US markets surged on Thursday with the Dow hitting a record high following better-than-expected unemployment data. Earlier, European stocks declined following concerns on the coronavirus and Brexit uncertainty.
On the local market, the FBM KLCI plunged 17.20 points to 1627.21 points on the last trading day of the year. Following the mixed performances in the US and Europe, the FBM KLCI could trend sideways below the resistance of 1650 points.
Stocks to watch are: Mudajaya said its 76%-owned indirect subsidiary Bera Hydropower Sdn Bhd has been selected as one of the successful bidders in a competitive Feed-in Tariff e-bidding small hydro tender exercise by the government; Hong Seng said it is acquiring a 60% stake in Neogenix Laboratoire Sdn Bhd for RM6.5 million. Neogenix is a medical diagnostic and research laboratory and provides more than 76 tests ranging from infectious diseases, oncology, precision medicine, generic tests and et cetera. Separately, the group also said it is acquiring a 32% stake in eMedAsia Sdn Bhd for RM3 million. eMedAsia currently runs a medical digital platform, which provides online clinic appointments and an e-commerce marketplace for clinics to purchase pharmaceutical, medical and healthcare supplies; The Roundtable on Sustainable Palm Oil (RSPO) has launched an immediate investigation into new violations by Sime Darby Plantation as alleged by the US Customs and Border Protection (CBP) following the issuance of a withhold release order against the company's palm oil at all US ports of entry; Top Builders Capital has obtained court orders to restrain its creditors from taking action against the group and its assets, as well as to summon them to attend meetings for the purpose of discussing restructuring arrangements; Construction counters following the news of Malaysia and Singapore have decided to terminate the Kuala Lumpur-Singapore High Speed Rail (HSR) project as both countries could not reach an agreement on several changes that the Malaysian government proposed.
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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