Trading ideas: Handal Resources, Sunway, Fraser and Neave, Spring Gallery - Business News | The Star Online


Trading ideas: Handal Resources, Sunway, Fraser and Neave, Spring Gallery

KUALA LUMPUR: JF Apex Research expects Handal Resources, Sunway, Fraser and Neave, Spring Gallery and Versatile Creative to see some trading action on Friday after their corporate announcements.

It said  Handal Resources is servicing ExxonMobil Exploration and Production Malaysia Inc's (EMEPMI) offshore cranes under a three-year contract.

Sunway Bhd is disposing of its Sunway Clio property to Sunway REIT as it wants to eliminate any conflict of interest with regards to the property. Sunway said its unit Sunway Forum Hotel Sdn Bhd, will receive RM340mil for the property which comprises the Sunway Clio Hotel, a three-storey retail space and a multi-storey carpark.

F&N’s 3QFY17 net profit fell 25.8% on-year, due to weak consumer sentiment and higher input costs in Malaysia. 

Spring Gallery is planning to acquire developer Klasik Ikhtiar Sdn Bhd for RM3.5mil cash to tap into a Perumahan Penjawat Awam 1 Malaysia (PPA1M) project in Sentul with a gross development value of RM144.5mil. 

Versatile Creative is partnering Iris World Marketing Sdn Bhd to explore the possibility of developing concept stores throughout Malaysia for a mobile payment platform.

US markets ended mixed overnight with the Dow extending its record high amid investigation into Russia's involvement in the US election. Earlier, European stocks advanced as the Bank of England kept interest rate unchanged.
At  Bursa, the FBM KLCI added 1.29 points to close at 1,771.90. 

“Following the mixed performance in the US and Europe, the KLCI is expected to remain sideways below the resistance of 1,780,” it said.

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