ, Magnum, BToto

KUALA LUMPUR: Genting Malaysia Bhd, Kossan Rubber Industries Bhd, Careplus Group Bhd, KPJ Healthcare Bhd, Magnum Bhd and Berjaya Sports Toto Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

Genting Malaysia said its Resorts World Genting and Resorts World Awana resumed business yesterday evening, after the group temporarily suspended operations at the resorts, following the implementation of the Movement Control Order from Jan 22 to Feb 4.

Separately, the company said Resorts World Birmingham and all other land-based casinos in the UK remain temporarily closed until further notice.

Kossan reported a net profit of RM523.49mil for its 4QFY20, about nine times higher than the RM61mil it recorded in the corresponding quarter a year ago, thanks to higher volume of gloves sold and better average selling prices.

The glove maker declared a second interim dividend of 3 sen per share, together with a special dividend of 8 sen per share to be paid on March 17.

Careplus has entered into a conditional share acquisition agreement with Shin Heung Precision Co Ltd to acquire the latter's subsidiary Shin Heung Electronics Malaysia Sdn Bhd, which owns a piece of land at Oakland Industrial Park in Seremban, Negeri Sembilan to expand its warehousing capacity.

Johor Corp is weighing strategic options for health-care provider KPJ Healthcare Bhd, based on a news report.

Options could include bringing in an investor with experience in the sector or a merger with another hospital operator.

Magnum 4D and Sports Toto outlets, which are owned by Magnum and Berjaya Sports Toto respectively, said they resumed business as usual.

Meanwhile, US markets closed flat Tuesday, taking pause from the recent gains of hitting record gains, coupled with concerns on rising bond yields.

European markets closed mixed, as a global risk rally fueled by economic recovery hopes lost steam.

“The local benchmark index is expected to tread sideways in the absence of a positive catalyst with its support and resistance levels of 1,575 points and 1,650 points respectively,” JF Apex said.

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Genting Malaysia , Kossan , Careplus , KPJ , Magnum , BToto


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