Trading ideas: Berjaya Land, Paramount, IJM Corp, LBS Bina, Kanger
BJLAND (4219), PARAMON (1724), IJM (3336), LBS (5789)
KUALA LUMPUR: JF Apex Research expects Berjaya Land, Paramount, IJM Corporation, LBS Bina and Kanger International to see trading interest on Monday following the recent corporate developments.
It said Berjaya Land aborted a plan to sell its 70% stake in Berjaya (China) Great Mall Co Ltd (GMOC), which is developing the RM7.5bil Great Mall of China project in Hebei Province, China, to Hong-Kong listed Carnival Group International Holdings Ltd.
As for Paramount, the group is buying 12 parcels of freehold land in Salak Tinggi, Sepang from NCT United Development Sdn Bhd for RM227.38mi or RM22 psf with the land expected to yield an estimated gross development value (GDV) of RM1.1bil.
IJM bagged a contract to build the superstructure for the Puteri Cove Residences in Johor Bahru for RM538.5mil.
JF Apex Research said LBS Bina declared a special dividend of six sen per share, to be paid on Feb 6 while the ex-date is Jan 23.
Kanger plans to raise up to RM100mil via a redeemable convertibles notes (RCN) programme to expand into property investment and management
Last Friday, US stocks ended near unchanged on Friday, with the S&P 500 down for a third session, after economic reports showed manufacturing slowing but still in expansion mode at the end of 2014. European shares closed mixed after European, U.S. and Chinese manufacturing data disappointed.
“On the local market, the FBM KLCI fell 8.48 points to close as 1,752.77. With the lacklustre performance in the US and Europe, we expect further downside for the KLCI after failing to break the resistance of 1,765,” it said.
http://www.thestar.com.my
BJLAND (4219), PARAMON (1724), IJM (3336), LBS (5789)
KUALA LUMPUR: JF Apex Research expects Berjaya Land, Paramount, IJM Corporation, LBS Bina and Kanger International to see trading interest on Monday following the recent corporate developments.
It said Berjaya Land aborted a plan to sell its 70% stake in Berjaya (China) Great Mall Co Ltd (GMOC), which is developing the RM7.5bil Great Mall of China project in Hebei Province, China, to Hong-Kong listed Carnival Group International Holdings Ltd.
As for Paramount, the group is buying 12 parcels of freehold land in Salak Tinggi, Sepang from NCT United Development Sdn Bhd for RM227.38mi or RM22 psf with the land expected to yield an estimated gross development value (GDV) of RM1.1bil.
IJM bagged a contract to build the superstructure for the Puteri Cove Residences in Johor Bahru for RM538.5mil.
JF Apex Research said LBS Bina declared a special dividend of six sen per share, to be paid on Feb 6 while the ex-date is Jan 23.
Kanger plans to raise up to RM100mil via a redeemable convertibles notes (RCN) programme to expand into property investment and management
Last Friday, US stocks ended near unchanged on Friday, with the S&P 500 down for a third session, after economic reports showed manufacturing slowing but still in expansion mode at the end of 2014. European shares closed mixed after European, U.S. and Chinese manufacturing data disappointed.
“On the local market, the FBM KLCI fell 8.48 points to close as 1,752.77. With the lacklustre performance in the US and Europe, we expect further downside for the KLCI after failing to break the resistance of 1,765,” it said.
http://www.thestar.com.my
