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Down, but not out

Amid the lack of follow-through buying interest, we reckon that the downward bias consolidation on the key index will remain in place. Additionally, the recent increase in Covid-19 cases across Peninsular Malaysia will pose a stumbling block for the nation economic recovery. Nevertheless, the lower liners are attempting to find their footing, with rotational play across sectors will keep trading interests at a decent level.
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Chin Well Holdings Bhd – 1Mar21

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OCK Group Bhd – 1Mar21

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Serba Dinamik Holdings Bhd – 1Mar21

While the oil & gas business segment will continue to anchor the overall earnings growth, Serba Dinamik is gradually shifting towards other business segments, particularly the ICT business segment. For the time being, the ICT segment orderbook of approximately RM2.2bn (close to 12.0% of total orderbook of RM18.7bn) will sustain earnings visibility over the foreseeable future.

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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