Trading ideas: Bintai Kinden, Mitrajaya, Triven Property, Hubline

KUALA LUMPUR: Bintai Kinden , Mitrajaya, Triven Property, Hubline, Mah Sing and Bina Darulaman are among the stocks which could see trading interest on Friday after their corporate news and reports, says JF Apex Research.

Bintai Kinden is partnering with Vista Springs Development Sdn Bhd to jointly develop a 4.47-acre piece of freehold land in Melaka, which has an estimated gross development value of RM350mil.

Mitrajaya has secured a RM132.5mil contract to undertake main building works for 363 condominiums in Precinct 15, Putrajaya.

Triven Property is in talks to be the turnkey contractor to build affordable housing projects for Syarikat Perumahan Negara Bhd (SPNB), worth RM1.1bil in GDV.

As for Hubline, JF Apex Research said it is in the midst of negotiating a preliminary agreement with "a large oil and gas/chemical company" to provide logistics services. However,  the terms of the MoU have not been finalised.

Grand-Flo is selling its 12.31% stake in Thailand-based Simat Technologies Public Company Ltd for 132.03mil baht (about RM16.72mil), and another 80% stake in Kopacklabels (Pg) Sdn Bhd (KPSB) for RM700,000.

Mah Sing has terminated a proposed deal to buy 3.56 acres of freehold land fronting Titiwangsa Lake here for RM60mil, citing non-fulfilment of the conditions.

JF Apex Research said Bina Darulaman's road and quarry division was the main cause of the 67% fall in its 3QFY17 net profit.

Overnight on Wall Street, US markets ended mixed with the Dow and S&P closing slightly higher during the ongoing corporate results season. 

Earlier, European stocks declined amid the political crisis in Spain and mixed earnings season.
At Bursa, the FBM KLCI dropped five points to end at 1,743.99. 

“Following the recent bearish performance, the KLCI has tested the 200-day moving average and could trend lower towards the support of 1,730,” it said.

Analyst Reports , Markets