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Trading ideas: Tan Chong Motor, Tambun Indah, DRB-Hicom, Guan Chong

TheStar Mon, Jun 01, 2020 08:53am - 1 month ago


KUALA LUMPUR: TAN CHONG MOTOR HOLDINGS BHD, Tambun Indah Land Bhd, DRB-HICOM BHD and GUAN CHONG BHD are among the stocks to watch on Monday, according to JF Apex Research.

Tan Chong Motor is subscribing to new shares representing 15.79% equity interest in its sister company Warisan TC Holdings Bhd’s subsidiary, MUV Marketplace Sdn Bhd (MUVM), for RM15mil.

MUVM is mainly engaged in the provision of used vehicles auction services, vehicles inspection and certification as well as the trading of used vehicles.

Tambun Indah has proposed a final dividend of 2.9 sen/share for its FY19.

DRB-HICOM has proposed a first and final dividend of 2 sen/share for its FY19.

Guan Chong’s first quarter ended March 31, 2020 (1QFY20) net profit grew by 35.8% to RM72.17mil from RM53.14mil a year ago.

JF Apex noted that Ta Ann, Paramount, Tomei, Scicom, QES, Tong Herr, Greatech, Mesiniaga, DPI reported better year-on-year quarterly results.

On the other hand, Hong Leong Bank, RHB, Affin Bank, Carlsberg, PPB, Bumi Armada, IOI Properties, Mah Sing, Star Media, InNature, ATTA GLOBAL, Pintaras Jaya, Karex, EITA RESOURCES, Pecca, Kelington posted weaker year-on-year quarterly net earnings.

US markets ended mixed on Friday following rising tension between the US and China. Earlier, European stocks declined as the US threatened to revoke Hong Kong's special trade status.

“Following the mixed performances in the US and Europe, the FBM KLCI could move sideways and consolidate above the 1,450-point threshold,” JF Apex said.

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