Trading ideas: Genting Plantations, DRB-Hicom, Inari, Aeon, Dayang, Destini

KUALA LUMPUR: Genting Plantations Bhd, DRB-Hicom Bhd, Inari Amertron Bhd, Press Metal Aluminium Holdings Bhd, Aeon Co (M) Bhd, Dayang Enterprise Holdings and Destini Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

The research house said Genting Plantations, DRB-Hicom, Inari, Press Metal, Allianz Malaysia, D&O, Prestar, Parkson, Rubberex, Hap Seng Plantations, Globetronics, Vstecs, Vitrox achieved better year-on-year quarterly results.

On the other hand, Aeon, Dayang Enterprise, UOA Development, Datasonic recorded weaker year-on-year net profits.

Genting Plantations’ net profit grew by 28.1% to RM79.04mil in the fourth quarter ended Dec 31, 2020 from RM61.69mil a year earlier.

Inari posted its best-ever quarterly net profit of RM90.1mil in the second quarter ended Dec 31, 2020 (2QFY21), against the RM37.49mil it made last year.

Aeon’s net profit for the financial year (FY) ended Dec 31, 2020, fell to RM41.42mil from RM109.229mil registered last year.

Destini has entered into an agreement with Keretapi Tanah Melayu Bhd (KTMB) to establish a joint-venture (JV) company, ET Sdn Bhd (ETSB), to expand its capabilities in maintenance, repair and overhaul (MRO) services in the rail sector.

Majuperak aims to raise up to RM20mil via a proposed private placement.

LKL International has announced that its subsidiary LKLAdvance Metaltech Sdn Bhd has secured exclusive distributorship rights for Singapore-based iWOWTechnology Pte Ltd’s trace token nationwide and targets Selangor to be the first state in Malaysia to adopt the device.

Meanwhile, US markets surged overnight with the Dow hitting a record high as bond yields came off their highs after the Federal Reserve chairman downplayed the threat of inflation.

European stocks also advanced after the Fed chairman's comments and Germany's GDP growth.

“Following the bullish performance in Wall Street, the FBM KLCI could follow suit and stage a rebound with support at 1,550 points,” JF Apex said.

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Genting Plantations , DRB-Hicom , Inari , Aeon , Dayang


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