Trading ideas: AirAsia, KESM, Ageson, Lion Industries, Jade Marvel


KUALA LUMPUR: AirAsia Group Bhd, KESM Industries Bhd, Ageson Bhd and Jade Marvel Group Bhd are among the many shares to look at on Monday, in line with JF Apex Research.

AirAsia is now within the midst of formulating a plan to regularise its monetary situation, its group chief government officer Tan Sri Tony Fernandes mentioned after the group has been categorized as PN17.

KESM Industries mentioned its plant in China underneath KESM Industries (Tianjin) Co Ltd has stopped manufacturing to look at lockdown laws imposed by the native authorities following the invention of Covid-19 circumstances.

Ageson has determined to scrap its sand provides deal, value an estimated mixed worth of RM27.96bil.

It attributed the choice to “high shipping costs” brought on by the Covid-19 pandemic.

It claimed it had not commenced the sand buying and selling enterprise to date, including that “the sand offer letters do not constitute any legally-binding commitment and there were no definitive agreements entered between the parties as at the date of this announcement”.

Lion Industries has proposed to get rid of its whole stake in Eden Flame Sdn Bhd, which owns a long-steel product manufacturing plant in Pasir Gudang, for RM135.88mil money;

Jade Marvel is planning to collaborate with Chinese firm Shangdong Xinhai Mining Technology & Equipment Inc (Shangdong Xinhai) to discover enterprise alternatives in mineral processing and options in Malaysia.

Meanwhile, JF Apex mentioned the US market ended blended on Friday with the Dow dropping whereas the S&P and Nasdaq rose barely amid selldown in banking shares on account of expectation of upper rates of interest.

Earlier, European shares declined following hawkish feedback from the US Federal Reserve and expectation of coverage tightening.

“Following the lacklustre performance in global markets, the FBM KLCI could remain pressured with support at 1,515 points,” it mentioned.

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