Trading ideas: PMC, AirAsia, DNeX, KPower, Yinson


KUALA LUMPUR: Pan Malaysia Corp, AirAsia, DNex, KPower and Yinson are among the stocks to watch on Friday after their corporate announcements, JF Apex Research says.

Pan Malaysia Corp has entered into a sale and purchase agreement with Inter Mark Resources Sdn Bhd to acquire 31.62 million shares, or a 51% stake, in A&W (M) Sdn Bhd.

As for low-cost carrier, AirAsia expects a strong recovery for air travel in all key domestic destinations and for international flights to resume in the near future, complemented by stringent health and safety protocols that the airline has put in place.

Sarawak-based Hock Seng Lee's 2QFY21 earnings jumped two-fold on a yearly basis, thanks to stronger contribution from its construction segment.

JF Apex Research said DNeX’s 90% owned Ping Petroleum Ltd completed of the acquisition of the remaining 50% interest in the UK North Sea Block containing the Avalon Oil Development.

Meawhile, KPower’s 4QFY21 net profit fell 19.05% yoy, due mainly to the impairment of an investment property amounting to RM1mil.

Yinson's net profit for the second quarter ended July 31, 2021 rose 26% yoy, as it recorded higher contribution from its vessel conversion activities and its FPSO (floating production storage offloading) Abigail-Joseph, which commenced its lease in October 2020.

United Malacca posted a more than five-fold jump in 1QFY22 net profit to RM20.85mil from RM3.55mil a year earlier, as higher crude palm oil (CPO) and palm kernel prices saw its Indonesian operations break even while Malaysian operations showed growth.

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PMC , AirAsia , DNeX , KPower , Yinson , A&W

   

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