Trading ideas: FGV, Carlsberg, Minda Global, Dolomite

KUALA LUMPUR: Stocks to watch on Monday include FGV Holdings Bhd, CARLSBERG BREWERY MALAYSIA BHD, Minda Global Bhd and Dolomite Corp Bhd, according to JF Apex Research.

FGV Holdings is diversifying into the business of dairy farming and fresh milk processing, a step towards becoming an integrated agrifood company.

The group is spending RM10mil to acquire new shares amounting to a 60% equity interest in the enlarged share capital of RedAgri Farm Sdn Bhd, which owns the Bright Cow brand of dairy products.

Carlsberg Brewery announced that Customs has cancelled its bill of demand claiming for sales tax and penalty totalling RM20.65mil.

Minda Global is planning to consolidate every 10 shares in the company into 1 new consolidated share, to shed the impression that its shares are just a “penny stock”.

A subsidiary of loss-making Dolomite Corp has been instructed by the High Court here to pay RM35.46mil to Fadzilah & Fikri Sdn Bhd, after having failed to set aside a summary judgement application filed by the latter.

Meanwhile, US markets ended mixed on Friday with the Dow falling while the S&P and Nasdaq eked out record highs amid slower retail sales and quarterly results.

The Dow Jones Industrial Average fell 25.57 points, or 0.09%, while the S&P 500 and Nasdaq gained 0.18% and 0.2%, respectively.

Earlier, European stocks declined following ongoing concerns on the coronavirus outbreak.

“Following the lacklustre performance and negative sentiment in global markets, the FBM KLCI is expected to remain pressured with support at 1,520 points, ” JF Apex said.

Source: TheStar