Trading ideas: UEM Edgenta, Mah Sing, PUC Founder, LPI Capital

  • Business
  • Tuesday, 29 Dec 2015

KUALA LUMPUR: JF Apex Research expects UEM Edgenta, Mah Sing, PUC Founder and LPI Capital to be among the stocks to watch on Tuesday.

It said UEM Edgenta clinched a five-year RM109.07mil contract for the maintenance of certain state roads in Selangor.

As for Mah Sing, the group will receive RM35.96 million by Dec 31, 2015, which is the refund of the entire deposit for the cancelled purchase of land in Seremban.

PUC Founder has inked a cross-border internet payment service collaboration with Lakala Payment Co Ltd. Lakala is one of China's leading internet financial services group, and is authorised to obtain the payment licence for all categories issued by the country’s central bank.

LPI Capital plans to distribute the gains from the sale of its 0.06% stake in PUBLIC BANK BHD amounting to RM37.1mil, to its shareholders in the first quarter of 2016.

On Wall Street, US stocks closed lower in a thin trade yesterday as energy stocks weigh on the market as a result of renewed concern on slide in oil prices. Similarly, the European markets ended lower as oil price fell.

At Bursa Malaysia, the FBM KLCI gained 7.22 points to 1,670.73. The local benchmark index is expected to face some selling pressure in line with weak performance posted by overseas bourses with our resistance levels of 1,670 and 1,690.  
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