BANKING stocks see-sawed this week on news that the government has instructed financial institutions to work on waiving interest repayment for recipients of loan moratoriums in the lower income category.
UOB Kay Hian upbeat on gaming as NFOs restart operations thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
(BToto) said net profit fell 62% in the March quarter to RM18.68mil on revenue of RM1.12bil due to Covid-19 restrictions. Sports Toto Malaysia Sdn Bhd, the group s principal subsidiary, registered a decrease in revenue and pre-tax profit of 36.1% and 65.1%, respectively. The lower revenue registered in the current quarter was mainly due to the implementation of the Second Movement Control Order (MCO 2.0) in all states in Malaysia except for Sarawak from Jan 13 to Feb 18. Even though Sports Toto outlets resumed operations on Feb 19, sales recovery was slower than expected due to weaker consumer sentiments and consumers being cautious in patronising sales outlets during the Conditional MCO period.
The Week That Was - Stimulus, PNB, Felda, Glove exports thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Trading ideas: Genting Malaysia, Kossan, Careplus, KPJ, Magnum, BToto thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
were touted as recovery plays following the potential dispensation of Covid-19 vaccines. However, the latest two-week travel restriction starting tomorrow may see lower NFO sales and reduced visitors to Genting Malaysia’s flagship integrated resort, Resorts World Genting (RWG). Maybank IB Research said it is cutting Genting Malaysia’s financial year 2021 earnings per share (EPS) by 58% following the MCO, which will be enforced in six states, including Selangor and Kuala Lumpur, which are RWG’s key markets. Individuals from these states will not be allowed to travel inter-state. “While most of RWG is located in Pahang, where a looser conditional MCO (CMCO) will be reimplemented, we gather that the great majority of day trippers – about 75% of total visitor arrivals – who visit RWG are from Selangor and Kuala Lumpur, ” the research firm said in a note yesterday.
KUALA LUMPUR (Dec 17): CGS-CIMB has overweight ratings on bank, healthcare, gaming, oil and gas, electronics manufacturing services (EMS), media and rubber gloves sectors, and underweight ratings on chemicals and transport. The research house said in a report that it likes the bank, gaming, oil and gas, EMS and media sectors for exposure to a recovering economy post-Covid-19. “We continue to like the gloves sector, as it is expected to deliver record earnings in 2021 due to strong demand for gloves following the Covid-19 outbreak. “However, as we had cautioned earlier, the key risk is that the rubber gloves is now a crowded trade given its stellar share price performance in 9M20 (first nine months of 2020). This, coupled with concerns over the treatment of its workers and potential new capacities coming on stream, has led investors to rotate out of the gloves sector into banks,” it said.