Market Thoughts
US markets dipped on last Friday after rising new coronavirus cases. However, the European markets closed up marginally higher, with oil and gas counters led the charge.
On the local market, the FBM KLCI gained 10.07 points or 0.64% to 1593.75 points. Following the mixed performances posted by the overseas markets, the local benchmark index could trend sideways, hovering between its support level of 1550 points and resistance level of 1615 points in the short term.
Stocks to watch are: Rubberex, CSC Steel, Sarawak Plantation, Asia Brands after posting better y-o-y quarterly results; whilst InNature, Tropicana, Perdana Petroleum, Tune Protect, Master-Pack, Ho Hup, P.I.E Industrial recorded weaker y-o-y performances; Maxis’s wholly-owned Maxis Broadband Sdn Bhd (MBSB) has been hit with an RM140 million tax bill. It was served with notices of additional assessment with penalties for tax years 2016 and 2017 from the Inland Revenue Board (IRB); AirAsia X has been ordered to pay a total of RM133.05 million in two lawsuits brought against it in the UK, involving aircraft leasing.
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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