Trading ideas: Public Bank, Eco World, Managepay, Poh Kong, Tanjung
Thursday, 26 March 2015
KUALA LUMPUR: Public Bank, Eco World Development, Managepay Systems, Poh Kong and Tanjung Offshore could see trading interest on Thursday amid tough market conditions after the overnight plunge on Wall Street, says JF Apex Research.
It said US markets plunged after February durable goods order dropped, indicating weak global demand and stronger US dollar. Similarly, European stocks fell sharply despite better-than-expected business sentiment data in Germany.
At Bursa Malaysia, the FBM KLCI closed up 5.06 points to 1,819.10 to extend its winning streak.
“Following the decline in US markets, we expect profit taking to kick in and the index could consolidate below its resistance of 1,830,” it said.
Public Bank received approval from the State Bank of Vietnam to buy the remaining 50% stake it does not own in VID Public Bank (VPB) from the Bank for Investment and Development of Vietnam (BIDV).
Eco World Development’s associate Eco World International will be developing a 300-unit residential project in Paramatta, Sydney, in Australia with project GDV of A$300mil.
Managepay Systems to place out up to 30% of its issued and paid-up share capital to third party investors that it has yet to identify, with the issue price fixed at 23 sen per share.
Poh Kong’s 2QFY15 net profit jumped 496% on-year to RM7.71mil on improved gross profit margin despite revenue fell 4.6% on-year to RM216.45mil, due to decreased demand for gold investment products and jewellery items.
Tanjung Offshore withdrew legal charges against director Tan Sri Tan Kean Soon and several others.
http://www.thestar.com.my
Thursday, 26 March 2015
KUALA LUMPUR: Public Bank, Eco World Development, Managepay Systems, Poh Kong and Tanjung Offshore could see trading interest on Thursday amid tough market conditions after the overnight plunge on Wall Street, says JF Apex Research.
It said US markets plunged after February durable goods order dropped, indicating weak global demand and stronger US dollar. Similarly, European stocks fell sharply despite better-than-expected business sentiment data in Germany.
At Bursa Malaysia, the FBM KLCI closed up 5.06 points to 1,819.10 to extend its winning streak.
“Following the decline in US markets, we expect profit taking to kick in and the index could consolidate below its resistance of 1,830,” it said.
Public Bank received approval from the State Bank of Vietnam to buy the remaining 50% stake it does not own in VID Public Bank (VPB) from the Bank for Investment and Development of Vietnam (BIDV).
Eco World Development’s associate Eco World International will be developing a 300-unit residential project in Paramatta, Sydney, in Australia with project GDV of A$300mil.
Managepay Systems to place out up to 30% of its issued and paid-up share capital to third party investors that it has yet to identify, with the issue price fixed at 23 sen per share.
Poh Kong’s 2QFY15 net profit jumped 496% on-year to RM7.71mil on improved gross profit margin despite revenue fell 4.6% on-year to RM216.45mil, due to decreased demand for gold investment products and jewellery items.
Tanjung Offshore withdrew legal charges against director Tan Sri Tan Kean Soon and several others.
http://www.thestar.com.my
