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Containing MCO 2.0 impact through PERMAI

The FBM KLCI extended another red bar as the talks around OPR cut in the mid-week continued to weigh on the major constituents of the key index – banking stocks. Meanwhile, the technology sector outperformed the local bourse yesterday as investors continued to like the sector for its higher earning certainty. We reckon the announcement by the Prime Minister of a RM15.00bn Malaysian Economic and Rakyat’s Protection Assistance Package (PERMAI) might lift the market sentiment, albeit investors’ sentiment to stay cautious ahead of the BNM MPC meeting.
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Chin Well Holdings Bhd – 1Mar21

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Serba Dinamik Holdings Bhd – 1Mar21

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technical focus

Technical Focus – MESB

Primarily involved in the retailing and trading of quality leatherwear products and operates a few boutiques and over 270 consignment retail counters throughout premier departmental store in Malaysia. Consumer spending may accelerate following the roll-out of Covid-19 vaccine across the globe. Solid balance sheet with a net cash position of RM19.1m in 2QFY21, translating to net cash per share of 18.0 sen (c.35.2% of share price). Technically, price has rebounded to form a flag-formation breakout above RM0.55, targeting the next resistances at RM0.575-0.595, with long term target at RM0.63.

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