Trading ideas: Perduren, E&O, IJM Corp, Wah Seong Corp, Sunway REIT
KUALA LUMPUR: JF Apex Research expects Perduren, Eastern and Oriental, IJM Corp, Wah Seong Corp and Sunway REIT to be among the stocks which could attract interest amid a cautious market.
It said on Tuesday US stocks fell sharply overnight with benchmarks retreating from records and the energy sector slammed as the price of crude fell below US$63 a barrel for the first time since July 2009. European shares closed lower with construction stocks continuing to weigh heavily after Wall Street opened down.
At Bursa Malaysia, the FBM KLCI closed down 8.53 points to 1,740.84.
“Following the bearish performance in the US and decline in oil price, we expect the KLCI to remain under pressure and could test its immediate support at 1,735,” it said.
On the stocks to watch, it said Perduren could see trading interest after Datuk Kamaluddin Abdullah and Datuk Mazlin Md Junid launched a mandatory takeover offer for the remaining 30.7% stake for RM66.27mil or RM1.60 a share.
Eastern and Oriental obtained approval for STP2 reclamation works off Penang island.
IJM Corp is selling its 100% stake in the Jaipur-Mahua Tollway Private Ltd (JMTPL) for RM295mil and it is expected to gain RM188mil from the disposal.
IOI Properties’ proposed purchase of a stake in Taipei 101 was opposed by the Taiwan Finance Minister as he objected to foreigners buying a stake in the landmark tower.
Wah Seong inked an agreement to sell green power in Cambodia. As for Sunway REIT, the group is buying Sunway Hotel Georgetown in Penang and Wisma Sunway in Shah Alam for RM134mil from its major shareholder Sunway Bhd.
http://www.thestar.com.my
KUALA LUMPUR: JF Apex Research expects Perduren, Eastern and Oriental, IJM Corp, Wah Seong Corp and Sunway REIT to be among the stocks which could attract interest amid a cautious market.
It said on Tuesday US stocks fell sharply overnight with benchmarks retreating from records and the energy sector slammed as the price of crude fell below US$63 a barrel for the first time since July 2009. European shares closed lower with construction stocks continuing to weigh heavily after Wall Street opened down.
At Bursa Malaysia, the FBM KLCI closed down 8.53 points to 1,740.84.
“Following the bearish performance in the US and decline in oil price, we expect the KLCI to remain under pressure and could test its immediate support at 1,735,” it said.
On the stocks to watch, it said Perduren could see trading interest after Datuk Kamaluddin Abdullah and Datuk Mazlin Md Junid launched a mandatory takeover offer for the remaining 30.7% stake for RM66.27mil or RM1.60 a share.
Eastern and Oriental obtained approval for STP2 reclamation works off Penang island.
IJM Corp is selling its 100% stake in the Jaipur-Mahua Tollway Private Ltd (JMTPL) for RM295mil and it is expected to gain RM188mil from the disposal.
IOI Properties’ proposed purchase of a stake in Taipei 101 was opposed by the Taiwan Finance Minister as he objected to foreigners buying a stake in the landmark tower.
Wah Seong inked an agreement to sell green power in Cambodia. As for Sunway REIT, the group is buying Sunway Hotel Georgetown in Penang and Wisma Sunway in Shah Alam for RM134mil from its major shareholder Sunway Bhd.
http://www.thestar.com.my
