Trading ideas: AirAsia X, Destini, Axis-REIT, MMAG, Solarvest


KUALA LUMPUR: JF Apex Research expects AirAsia X Bhd, Destini Bhd, Axis Real Estate Investment Trust, MMAG Holdings Bhd and Solarvest Holdings Bhd to be among the stocks to watch.

AirAsia X along with AAX Leasing Two Ltd has withdrawm their application to challenge the registration of a UK court judgement by its lessor BOC Aviation Ltd for the airlines to pay US$23.37mil (RM96.84mil).

It is understood AAX and AAX Leasing had agreed to pay RM5,000 costs to BOC Aviation.

Destini has secured two contracts from the Ministry of Defence (Mindef) worth RM89mil in total to provide its services to the military.

Axis REIT’s net poperty income rose 10.4% to RM53.77mil for its 4QFY21 from RM48.73mil a year earlier, mainly due to contributions from newly acquired properties and positive rental reversion.

MMAG has raised its stake in ceramics and pottery products manufacturer CSH Alliance Bhd to 16.61% by subscribing for new shares in a rights issue.

Solarvest, insurers QBE Insurance (Malaysia) Bhd and Anora Agency Sdn Bhd have collaborated to provide solar photovoltaic (PV) investors a solar investment insurance product, namely the SolarPro Line-Stoppage insurance policy.

Supermax, whose products are facing an import ban in the US, has confirmed the Canadian government has terminated its nitrile glove supply contract over allegations of forced labour.

Pantech's net profit jumped 132.8% to RM20.36mil in its 3QFY22, from RM8.75mil a year ago, due mainly to optimised operations, better product mix and higher selling prices.

Meanwhile, the US market tumbled overnight amid rising bond yields and ongoing corporate earnings season.

In contrast, European stocks advanced as investors brushed off inflation concerns.

“Following the selldown in Wall Street, the FBM KLCI could remain pressured with support at 1,515 points,” JF Apex said.

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AirAsia X , Destini , Axis-REIT , MMAG , Solarvest

   

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