US stocks declined overnight and came off record high levels as investors assess progress on the coronavirus fiscal stimulus. Meanwhile, European stocks closed higher amid optimism over coronavirus vaccinations and progress in the post-Brexit trade talks between the U.K. and EU.
On the local front, the FBM KLCI surged 14.83 points to 1646.53 points following gains in banking counters. The local bourse is expected to take a breather and trend sideways below its resistance level of 1650 points.
Stocks to watch are:
Top Glove Corp Bhd's first-quarter (1QFY21) net profit surged to RM2.38 billion from RM111.43 million a year earlier, as revenue rose to RM4.76 billion from RM1.21 billion, Kumpulan Powernet Bhd (KPower) has bagged a contract worth RM296 million for a mini-hydropower plant in Perak, My EG Services Bhd (MyEG) is planning to raise up to RM407 million via placement to fund the development of hostels for foreign workers under an ongoing project, develop healthcare-related services, and to buy fixed assets like kiosks for the online renewal of car and motorcycle road tax under its e-government concession business, Public Bank Bhd has denied any involvement in a joint venture with G Capital Bhd to set up a new full-fledged commercial bank in Cambodia, Cymao Holdings Bhd has been slapped with an unusual market activity (UMA) query on the sharp rise in its share price and volume recently, AWC Bhd has secured a hospital support services contract from the Health Ministry worth RM107.89 million, India-based conglomerate Tata Group will stop dues payment by AirAsia (India) Ltd to AirAsia Group Bhd, if the latter does not provide funding to their low-cost airline joint venture before Dec 31, 2020 and the government has decided to withdraw the approval of indirect property acquisition by Tamaco Plantation Sdn Bhd from TH Plantations Bhd.
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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