US markets rose overnight led by gains in technology counters despite lawmakers failing to agree on the US$2.2 trillion stimulus package. Earlier, European stocks climbed after manufacturing PMI came within expectations.
On the local market, the FBM KLCI lost 8.05 points to 1496.77 points. Following the positive performances in the US and Europe, the FBM KLCI could stay buoyed above the support of 1475 points.
Among stocks to watch are: GFM Services has clinched a three-year contract to provide operations and maintenance services at Villages 1 and 2 and their associated facilities located at the Pengerang Integrated Complex (PIC) in Johor from Petroliam Nasional Bhd (Petronas); MyEG will be offering online renewal of motorcycle road tax and competent driving licence (CDL) in an expansion of services provided for the Road Transport Department (JPJ); Metronic Global has entered into a collaborative project with Singapore's JF Strategic Management Pte Ltd (JFSM) to develop what it termed "smart factories" and "space optimisation"; NTPM said it is disposing of its toilet rolls and tissue manufacturing subsidiary, as the firm has continuously incurred losses with little prospects of a turnaround in the near future. The group is selling its entire 100% interest in NTMP Paper Mill (Bentong) Sdn Bhd) to XSD International Paper Sdn Bhd for RM27.5 million cash; Kossan said it will be paying an estimated total remediation fee of RM50 million to its migrant workers. The rubber glove maker said it has finalised its remediation plan after extensively investigating the situation and consulting multiple stakeholders; Plantation counters as the Ministry of Human Resources said he received information that another large company in Malaysia will face similar action by the US following earlier alleged use of forced labour by FGV Holdings Berhad in its production process; Tan Chong Motor has teamed up with PT SGMW Motor Indonesia to explore opportunities in introducing PT SGMW's vehicle products to Malaysia and Thailand.
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Created by jfapex | Aug 26, 2024
Pesona is valued at RM0.46 based on a Sum of Parts valuation, which also corresponds to a 13.0x 1-year forward PER of the Group’s FY25F EPS of 3.5 sen. This valuation is a discount to Bursa Construc