Trading ideas: Revenue Group, Jerasia Capital, Axiata, TMC Life Sciences and AT Systemization


KUALA LUMPUR: Investors could be paying attention to Revenue Group, Jerasia Capital, Axiata, TMC Life Sciences and AT Systemization following recent corporate announcements, said JF Apex Research.

Revenue Group is slated to transfer to the Main Market of Bursa Malaysia from the ACE Market on Feb 14.

Jerasia Capital said three of its wholly-owned subsidiaries — Canteran Apparel Sdn Bhd, Jerasia Fashion Sdn Bhd and Jerasia Apparel Sdn Bhd — have defaulted in their repayment of principal and interest of financing facilities granted by United Overseas Bank (Malaysia) Bhd, totalling RM74.62mil.

The shareholder dispute on the divestment of Axiata’s subsidiary Celcom Axiata Bhd’s 35% stake in Tune Talk Sdn Bhd has been brought to the Asian International Arbitration Centre (AIAC).

A group of Tune Talk shareholders, who collectively hold a 30.02% stake, is trying to block Celcom Axiata from selling its 35% stake in the mobile virtual network operator.

TMC Life Sciences’ net profit grew 27.85% yoy for the second quarter ended Dec 31, 2021, on the back of its quarterly revenue rising 21.36% yoy.

AT Systematization’s wholly-owned unit AT Precision Tooling Sdn Bhd has entered into a Value Contract with Maschinenfabrik Rieter AG (Rieter) to produce aluminium profiles for Rieter’s Card and Ringspin sector amounting to US$10mil.

Meanwhile, there could be further upsides for the FBM KLCI following Wall Street's strong overnight performance.

JF Apex said the benchmark index could extend its rebound to the resistance of 1,600 points after surging 21.42 points in its previous session to 1,551.51.

In US markets, equities rallied on corporate earnings and cooling bond yields as investors awaited key inflation data later today.

European stocks were also sharply higher following strong quarterly profits.

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
   

Next In Business News

CC International posts modest premium on LEAP Market debut
Japan says hard to confirm impact from Russia's debt default
Better rating revision lifts ringgit in early trade
Kenanga Research cuts end-2022 KLCI target to 1,610 points
Quick take: Sapura Energy back in black, shares jump 22%
Bursa Malaysia volatile in early trade
Trading ideas: MyNews, Sapura Energy, Reach Energy, AAX, DNeX
Oil price rises US$2/bbl after G7 vows new Russian sanctions
Russia in historic default as Ukraine sanctions cut off payments
Sri Lanka stops fuel supply to non-essential services as crisis worsens

Others Also Read