Trading ideas: Dialog, Sunway Reit, Gas Malaysia, Marine & General, Pos Malaysia

KUALA LUMPUR: Dialog Group Bhd, Sunway Real Estate Investment Trust (REIT), Gas Malaysia Bhd, MARINE & GENERAL BHD, Pos Malaysia Bhd and Duopharma Biotech Bhd are among the stocks to watch on Friday, according to JF Apex Research.

Dialog saw its 2QFY20 net profit surge 15.53% year-on-year on higher income from operations and joint ventures, lower finance costs and lower tax expense.

Sunway REIT’s 2QFY20 net property income grew almost 12% yoy as revenue expanded 11.7% on contribution from its newly acquired Sunway university & college campus and improved performance across all segments.

Gas Malaysia closed its 4QFY20 with a net profit of RM57.93mil, up 13.41% year-on-year thanks to higher share of results from its joint ventures.

Marine & General has secured a contract from Petronas Carigali Sdn Bhd for the provision of one offshore support vessel worth about RM14mil.

Duopharma Biotech’s 4QFY19 net profit fell 16% year-on-year mainly due to higher costs amid higher revenue.

On a separate note, the group reveals it has obtained a 25-month extension on a Government contract.

Barakah was served with a summons and claims of RM85.2mil from PRPC Utilities and Facilities Sdn Bhd, a unit of Petroliam Nasional Bhd.

Pos Malaysia is selling a 49% stake in its indirect wholly-owned subsidiary Pos Aviation Engineering Services Sdn Bhd to SIA Engineering Co Ltd (SIAEC) for an indicative cash consideration of RM10.09mil to facilitate the entry of SIAEC as Pos Aviation Engineering’s strategic partner.

Meanwhile, US markets declined from record high levels after the coronavirus outbreak intensified.

Similarly, European stocks tumbled following heightened fears over the coronavirus situation in China.

“Following the bearish sentiment stemmed from the outbreak, the FBM KLCI could remain negative with support at 1,520 points,” JF Apex said.

Source: TheStar