Trading ideas: KUB, MSM, Top Glove, Aeon Credit, MMC, Axiata, Digi


KUALA LUMPUR: KUB Malaysia Bhd, MSM Malaysia Holdings Bhd, Top Glove Corp Bhd, AEON Credit Service (M) Bhd, MMC Corp, Axiata Group Bhd and Digi.com Bhd are among the stocks to watch on Friday, according to JF Apex Research.

KUB will be selling its loss-making plantation unit, KUB Malua Plantation Sdn Bhd, to Tradewinds Plantation Bhd, the plantation arm of Tan Sri Syed Mokhtar's business empire for RM10mil cash.

MSM has temporarily shut down its refinery at the Tanjung Langsat Industrial Complex in Pasir Gudang. It explained that the temporary production shutdown is to allow for the plant’s boiler rectification after a breakdown.

Top Glove, which has been prohibited from exporting its goods from Malaysia to the US following allegations of forced labour, said that its gloves produced from factories outside Malaysia can still be shipped to the US.

Aeon Credit’s net profit for the fourth quarter ended Feb 28, 2021, rose 28.66% yoy, despite lower revenue, as it recorded lower operating expenses.

MMC has benefitted from higher demand for cargo storage space at its Port of Tanjung Pelepas in Johor, which is operated by its unit Pelabuhan Tanjung Pelepas Sdn Bhd, due to the recent blockage at the Suez Canal caused by a trapped container ship.

Axiata confirmed that it will be merging with Digi to form Celcom Digi Bhd. The merger only involves the Malaysian operations of both companies.

BS Bina has signed an agreement with the Melaka government to reclaim and develop land spanning 1,200 acres in Tanjung Bruas.

Meanwhile, the US market advanced overnight with the S&P extending its record high after the Federal Reserve chairman indicated more robust economic recovery is needed.

Earlier, European stocks climbed after the Fed's minutes of meeting was released.

“Following the recent sideways trend, the FBM KLCI could continue to remain flat above the support of 1,560 points,” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

KUB , MSM , Top Glove , Axiata , Digi

   

Next In Business News

Gamuda posts higher Q3 earnings
Xin Hwa reprimanded, two directors fined RM150,000
EcoWorld Malaysia registers strong sales, higher earnings in Q2�
Ekuinas records strong investment returns for 2020
FBM KLCI closes at year's low
China says it will take necessary measures to safeguard Chinese firms' interests
Astro signs Netflix as new streaming partner
Boustead's three-pronged strategy to reinvent itself
Oil gains as draw in U.S. crude stocks reinforces outlook for robust demand
Singapore files 105 new charges against oil trader Hin Leong founder O.K. Lim

Stories You'll Enjoy


Vouchers