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NewsTrading ideas: Tenaga, Protasco, Muhibbah, Asia Knight Monday, 3 November 2014
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Trading ideas: Tenaga, Protasco, Muhibbah, Asia Knight Monday, 3 November 2014
by Cals Mon 03 Nov 2014, 09:20
Trading ideas: Tenaga, Protasco, Muhibbah, Asia Knight
Monday, 3 November 2014KUALA LUMPUR: JF Apex Research expects Tenaga Nasional, Protasco, Muhibbah Engineering and Asia Knight to see trading interest on Monday.
Tenaga Nasional’s 4Q net profit surged 46% on-year on the back of higher sales and electricity tariff.
The research house said Protasco’s boardroom tussle continues after the board has rejected the proposal to remove its managing director Datuk Seri Chong Ket Pen. Instead it will hold an EGM on Nov 26 to remove non-executive director Tey Por Yee and another director.
JF Apex Research said in the limelight would be Muhibbah Engineering after the group’s shipyard unit, Muhibbah Marine Engineering Sdn Bhd clinched two contracts worth RM219mil for the sale of two anchor handling tug supply vessels to Silk Holdings.
Asia Knight, the group has fallen into PN17 after company auditors expressed their disclaimer opinion in the company.
On Wall Street last Friday, US stocks surged on Friday, lifting the Dow industrials and S&P 500 to record closes, after the Bank of Japan unexpectedly expanded stimulus, increasing hopes for the global economy.
At Bursa Malaysia, the FBM KLCI rose 12.37 points to 1,855.15 following a last minute surge.
“We expect the index to hover around 1,850 with potential profit taking,” it said.
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