Trading ideas: CMS, Bumi Armada, Pestech, Tenaga Nasional, Hunza Properties

  • Business
  • Wednesday, 15 Apr 2015

KUALA LUMPUR: JF Apex Research expects Cahya Mata Sarawak (CMS), Bumi Armada, Pestech, Tenaga Nasional and Hunza Properties to be among the stocks which could see trading action on Wednesday.

CMS bagged a RM308mil contract from the Sarawak state government to build a world class museum and a heritage trail in Kuching.

The research house pointed out as for Bumi Armada, the group secured a US$300mil (RM1.1bil) contract from ElectroGas Malta Ltd to supply a liquefied natural gas (LNG) floating storage unit (FSU) in Malta.

Pestech will set up the power supply infrastructure for Benalec’s Tanjung Piai Integrated Petroleum and Maritime Industrial Park (Tanjung Piai industrial park) in Pontian, Johor.

JF Apex Research said Tenaga Nasional’s new coal-fired power plant Manjung 4 started commercial operations from midnight on Tuesday April 13 and will transmit an additional 1,000 megawatt to the national grid;

Hunza Properties said a suit brought against it by Loke Wan Yat Realty Sdn Bhd would not have any material operational, financial or loss impact on it.

 Overnight on Wall Street, US markets were mixed with the Dow climbing higher following a slew of earnings announcements and higher oil price. In Europe, stocks were mostly lower as investors remain cautious of today's European Central Bank meeting on rate decision.

At Bursa Malaysia, the FBM KLCI lost 2.47 points to 1,839.61.

“Asian equities could open mixed due to caution on China's first quarter GDP announcement this morning. We expect the KLCI to remain lacklustre with support at 1,830,” it said.

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