Trading ideas: Tasco, Muhibbah Engineering, Versatile Creative

  • Business
  • Wednesday, 11 Jan 2017

KUALA LUMPUR: Investors could find interests in Tasco Bhd, MUHIBBAH ENGINEERING (M) BHD and VERSATILE CREATIVE BHD following their corporate news and announcements, according to JF Apex Research.

The research house said Tasco entered into cold chain logistics and has inked a sale and purchase agreement with Chang Kok Fai and Chan Sun Cheong to acquire Gold Cold Transport Sdn Bhd for up to RM188mil.

Muhibbah Engineering secured a contract worth approximately Qatari Riyal 356.7 million (RM438.1mil) from Economic Zones Company of Qatar (MANATEQ) for the construction of roads and infrastructure works at Um Alhoul Economic Zone (QEZ-3) Phase 2.1 (Portion 2A, Marine Cluster), Qatar.

Versatile Creative has entered into a deal with Double Action Ventures Sdn Bhd to look into developing medium-cost apartments on a 3.2-acre piece of alienated land in Johor Bahru with gross development value of RM110mil.

Overnight, the US markets were mixed again as the Nasdaq extended its record high lifted by healthcare counters while investors wait for president-elect Donald Trump’s key news conference. Similarly, European stocks were mixed with the FTSE100 jumping to all-time high following higher producer data from China.

“Following the mixed performance in the US and Europe, the FBM KLCI could extend its sideways trend below the resistance of 1,680 points,” JF Apex said.
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