Trading ideas: AmBank, RHB Bank, Perisai, Techfast


KUALA LUMPUR: JF Apex Research expects AmBank, RHB Bank, Perisai Petroleum and Techfast as among the stocks to watch on Wednesday after the fresh corporate news.

AmBank and RHB Bank ended their merger talks after failing to reach an agreement.

As for Perisai, it said three clients are claiming RM13.68mil in losses and damages from its unit, Perisai Drilling Sdn Bhd for an alleged breach of contractual obligation.

Techfast proposed a one-for-three bonus issue of up to 57.04 million new shares.

The research house said Ewein’s subsidiary Ewein Zenith II Sdn Bhd has scrapped its plan to buy a piece of freehold land that the Penang government had given to Consortium Zenith Construction Sdn Bhd (CZ) as payment for CZ’s work on the Penang undersea tunnel project and three related roads.

JF Apex Research pointed out Kerjaya Prospek, Boon Koon, RCE Capital, Inari, UMW O&G, Maybulk, UEM Edgenta achieved better on-year quarterly results, whilst Dutch Lady, Hock Seng Lee, DNex, Deleum, Salutica recorded weaker on-year financial results.

Overnight, US markets rallied on renewed hopes of a tax reform by President Donald Trump. Earlier, European stocks staged a rebound led by basic resources counters following higher metal prices.
 
On the local market, the FBM KLCI gained 2.60 points to end at 1,774.22. 

“Following the bullish performance in the US and Europe, the FBM KLCI could climb further towards its resistance of 1,800,” JF Apex Research said.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

BCorp to divest entire 71.73% stake in Berjaya Higher Education Premium
Tenure limit of independent directors set at 12 years Premium
Nestcon secures RM188.5mil construction contract Premium
Texchem to buy 28% stake in Sushi King for RM102.2mil Premium
Proton to introduce smart automobile's new energy vehicles in Asean Premium
UEM Sunrise unveils KAIA Heights sales gallery Premium
KLCI down 0.8%, but energy stocks up on rising crude prices Premium
Brent charges towards US$90 per barrel as Middle East unrest stokes supply disruption Premium
PCG to build a 60,000 tonne melamine plant in Kedah Premium
China drafts rules to ease property developers' use of escrow funds Premium

Others Also Read


Vouchers