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Trading ideas: Comfort Gloves, SunREIT, LKL International

TheStar Tue, Mar 24, 2020 08:54am - 2 months ago

KUALA LUMPUR: COMFORT GLOVES BHD, Sunway Real Estate Investment Trust and LKL International Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Comfort Gloves ended its financial year ended Jan 31, 2020 (FY2020) on a stronger footing, as it reported a 9% rise in net profit in the fourth quarter to RM10.24mil from RM9.39mil a year ago. Its revenue climbed 6% to RM33.18mil from RM27.89mil.

Sunway Malls, including three malls under the portfolio of SunREIT, are offering RM20mil rent free to non-essential retailers during the 14-day Movement Control Order (MCO) period.

LKL International’s managing director Lim Kon Lian said the group is ready to fulfil the high demand for medical equipment from hospitals in Malaysia and foreign countries, in their battle against Covid-19.

Lim said that the medical/healthcare beds, peripherals and accessories provider has received numerous requests for essential medical equipment from hospitals in various states across Malaysia, as well as from foreign countries including Italy, Maldives, Mauritius, Brunei and Bangladesh.

Meanwhile, US markets tumbled 3% overnight after lawmakers failed to roll out the fiscal stimulus needed to save the economy.

The Dow lost 582.05 points, or 3.04%, to close at 18591.93. The S&P 500 fell 67.52 points, or 2.93%, to end at 2237.40, and the Nasdaq Composite declined 18.84 points, or 0.27%, to close at 6860.67.

Earlier, European stocks declined due to ongoing concerns over the coronavirus.

“Following the bearish sentiment in global markets, the FBM KLCI could extend its selldown towards the support of 1,210 points,” JF Apex said.

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Related Stocks

APEX 0.795
LKL 0.495
SUNWAY 1.530


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