Trading ideas: PPB Group, Mudajaya, Scomi, Sumatec, HSL, Nexgram

New high for Dagang NeXchange Bhd

KUALA  LUMPUR: JF Apex Research expects PPB Group, Mudajaya, Scomi Engineering, Sumatec and Nexgram to be among the stocks which could see trading interest on Monday.

PPB Group has dispelled speculation that it was going to sell off its Golden Screen Cinemas Sdn Bhd (GSC), stressing that it has plans to expand the cinema business instead.

Mudajaya’s unit Mudajaya Corp Bhd has received a notification letter from the joint-venture company, RKM Powergen Pvt Ltd to supply power to Uttar Pradesh Power Corp Ltd.

Scomi Engineering and Prasarana Malaysia Bhd have mutually agreed to drop their lawsuits against each other over a contractual disagreement, and signed a new agreement that will allow the group to complete the construction of a new depot for the Kuala Lumpur Monorail fleet expansion.

JF Apex Research said Sumatec’s associate Semua Shipping Sdn Bhd has received a legal notice from Malayan Banking for allegedly defaulting on loans totalling RM121.4mil.

HSL has received a letter of acceptance from the Sewerage Services Department Sarawak for phase one of a wastewater treatment plant and sewer networks project in Miri for RM333.07mil.

Nexgram has received an offer from Oriental Mace Sdn Bhd to undertake projects worth US$77mil (RM338.8mil) in total. 

Last Friday, US markets ended higher on Friday after Federal Reserve Chair Janet Yellen's speech. Similarly, European stocks advanced on possibility of US interest rate hike this month.
At Bursa Malaysia, the FBM KLCI closed down 7.29 points to 1,708.38. 

“Following the bullish performance in the US and Europe, the KLCI could follow suit and climb towards its resistance of 1,730,” it said.
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