US markets were closed yesterday due to the Thanksgiving Day. Meanwhile, European markets ended lower, taking breather from a recent global rally.
On the local market, the FBM KLCI closed up 14.53 points or 0,91% to 1612.11 points following the Budget 2021 approval. We expect some profit taking activities to weigh on the FBM KLCI with our resistance and support level of 1615 and 1550 points respectively following recent rally.
Stocks to watch are: Sarawak Oil Palms, Westports, IHH after posting better y-o-y quarterly results; whilst Dutch Lady, Genting Malaysia, YTL, Heineken, Time dotcom recorded weaker y-o-y performances; Bina Puri, through its joint-venture SPTK Joint Venture Co Ltd (SPTK JV), has signed a contract package with State Railway of Thailand (SRT) on the high-speed railway (HSR) project worth RM1.04b to connect Bangkok to Nakhon Ratchasima; HeiTech Padu announced that it had entered into a memorandum of understanding (MoU) with Regal Orion Sdn Bhd (RO) to explore all possible business collaborations to unlock potential business synergies via their respective competitive advantages and enhance data centre-related business activities in Malaysia; Ho Hup has signed an agreement with its major shareholder Low Chee Group Sdn Bhd to jointly develop two parcels of freehold lands, totalling 11.77 acres in Ampang.
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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