Trading ideas: Sunsuria, Aeon Credit, Ecofirst

KUALA LUMPUR: JF Apex Research expects Sunsuria, Aeon Credit and Ecofirst to see trading interest on Tuesday after the fresh corporate news.

Sunsuria has proposed to buy the remaining 50% stake it does not own in Sime Darby Sunsuria Development Sdn Bhd (SDSD), a joint-venture with Sime Darby (Sungai Kapar) Sdn Bhd, for RM173.4mil cash.

SDSD is a development company incorporated to undertake the Suria Serenia development on a 331.27 acres land located at Putrajaya South, which surrounds the upcoming Xiamen University Malaysia Campus.

Aeon Credit’s 4QFY15 net profit jumped 15.8% on-year to RM55.4mil, boosted by improvements to growth in transaction, financing volume and auto financing operations.

Ecofirst, the group has signed an option agreement with IGB Corp Bhd to buy a 25-acre freehold parcel in Gombak, Selangor, for RM62.8mil.

Overnight on Wall Street, US markets rose sharply after unexpected stimulus from China. Similarly, European stocks surged after China's central bank lowered the reserve requirement ratio by 100 basis points.

“Back home, the FBM KLCI added 2.80 points to close at 1,848.66 following a last minute surge. Following the bullish performance in the US and Europe, the KLCI could follow suit and climb toward its resistance of 1,860,” it said.