Trading ideas: AZRB, Protasco, Tenaga, Thriven

New high for Dagang NeXchange Bhd

KUALA LUMPUR: JF Apex Research expects AHMAD ZAKI RESOURCES BHD (AZRB), Protasco, Tenaga Nasional and Thriven Global to be among the stocks to watch on Wednesday.

It said AZRB has secured a two-year service contract to provide the crew and support services at the Tok Bali supply base in Kelantan.

As for Protasco, it bagged a RM49.9mil contract to maintain minor roads in Terengganu.

Power giant Tenaga inked a 21-year power purchase agreement (PPA) with Edra Energy Sdn Bhd to offtake electricity from a gas-fired combined cycle power plant which the latter will build in Alor Gajah, Melaka.

Meanwhile, Thriven Global’s subsidiary is planning to sell a plot of freehold land here to a real estate firm for RM27.5mil, which will result in a loss of some RM11.4mil for the company.

Vsolar has teamed up with Universiti Teknologi Malaysia (UTM) to build a solar power generation plant, with a capacity of up to 30 megawatts (MW) at the university.

As for mTouche Technology, it was invited by G.I.S. Park (Thailand) Co. Ltd to be a solution and technology partner to jointly develop and operate the SMART4 public phone and wi-fi hub terminal for Thai state-owned telecommunications company TOT PCL.

PUC Founder has proposed to acquire Singapore-based IT firm Enovax Pte Ltd for S$2mil (RM6.3mil).

Overnight on Wall Street, US markets closed lower following heightened geopolitical risks in the Korean peninsula and the Middle East. Earlier, European stocks ended mixed on similar geopolitical concerns. 
 At Bursa, the FBM KLCI lost 3.68 points to end Tuesday at 1,735.84. 

“Following the lacklustre performance in the US and Europe, the KLCI is expected to remain pressured and trend sideways with support level at 1,730,” said JF Apex Research.

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