jfapex
Daily Highlights-21 January 2021
Market Thoughts
US markets rallied overnight as President Joe Biden was sworn into office, while a slew of strong corporate earnings boosted sentiment on Wall Street. Earlier, European stocks closed higher on Wednesday, ahead of the inauguration of President-elect Joe Biden.
On the local market, the FBM KLCI ended flat after shedding 0.34 points to 1601.54 points. Following the bullish performance in Wall Street, the FBM KLCI could follow suit and stage a rebound with support at 1590 points.
Stocks to watch are: Cymao has secured a subcontract worth RM134.02 million for a proposed mixed development project at Wilayah Sungai Kelian Baru, Mukim Batang Padang in Perak; Fintec Global has reached an agreement with Robayu Corporation to enter into a memorandum of agreement to supply medical grade gloves in Europe; Zhulian’s net profit rose 49% to RM13.55 million for the fourth quarter ended Nov 30, 2020, from RM9.1 million a year earlier, thanks to higher revenue. With better earnings in the quarter, the group declared a fourth interim dividend of three sen per share, as well as a special dividend of five sen per share, amounting to a total of eight sen; Axis REIT saw its net property income (NPI) for the fourth quarter ended Dec 31, 2020 rise 8.31% to RM51.11 million from RM47.19 million a year earlier, thanks to higher revenue; Hibiscus Petroleum said the UK Oil and Gas Authority (OGA) had yesterday (Jan 19) advised that two of the three licence agreements pursuant to the OGA’s offer for award received by Hibiscus’ indirect wholly-owned subsidiary Anasuria Hibiscus UK Ltd have been fully executed. Hibiscus said the licence agreement for the third offer is in the process of being fully executed; Widad’s major stakeholder Widad Business Group Sdn Bhd, an integrated facility management, property and construction conglomerate, is planning to build a mixed development project in Pulau Langkawi with an estimated gross development value of RM40 billion. The group said the project, dubbed Widad@Langkasuka, is expected to be completed within 15 to 20 years; YTL Corp has reportedly submitted its planning application to local councils for a new development called the Hangout, a pop-up village which offers tipi-style restaurants, temporary retail and entertainment space in Bristol, the UK; MAHB is looking at several options in airport investments under the new operating agreement (OA) that it is currently negotiating with the Government, including the option of self-funding, supported by profit guarantees from the Government; Genting Malaysia’s unit Resorts World Genting (RWG) is temporarily shutting operations, in line with the government’s plan to implement the movement control order (MCO) in Pahang, where it is based, from Jan 22 to Feb 4, 2021.
Malaysia News & Highlights
Economics
- BNM keeps OPR at 1.75% amid continued recovery of global economy but downside risks remain
- Palm output hit by double whammy of floods and scarce labor
Quarterly Results
- Zhulian’s 4Q net profit climbs 49%, declares eight sen dividend
- Axis REIT says 4Q net income up 8.31%, declares DPU of 2.25 sen
Company Development and Outlooks
- YTL Corp unit submits plan for new Hangout pop-up village in Bristol
- Widad to develop project worth RM40 billion GDV in Langkawi
- MAHB allocates RM400m capex for 2021
- Hibiscus Petroleum unit’s two UK licence agreements fully executed
- Fintec unit reaches agreement to supply gloves in Europe
Contract Secured and Awards
- Cymao secures subcontract worth RM134m for mixed development project in Perak
Foreign News
- Stocks rally to a record as Biden sworn in as president, Netflix soars
- European markets close higher ahead of Joe Biden’s inauguration
- Oil rises on U.S. stimulus hopes, tighter market under Biden (Overnight closing)
- Gold gains more than 1% as focus turns to Biden administration (Overnight closing)
More articles on jfapex
Pesona Metro Holdings Berhad - Building the Future
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
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
.png)
Apps
Top Articles
1
Stock Market Enthusiast
PBBANK: Technical Outlook Suggest Target of RM5 (Uptrend but Overbought) - KingKKK
3
4
save malaysia!
5
M+ Online Research Articles
6
7
TA Sector Research
8
MQ Market Updates
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
