Trading ideas: UEM Sunrise, IOI Properties, Edaran, Sasbadi, Salutica

  • Business
  • Tuesday, 14 Mar 2017

KUALA LUMPUR: UEM Sunrise, IOI Properties, Edaran, Sasbadi and Salutica are among the companies which could see some trading interest on Tuesday after the corporate announcements, says JF Apex Research.

It said among stocks to watch are UEM Sunrise after  its unit UEM Sunrise (Canada) Alderbridge Ltd (UEMS Alderbridge) announced it was selling three parcels of land in Richmond, British Columbia, Canada, to 1107782 B.C Ltd, a unit of South Street Development Group for RM372.57mil.

IOI Properties plans to start work on its office building at its newly acquired site in Central Boulevard, Singapore by the end of the year. The estimated gross development value is at least S$3.5bil (RM11bil).

Edaran bagged a RM20.6mil data facility development contract from the Inland Revenue Board of Malaysia.

JF Apex Research said as for Sasbadi, it has inked two publishing deals the Malaysian Examination Council. 

Under the publishing agreements, the council will grant an exclusive licence to Sasbadi to prepare, print, and sell the collections of past year question papers for Sijil Tinggi Persekolahan Malaysia (STPM) examination and Malaysian University English Test (MUET) as well as the reports on STPM examination and MUET for the examination years of 2017, 2018 and 2019.

Meanwhile, Salutica has obtained the green light from the Securities Commission Malaysia to transfer the listing of its shares to the Main Market.

Overnight on Wall Street, US stocks closed off session lows Monday as traders anticipated an interest rate hike on Wednesday. 

European markets closed higher on Monday as political uncertainty dominated and traders geared up for a likely rate hike by the US Federal Reserve. 
At Bursa Malaysia, the FBM KLCI gained 4.34 points to close at 1,721.92 on Monday. 

“We expect the local benchmark index to continue to consolidate below 1,730 on the back of potential rate hike in the US, slumbering crude oil prices and upcoming Dutch election,” said JF Apex Research.

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