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Trading ideas: MyEg, AT Systematization

TheStar Mon, Feb 11, 2019 08:57am - 10 months ago


KUALA LUMPUR: JF Apex Research expects MyEG Services Bhd and AT Systematization Bhd to be among the stocks to watch following their latest news.


The Malaysia Competition Commission (MyCC) has issued a warning to MyEG over its non-compliance of an order to pay a penalty for abusing its dominant position, accumulating to RM9.46mil to date following dismissal remedial orders from Oct 7, 2015 to Jan 22, 2019, amounting to RM9.34mil sent after MyEG’s judicial review.


   

AT Systematization’s wholly-owned subsidiary, AT Precision Tooling Sdn Bhd, acquired a 9.09% stake in Trive Property Group Bhd for RM2.92mil as it seeks to expand into the solar energy business.


Meanwhile, US markets ended mixed on Friday amid concerns over slower economic growth and trade tensions between the US and China.


Earlier, European stocks tumbled after presidents of the US and China will not meet each other before the March 2 deadline to wrap up trade negotiation.


“Following the bearish sentiment in the US and Europe, the FBM KLCI could extend its lacklustre performance with support at 1,650 points,” JF Apex said.


The research house said the selldown in the past few months hit a low of 1,626 points in December before rebounding.


“The index is currently supported by the 50-day moving average line but could fall further if this support level fails to hold,” it added.









Related Stocks

APEX 0.800
AT 0.045
MYEG 1.170
TRIVE 0.010

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