Trading ideas: Sime Darby, Kelington, YNH

Moody's outlook on the Korean banking system has been negative since May 2016.

KUALA LUMPUR: JF Apex Research expects Sime Darby, Kelington, YNH, IHH Healthcare and Borneo Oil to be among the stocks to watch on Friday.

Trading at Bursa Malaysia will close at midday ahead of the Chinese New Year holidays and resume trading next Tuesday.

Sime Darby is planning to create three pure play standalone businesses, namely for plantation, property and trading & logistics sectors, with the conglomerate eyeing listings for its Sime Darby Plantation Bhd and Sime Darby Property Bhd. 

The heavyweight would be evaluating the implementation measures and indicative timelines, adding that the company will make the appropriate disclosures upon receiving the final approval of the board.

Kelington has secured a new contract worth RM40mil to provide turnkey construction and engineering services for one of the world’s major suppliers of specialty emulsion polymers;

YNH sold its freehold land in Perak on which Pantai Hospital Manjung sits to IHH Healthcare Bhd for RM63mil.

Borneo Oil has entered into sublease and marble quarry operation agreements to acquire seven parcels of quarry land in Lahad Datu, Sabah.

Overnight on Wall Street, US equities closed mixed after hitting new record highs, as investors digested several corporate earnings reports. 
European stocks extended the bullish sentiment, tracking the all-time high of Dow Jones industrial average.

On the local market, the FBM KLCI rose 8.29 points or 0.49% to 1,692.22. 

“Following the recent surge, we expect the FBM KLCI to take a breather and hover below the resistance level of 1,700 with some profit taking ahead of the CNY holidays,” it said.