Trading ideas: Perdana Petroleum, Atrium REIT, Econpile, Sime Darby

KUALA LUMPUR: JF Apex Research expects Perdana Petroleum, Atrium REIT, Econpile and Sime Darby to be among the stocks which could see trading action on Wednesday after their corporate announcements.

It said Perdana Petroleum won a RM67mil charter contract from Petronas while Atrium REIT proposed to buy 1.3ha of industrial land in Shah Alam for RM23mil.

Econpile clinched a RM280mil job to undertake piling and basement works for Maju Kuala Lumpur, a mixed development project in Sungai Besi.

As for Sime Darby, the group's plan to acquire a majority stake in Saizen REIT through a reverse takeover (RTO) appears to have fallen through.

Aeon Credit's 2QFY17 net profit rose 13.8% on-year to RM55.19mil as revenue improved, and it will pay a 30.5 sen dividend to shareholders.

JF Apex Research said Ranhill has obtained approval from the Energy Commission (EC) for the proposed development of a 300MW combined cycle gas turbine power plant by a consortium of private companies.

BTM Resources   aborted its plan to venture into the food and beverages chain business following the termination of the MoU with fast food chain operator Chicken Cottage (M) Sdn Bhd.

Overnight on Wall Street, US markets closed lower  while the US dollar rose to a two-month high. In contrast, European equities advanced as investors digested the possibility of commencement of Brexit and potential US rate hike in December.
 
At Bursa Malaysia, the FBM KLCI closed up 8.70 points to 1,661.25. Following the mixed performance in the US, the KLCI could hover and consolidate above the support of 1,650.