Trading ideas: MMC, FSBM, MAHB, AAX, Pavilion Reit

TheStar Fri, Oct 23, 2020 09:10am - 4 months ago

KUALA LUMPUR: MMC Corp Bhd, FSBM Holdings Bhd, Malaysia Airports Holdings Bhd, AirAsia X Bhd (AAX), Pavilion Real Estate Investment Trust and Eupe Corp Bhd, according to JF Apex Research.

MMC is reviving an initial public offering plan for its port assets, which could be the biggest listing in the Southeast Asian nation since 2012.

Bursa Malaysia Securities Bhd has publicly reprimanded FSBM Holdings Bhd and six of its directors for failing to issue the company’s annual report for the financial year ended June 30, 2018 within the stipulated time frame.

MAHB has gone ahead to initiate a lawsuit against AAX to demand the payment of an owed sum, saying the action is necessary to "best protect its interest".

Eupe’s net profit jumped 56.85% to RM16.21mil for the second quarter ended Aug 31, 2020

(2QFY21) from RM10.33mil a year ago.

Pavilion Real Estate Investment Trust's net property income for its third quarter ended Sept 30, 2020 rose by 55.82% quarter-on-quarter to RM60.88mil from RM39.07mil in the immediate preceding quarter.

Meanwhile, US markets rose overnight amid progress in stimulus talks, corporate earnings, better-than-expected jobs data and coronavirus drug being approved.

Earlier, European stocks declined after lower-than-expected consumer confidence and quarterly results.

“Following the positive performance in Wall Street, the FBM KLCI could extend its rebound and hover above the support of 1,475 points,” JF Apex said.

Related Stocks

AAX 0.090
APEX 0.990
BURSA 9.060
EUPE 0.810
FSBM 0.150


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