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Serba Dinamik Holdings Bhd – 28th Sep 20

Serba Dinamik Holdings Bhd (Serba Dinamik) and Huawei Technologies (M) Sdn Bhd have formed a partnership to drive digital transformation in urban and rural Malaysia. Both signed a memorandum of understanding (MOU) which marks the start of the partnership to develop digital solutions via the adoption of Huawei Cloud and Artificial Intelligence (AI) technology.

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market pulse

Bargain hunting may take shape

In contrast with the regional gains, the FBM KLCI failed to sustain its intraday gains as the key index slipped into negative territory during the final trading hour. We expect the arrival of the second batch of Pfizer-BioNTech vaccine today and the vaccine distribution to different states will continue to attract buying interest in recovery-theme stocks moving forward. Meanwhile, crude oil price continued to remain firm above the USD65 level for the time being. Also, traders will focus on high earnings certainty sectors during this reporting season.

Leong Hup International Bhd – 24th Feb 21

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technical focus

Technical Focus – PPHB

Primarily focused on the production and sale of paper packaging products and is supported by seven manufacturing plants in Malaysia and two sales offices in Malaysia and Singapore. Offers JIT (Just–In-Time) services, Total Packaging Concepts, Designing & Supply Chain Management. Solid balance sheet with a net cash position of RM48.7m in FY20, translating to net cash per share of 25.8 sen (c.25.3% of share price). Technically, a breakout above RM1.03 may target the next resistances at RM1.08-1.17, with long term target at RM1.25.

market pulse

Corporate earnings in focus

Selling pressure in glove heavyweights triggered as Covid-19 could come to an end with the arrival of Covid-19 vaccine. Despite selling activities on Wall Street overnight, we believe there could be some fresh buying support given the IDSS and PDT short sale have been extended for another 6 months. We believe traders may lookout for bashed down stocks yesterday. Also, we observed that the Brent oil price has climbed strongly overnight above USD65.

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