On Friday, US markets rose to record high levels amid potential stimulus aid by President Biden and worse-than-expected unemployment data. Earlier, European stocks advanced on news on vaccines and hopes of economic recovery.
On the local market, the FBM KLCI jumped 30.24 points to 1633.19 points following strong gains in glove counters. Following concerns of rising COVID-19 cases in Malaysia, buying interest in glove counters could persist and therefore lift the FBM KLCI to test its immediate resistance of 1650 points.
Stocks to watch are: VS Industry has set aside RM200 million in capital expenditure (capex) for FY21 to expand and enhance its capacity and capabilities; A subsidiary of Bintai Kinden has been appointed by South Korea’s SLAB Asia Co Ltd, as the exclusive distributor for the Greenie Medi Cold Chain Box designed for the storage and distribution of Covid-19 vaccines in Malaysia; Sentoria is selling two parcels of land measuring 747,069 sq m collectively in Kedah for RM27.9 million, to repay bank borrowings; APFT will be delisted from Bursa Malaysia on Jan 13, after the bourse dismissed the company’s appeal for an extension of time to submit its regularisation plan for approval.
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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