Trading ideas Perak Transit Mega First Berjaya Corp Tien Wah



KUALA LUMPUR: JF Apex Research expects Perak Transit Bhd , Mega First Corporation Bhd, Berjaya Corporation Bhd and Tien Wah Press Holdings Bhd to be among the stocks to watch on Thursday.

Perak Transit, which operates the Terminal AmanJaya integrated public transportation terminal and provides public bus services, will be listed on Bursa Malaysia Securities at an offer price of 18 sen each.

Mega First's Idaman Harmoni Sdn Bhd has been slapped with notices of assessment for additional taxes and penalties totalling RM22.8mil by the Inland Revenue Board.

Berjaya Corp is disposing of a 39.09% stake and C$52.91mil (RM166.5mil) worth of unsecured subordinated notes in Toronto-listed Taiga Building Products Ltd — Canada's largest independent wholesale distributor of building products — to Singapore-listed UPP Holdings Ltd, which is controlled by businessman Datuk Tong Kooi Ong, for a combined C$65.58mil (RM206.37mil) cash.

Tien Wah Press plans to buy British American Tobacco Indonesia's printing business, PT Bintang Pesona Jagat, for RM97mil. The acquisition includes a six-year manufacturing and supply of packaging materials agreement.

Ho Hup was awarded a RM32.4mil subcontract to build the immigration quarters in Pengkalan Hulu, Perak.

BLD Plantation aborted its plan to acquire Pekan Semangat Sdn Bhd from multiple vendors for RM155.22mil cash which would have seen it receive 5,442 hectares of plantation lands.

On the external front, US markets climbed overnight led by financial and energy counters as investors digest economic data such as trade deficit, mortgage applications and factory orders, as well as rising oil prices. 

Earlier, European stocks declined on news of the European Central Bank ending its quantitative easing ahead of plan.
 
At Bursa Malaysia, the FBM KLCI closed up 1.67 points to 1,662.92. 

“Following the positive performance in the US and higher oil prices, the FBM KLCI could gain and climb towards the resistance of 1,675,” said JF Apex Research.

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