Trading ideas: Ageson, Ranhill Utilities, XOX

TheStar Tue, Jul 28, 2020 08:44am - 3 years View Original


KUALA LUMPUR: Stocks to watch for on Tuesday include Ageson, Ranhill Utilities, XOX, Managepay, Affin Bank, Mi Technovation and United Plantation.

JF Apex Research noted in its daily highlights report that the stocks could attract investor attention owing to recent news flow.

Ageson has entered into a JV agreement with Menteri Besar Kedah Inc to undertake the mining, supply and exportation of silica sand in Kedah.

In a seperate statement, Ageson said it has accepted the letter of intent from South Korean glass manufacturer company Techpack Solutions Co Ltd for a five-year silica sand supply contract for US$79.5mil (RM339.03mil).

Ranhill Utilities has bagged a mechanical and electrical (M&E) works contract worth RM14.7mil for the Merlimau water treatment plant and Lanchang intake in Melaka.

XOX has teamed up with a Shanghai-based venture capital and advisory firm to form a partnership with a 5G technology provider in China.

ManagePay said it is forming a joint venture (JV) company, through its wholly-owned subsidiary ManagePay Services Sdn Bhd (MPSB) together with Singapore-based Passion Venture Capital Pte Ltd (PVC), to participate in digital banking in Malaysia.

Affin Bank is not ruling out the possibility of listing its asset management unit, Affin Hwang Asset Management, saying it is keen to "unlock the value" of the unit.

Mi Technovation reported a 4.17% increase in its 2QFY20 net profit, on higher sales; United Plantations' 2QFY20 net profit rose 62.73% y-o-y, on higher revenue and better performance posted by its plantation segment.

Ahead of the market open, JF Apex said the FBM KLCI could remain sideways below the resistance of 1,615 points, following its flattish performance yesterday.

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Related Stocks

AFFIN 2.440
AGES 0.070
APEX 0.980
MI 1.790
RANHILL 0.995
UTDPLT 25.380
XOX 0.010

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