US markets closed in the green following the news that former Federal Reserve Chair Janet Yellen is expected to be nominated by President-elect Joe Biden to be Treasury Secretary. Meanwhile, European markets ended mixed amid vaccine optimism.
On the local market, the FBM KLCI gained 3.73 points or 0.23% to 1597.48 points. Following the positive performance posted by the Wall Street, the local benchmark index could follow suit with its resistance level of 1615 points.
Stocks to watch are: Serba Dinamik, Karex, Hextar Global, CCK, Sime Darby Plantation, BP Plastics, MTAG, Dancomech, Wegmans, Tiong Nam after posting better y-o-y quarterly results; whilst MRCB, Dayang, Sunway REIT, Guan Chong, HLT recorded weaker y-o-y performances; Eonmetall, which was slapped with an unusual market activity (UMA) query by Bursa Malaysia, said it is in talks to acquire a glove manufacturer; Mesiniaga has inked an agreement to provide hardware and software services for an information technology (IT) and engineering network modernisation project with Maxis Broadband Sdn Bhd for RM22 million; Top Glove has confirmed that it will temporarily shut down 28 factories in Klang, Selangor following an insurgence of Covid-19 cases among its workers; Kanger International said it had received support from the Ministry of Science, Technology and Innovation (MOSTI) to purchase Covid-19 vaccines for private-sector use in Malaysia; Acme Holdings has partnered with artificial intelligence (AI) innovation firm Skymind Holdings Bhd (SHB) and investment holding firm Java Multimedia Sdn Bhd (JMSB) to collaborate in the manufacture of hardware devices for AI; Hibiscus Petroleum expects to bid for assets in Southeast Asia in the next six months using part of the RM203.6 million proceeds raised from the convertible redeemable preference shares (CRPS); Samaiden has secured a RM115.6 million contract from BTM Resources Bhd’s wholly-owned subsidiary BTM Biomass Products Sdn Bhd to develop a biomass-based power plant in Terengganu.
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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