Trading ideas: Prestariang, mTouche, Bina Darulaman, Glomac, CCM

KUALA LUMPUR: Prestariang, mTouche Technology, Bina Darulaman, Glomac, Chemical Company of Malaysia, CCM Duopharma Biotech and Yong Tai are among the stocks to watch on Thursday.

Prestariang secured a RM10mil contract extension from the Higher Education Ministry to distribute and manage Microsoft software licences for public education institutions.

As for mTouche, it is collaborating with Thai software, platform and artificial intelligence (AI) technology development company Octa Gravity Co Ltd to enhance its digital media offering in Southeast Asia.

 Bina Darulaman's 2QFY17 net profit plunged 83.4% on-year, on lower profit contribution from its property development and construction businesses.

Glomac has proposed a one-for10-bonus issue to reward existing shareholders and improve liquidity and marketability of its shares.

It said Censof won a RM5.98mil contract from the Inland Revenue Board of Malaysia for software application development.

Chemical Company of Malaysia is planning to redistribute a 73.37% stake in CCM Duopharma Biotech Bhd to its shareholders.

As for Yong Tai’s plan to acquire two parcels of freehold and contiguous land in Puchong, Selangor, for a potential property development project has fallen through.

Yong Tai is raising RM54.18mil from it’s Hong Kong based major shareholder through a private placement exercise. 

Proceeds from the exercise would be used to part finance the purchase of 1.08 acres of land in Bukit Bintang, Kuala Lumpur, the company said.

Overnight on Wall Street, US markets ended mixed overnight with the Dow extending its record high after Apple's quarterly earnings beat expectations. 

Earlier, European stocks declined after being dragged by basic resources and banking counters amid reporting season.
At Bursa Malaysia, the FBM KLCI gained 6.19 points to close at 1,771.32  supported by foreign buying.

“After testing the resistance of 1,770 yesterday, the KLCI could extend its rebound towards the psychological level of 1,800,” said JF Apex Research.
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