Trading ideas: Apex Healthcare, Malakoff, Destini, GHL, Kim Loong

KUALA LUMPUR: APEX HEALTHCARE BHD, Malakoff Corp Bhd, Destini Bhd, GHL Systems Bhd and Kim Loong Resources Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Apex Healthcare’s 4QFY19 net profit fell 16.66% year-on-year despite rising revenue, no thanks to higher administrative and tax expenses.

Malakoff’s 4QFY19 net profit rose 24.5% year-on-year, driven by a one-off gain from the disposal of the group’s investment in Australia.

Destini’s wholly-owned Destini Armada Pte Ltd is acquiring Indonesia-based PT Muara Badak Perkasa (PT MBP) for S$4mil (about RM12mil), which will allow Destini to diversify its business to include the provision of jetty and port-related services to mining companies.

GHL Systems has partnered with Aspirasi, the digital financing platform and fintech provider of Axiata Group Bhd ‘s unit Axiata Digital Services Sdn Bhd, to provide local SMEs and micro-entrepreneurs digital access to GHL’s new financing business.

Kim Loong Resources is buying four plots of oil palm plantation land in Sabah for RM92.53 million to increase its land bank and long-term profitability growth.

Overnight, the S&P 500 and Nasdaq Composite rose to record highs as tech shares outperformed while investors continued to weigh the coronavirus’ impact on the global economy.

Likewise, the pan-European Stoxx 600 closed provisionally up by around 0.8%, having notched a fresh record high earlier in the session.

Technology shares led the gains with a 1.4% jump as all sectors and major bourses traded in positive territory.

“Following the positive performances in the US and Europe, the FBM KLCI could follow suit and trend higher with its resistance level at 1,560 points, ” JF Apex said.

Source: TheStar