US markets declined overnight as investors took profit from record high levels amid retail sales rising less than expected. Similarly, European stocks dropped as the vaccine-fueled rally took a breather.
On the local market, the FBM KLCI gained 10.49 points to 1610.15 points. Following the negative performance in Wall Street, the FBM KLCI could hover sideways below its resistance of 1615 points.
Among stocks to watch are PetDag, FGV and MISC after their quarterly results, K-One Technology secures RM30 million AWS cloud services contract, AirAsia Group Bhd’s 33%-owned associate AirAsia Japan Co Ltd (AAJ) has filed for bankruptcy, Batu Kawan Bhd is acquiring a 56.32% stake in Chemical Company of Malaysia Bhd (CCM) from PNB for RM292.97 million, Unisem (M) Bhd is to have a private placement of 72.71 million shares to raise up to RM399.9 million to fund expansion plans in Malaysia and China, Tenaga Nasional Bhd (TNB) has sued Iskandar Waterfront City Bhd (IWCity) for RM76.56 minion for damage to its undersea cables and AT Systemization Bhd is raising RM99.31 million through another private placement, which will involve it issuing up to 750.04 million shares or 20% of its total issue price.
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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