Trading Ideas: KLK, Cycle & Carriage, Majuperak, F&N, FGV, BLand, Maxis

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 Kuala Lumpur Kepong Bhd (KLK), CYCLE & CARRIAGE BINTANG BHD, Majuperak Holdings Bhd, FRASER & NEAVE HOLDINGS BHD (F&N), FGV Holdings Bhd (FGV), BERJAYA LAND BHD (BLand) and Maxis Bhd are among the stocks to watch on Monday, according to JF Apex Research

Kuala Lumpur Kepong said it is buying a 60% stake in an Indonesian oil palm company for RM341.55 million to boost its plantation landbank.

Cycle & Carriage Bintang’s first quarter net loss more than double to RM9.7mil from RM4.36mil a year earlier no thanks to sales drop.

Majuperak is proposing to venture into the supply of natural gas and liquefied natural gas for power and utilities, cogeneration and district cooling plants.

F&N said it has received the refund of a deposit paid in connection with its proposed acquisition of a piece of land in Perlis following the cancellation of the RM156mil deal.

FGV has widened its scope in the local food industry by producing Bright Cow brand dairy products through its subsidiary, FGV Dairy Farm Sdn Bhd. FGV Dairy Farm can process 800 tonnes of fresh milk per month including production from its 4.04-hectare farm located in Linggi, Port Dickson.

Berjaya Land, controlled by tycoon Tan Sri Vincent Tan, has been accumulating shares in convenience store chain operator 7-ELEVEN MALAYSIA HOLDINGS BHD lately.

As of the latest count, Tan owns a total 47.12% stake in the convenience store chain operator through direct and indirect interests.

Maxis’ 1QFY20 net profit dropped 12.5% year-on-year amid revenue increased 4.8% year-on-year.

Meanwhile, US markets climbed on Friday after oil prices rebounded.

Earlier, European stocks dropped following renewed concerns over the coronavirus outbreak.

“Following the mixed performances in the US and Europe, the FBM KLCI is expected to remain pressured below the resistance of 1,415 points,” JF Apex said.

Source TheStar

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