Trading ideas: MRCB, Pensonic, Hibiscus, Perak Transit

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB), Pensonic Holdings Bhd, Hibiscus Petroleum Bhd and Perak Transit Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

MRCB sells 70% of property project in Setapak to Lembaga Tabung Haji for RM100.1mil cash.

The group said the cash proceeds from the divestment would be utilised for working capital purposes and property development activities within 12 months from receiving the disposal consideration.

Pensonic is buying two parcels of freehold landing Klang land for for new warehouse for RM20.07mil cash.

Hibiscus moving closer to complete North Sabah Enhanced Oil Recovery production sharing contract.

Perak Transit, which operates Terminal AmanJaya in Ipoh, Perak, has received approval in principle for an RM8.014mil grant from the Government to facilitate the construction of a new public transport terminal in the state, Terminal Kampar.

Meanwhile, US markets dropped slightly overnight amid low trading volume as decline in Apple shares was offsetting by gains in energy counters following higher oil prices.

European markets were closed yesterday.

“Following the holiday season, the FBM KLCI is expected to remain flat and hover above 1,750 points,” JF Apex said.

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