Trading ideas: Yinson, PetChem, Sunsuria and Willowglen

  • Business
  • Thursday, 27 Apr 2017

KUALA LUMPUR: JF Apex Research expects YINSON, Petronas Chemicals, Sunsuria and Willowglen to be among the stocks to watch on Thursday after their corporate announcements.

Yinson has bagged a floating production, storage and offloading (FPSO) charter contract worth US$1bil (RM4.4bil) in Vietnam.

As for Petronas Chemicals, it has allocated RM4bil for capital expenditure it the financial year ending Dec 31, 2017. Most of the expenditure is for its projects at the Pengerang Integrated Complex (PIC) in Johor.

Sunsuria is venturing into infrastructure and development projects in the government and private sector after taking a controlling stake in a firm that holds a Construction Industry Development Board (CIDB) licence.

Willowglen’s 1QFY17 net profit surged 91.35% on-year, thanks to higher turnover from its Singapore operations.

ASTRO is partnering South Korea's content and media group CJ E&M to co-produce intellectual properties (IPs), as well as to market and distribute Korean content in Asean

PUC Founder has acquired Singapore-based IT business solutions provider Enovax Pte Ltd for S$2mil (RM6.29mil).

Texchem Resources is set to expand its Sushi King operations to Indonesia after receiving green light from authorities there.

Overnight, US markets ended slightly lower after surrendering intra-day gains after White House announced a plan for tax reform. 

Earlier, European stocks continued to advance as corporate earnings beat market expectations. 

At Bursa Malaysia, the FBM KLCI added 3.12 points to close at 1,768.92. 

“With the lingering positive news flow in overseas markets, the FBM KLCI could test its resistance of 1,770,” it said. 

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