Trading ideas: Parkson, Axiata, Sona Petroleum, IJM Corp, Silk Holdings
PARKSON (5657), AXIATA (6888), SONA (5241), IJM (3336), SILKHLD (5078),
KUALA LUMPUR: JF Apex Research expects Parkson, Axiata Group, Sona Petroleum, IJM Corp and Silk Holdings are the counters which could see trading interest on Tuesday.
It said Parkson’s first quarter net profit fell 34% on-year, its lowest quarterly net income in seven years as earnings in China operations more than halved on intense competition.
Axiata posted lower than expected 9M14 net earnings as 3Q14 results were dragged down by its subsidiaries Celcom and XL.
Sona Petroleum said it is still committed to finalising the acquisition of O&G assets in Thailand from Salamander Energy despite a rival offer by Ophir Energy. The latest development was its announcement on Tuesday that it had received the Securities Commission approval to buy the assets.
JF Apex Research pointed out IJM Corp and Silk Holdings could be in focus as the companies mutually decided to abort the RM395mil Kajang highway deal.
It also said MMC Corp, MISC, and NCB Holdings could also attract attention on a media report that MMC Corp is believed to be in talks with MISC to buy the latter’s 15.73% equity stake in NCB Holdings.
Overnight on Wall Street, US stocks rose overnight with retailers gaining as investors bet lower gasoline prices will translate into increased sales as consumers shop for holiday gifts.
At Bursa Malaysia, the FBM KLCI rallied 24.64 points to close at 1,833.77 on Monday.
“Asian indices could open mixed today despite an inspiring handover from Wall Street overnight as traders lock in gains. We expect the KLCI to test its resistance of 1,835,” it said.
http://www.thestar.com.my
PARKSON (5657), AXIATA (6888), SONA (5241), IJM (3336), SILKHLD (5078),
KUALA LUMPUR: JF Apex Research expects Parkson, Axiata Group, Sona Petroleum, IJM Corp and Silk Holdings are the counters which could see trading interest on Tuesday.
It said Parkson’s first quarter net profit fell 34% on-year, its lowest quarterly net income in seven years as earnings in China operations more than halved on intense competition.
Axiata posted lower than expected 9M14 net earnings as 3Q14 results were dragged down by its subsidiaries Celcom and XL.
Sona Petroleum said it is still committed to finalising the acquisition of O&G assets in Thailand from Salamander Energy despite a rival offer by Ophir Energy. The latest development was its announcement on Tuesday that it had received the Securities Commission approval to buy the assets.
JF Apex Research pointed out IJM Corp and Silk Holdings could be in focus as the companies mutually decided to abort the RM395mil Kajang highway deal.
It also said MMC Corp, MISC, and NCB Holdings could also attract attention on a media report that MMC Corp is believed to be in talks with MISC to buy the latter’s 15.73% equity stake in NCB Holdings.
Overnight on Wall Street, US stocks rose overnight with retailers gaining as investors bet lower gasoline prices will translate into increased sales as consumers shop for holiday gifts.
At Bursa Malaysia, the FBM KLCI rallied 24.64 points to close at 1,833.77 on Monday.
“Asian indices could open mixed today despite an inspiring handover from Wall Street overnight as traders lock in gains. We expect the KLCI to test its resistance of 1,835,” it said.
http://www.thestar.com.my
