Trading ideas: IRCB, Uzma, Asdion, Ewein


  • Markets
  • Monday, 13 Jul 2015

KUALA LUMPUR: JF Apex Research expects Integrated Rubber Corp  Bhd (IRCB), Uzma, Asdion and Ewein to be among the companies which could see trading interest on Monday after their recent corporate actions.

IRCB officially exits the Practice Note 17 status on Monday after Bursa Securities approved its early upliftment.

Oil and gas services provider Uzma bagged a contract for the leasing, operation and maintenance of a water injection facility for Petronas Carigali with an estimated value of RM350mil to RM400mil.

Asdion plans to supply of bauxite and expects this new business to contribute 25% or more to its net profit. The group had signed a sourcing and take-off agreement to the supply of bauxite to Hong Kong International Mining Exchange Ltd.

Ewein has obtained the advertising permit and developer licence for its RM800mil gross development value (GDV) City of Dreams project in Bandar Tanjong Pinang  on Penang island.

Last Friday, US markets closed higher on hopes of a resolution in Greece's debt problems and improved sentiment in Chinese equities. Similarly, European stocks also rose on Friday as Greece submitted its reform proposals and Chinese markets rebounded. 

 At Bursa Malaysia, the FBM KLCI rose 14.04 points to end Friday at 1,715.58. Following the recovery last week, the KLCI still fallw short of breaking the downtrend line.

“Markets will react to creditors' decision on Greece's debt proposals for this week. We expect Greece uncertainty to continue to weigh on market sentiment today.

 “Following the weekend’s negotiations, Greek debt proposals still fall short of creditors’ expectations. An option enabling Greece to leave the euro zone temporarily if a bailout is not agreed is among a raft of measures being considered by euro zone leaders,”  it said.

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