Trading ideas: Xin Hwa, Symphony Life, M-Mode, Mitrajaya

KUALA LUMPUR: Xin Hwa, Symphony Life, M-Mode and Mitrajaya are among the stocks which could see trading interest on Monday after their corporate news and announcements, according to JF Apex Research.

Xin Hwa has bagged RM13.7mil worth of contracts to transport precast segmental box girders and crossbeam for the construction of viaduct guideways and other associated works of the MRT Line 2.

As for Symphony Life, it is compelled to re-acquire a property investment company it sold to Octane Capital Sdn Bhd after failing to complete a land transfer condition in its original sale agreement.

JF Apex Research pointed out M-Mode has proposed to venture into construction business to look for additional income.

Mitrajaya is planning a rights issue, sweetened with free warrants and bonus shares, to raise as much as RM107milwhich will be used mainly for the repayment of bank borrowings.

Last Friday, US markets advanced to record highs on Friday as investors expect strong performance in the earnings season. Similarly, European stocks climbed following higher commodities prices.
At Bursa, the FBM KLCI added 1.32 points to close at 1,755.32. 

“Following a lacklustre performance last week, the KLCI could continue to hover above the support of 1,750,” it said.

Analyst Reports , Markets