TRADING IDEAS: AEON CREDIT, CIMB, DELEUM, VIZIONE
Wednesday, 16 Jan 2019
8:48 AM MYT
KUALA LUMPUR: Aeon Credit Service (M) Bhd, CIMB Group Holdings Bhd, Deleum Bhd and Vizione Holdings Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.
Aeon Credit has been granted a money lending licence under the Moneylenders Act 1951 and Moneylenders (Control and Licensing) Regulations 2003 by the Ministry of Housing and Local Government.
CIMB’s 98.43%-owned subsidiary CIMB Thai Bank PCL saw its net profit for the fourth quarter ended Dec 31, 2018 fall 98.2% to 6.9 million baht (RM886,469) from 384.9 million baht a year ago, due to higher operating expenditure.
Deleum has won a three-year contract to provide slickline equipment and services for Petronas Carigali Sdn Bhd.
Vizione posted another quarter of record earnings as net profit for the quarter ended Nov 30, 2018 almost tripled to RM19.44mil from RM6.55mil a year earlier due to the higher construction works.
Meanwhile, US markets rose overnight following gains in technology counters and easing concerns over China’s economic growth.
The Dow Jones Industrial Average rose 155.75 points to 24,065.59 while the S&P 500 gained 1.07 percent to close at 2,610.30.
Earlier, European stocks climbed ahead of Brexit vote.
“Following the positive performance in global markets, the FBM KLCI could climb towards its resistance of 1,710 points,” JF Apex said.