Trading ideas: AirAsia, Jerasia, Heng Huat, Asia Poly, Pestech


KUALA LUMPUR: Stocks to watch on Friday include AirAsia Group Bhd, Jerasia Capital Bhd, Heng Huat Resources Group Bhd, Asia Poly Holdings Bhd and Pestech International Bhd, according to JF Apex Research.

In a report, JF Apex noted that AirAsia had failed in its bid to secure an extension of the relief period from being classified as a Practice Note 17 (PN17) company.

The low-cost carrier is thus deemed a PN17 company now.

Jerasia Capital's subsidiaries have defaulted on the repayments of principal and interest on two financing facilities worth RM57.05mil.

Heng Huat Resources has proposed a bonus issue of up to 588.19 million shares on the basis of three bonus shares for two shares held.

Asia Poly is buying the entire stake or 1.11 million shares in investment holding company Keng Imports & Exports Sdn Bhd for RM24.02mil.

The acquisition will allow the group to expand its production capacity by up to 3,200 metric tonnes per month to meet growing overseas demand, especially from the US and the Middle East.

Pestech International has teamed up with Singapore-based Green Li-Ion Pte Ltd to explore the possibility of collaborating in lithium-ion battery recycling activities and businesses in Malaysia and Cambodia.

Tomei has obtained the approval of Bursa Malaysia Securities to proceed with the proposed ACE Market listing of its precious metals unit, YX Precious Metals Bhd (YXPM).

Boustead Holdings is teaming up with US firm Accubits Technologies FZ LLE to develop capabilities for real estate asset tokenisation and sustainable green energy tokenisation.

Accubits is an enterprise solutions development company specialising in artificial intelligence and blockchain technologies based in Virginia, with offices in India and the UAE.

Pegasus Heights said the heads of agreement it signed with glove maker WRP Asia Pacific Sdn Bhd has been terminated as the negotiation period had lapsed.

It announced the heads of agreement in March last year to explore a potential joint venture (JV) to undertake the manufacturing and distribution of gloves and other related products.

Meanwhile, the US market declined overnight ahead of quarterly results of major banks and economic data to be released later today.

Similarly, European stocks ended lower after the US' latest inflation data and upcoming corporate earnings.

“Following the decline in Wall Street, the FBM KLCI could take a breather and consolidate below the resistance of 1,600 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

AirAsia , Jerasia , Heng Huat , Asia Poly , Pestech

   

Next In Business News

Ringgit hits RM4.40 to US dollar on global recession concerns
PetGas 1Q net profit falls 20% to RM410.6mil
Malaysia's biggest telcos seek majority stake in 5G agency
Magnum 1Q net profit more than doubles to RM16.5mil
KLCI in the red, ringgit hit the lowest since March 2020
TNB makes maiden foray into offshore wind market
China seen lowering lending benchmark LPR to support economy
Hong Kong new listings volume sinks to 9-year low on China slowdown
Hong Leong AM’s Islamic funds win five awards
Oil prices recoup early losses on China hopes, global supply fears

Others Also Read