US markets rose on last Friday following buying interests in stocks that would benefit from a potentially effective vaccine and economic recovery. Similarly, European stocks closed higher as investors felt optimistic on the prospect of an effective coronavirus vaccine.
On the local market, the FBM KLCI shed 1.09 points to 1589.69 points. Following the positive tone posted by the overseas markets, the local benchmark would continue trending above its support level of 1550 points.
Stocks to watch based on corporate newsflow are: Kumpulan Powernet has proposed a new share split plan to increase the trading liquidity of its shares, on the basis of one KPower share held being divided into four shares, which will come with the issuance of free warrants; Sasbadi, Huawei and TM One have joined forces to provide an e-learning platform to help students, especially Sijil Pelajaran Malaysia (SPM) candidates, catch up on their studies and do well in their examinations; AirAsia’s digital wallet provider BigPay Later Sdn Bhd, along with seven other “licensed credit community” companies, has obtained the approval of the Ministry of Housing and Local Government (KPKT) to provide online loans; Gets Global said its subsidiaries have been served with a summons and claims of RM385,570 from Sinotek Autoparts Sdn Bhd (SASB); The Inland Revenue Board has withdrawn its appeal against a High Court's decision to allow a judicial review sought by Tune Protect’s subsidiary Tune Insurance Malaysia Bhd (TIMB), relating to a tax dispute concerning RM10.7 million; S P Setia reported a wider net loss of RM263.4 million for its 3QFY20 compared with a net loss of RM131.5 million in 2QFY20, due to its share of impairment of RM336.3 million from the group's 40%-owned joint venture company, Battersea Project Holding Company Ltd (BPHC), in the UK; Kumpulan Fima’s 2QFY21 net profit surged 81.12% yoy, underpinned by higher profits from its plantation and bulking segments.
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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