KUALA LUMPUR (Nov 4): Hong Leong IB Research is recommending Destini Bhd today and said the company is currently one of the leading maintenance, repair, overhaul (MRO) service providers in the country focusing primarily on four primary sectors, namely aviation, marine, oil & gas and land transport sectors. In a trading idea note today, the research house said that currently, Destini’s single largest shareholder is Datuk Rozabil Abdul Rahman (MD), followed by Aroma Teraju (19.4%), a wholly-owned subsidiary of the Ministry of Finance. It said Destini’s share price appears to be at the tail end of its brief retracement following a bullish flag breakout recently. “As long as share prices maintain its posture above 80 sen- 82.5 sen levels, more upside could follow next, supported by the formation of Tweezers bottom and bottoming up hourly chart indicators. “A decisive close above immediate resistance at 86 sen will spur prices higher to 89.5 sen – 99.5 sen. Cut loss at 79 sen,” it said.

Source: The Edge Markets November 04, 2016 00:42 UTC