Trading ideas: LPI Capital, Ewein, Tan Chong Motor, MyEG

KUALA LUMPUR: LPI Capital Bhd , Ewein Bhd , My EG Services Bhd (MyEG), Tan Chong Motor Holdings Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

The research house also expect Accsoft Technology and Tiger Synergy Bhd to attract trading interest today following their latest corporate news.

LPI Capital has proposed to undertake a bonus issue on the basis of one bonus share for every five existing shares.

Ewein has confirmed that its group managing director Datuk Ewe Swee Kheng has been remanded by the Malaysian Anti-Corruption Commission (MACC) to facilitate and assist in the graft probe in relation to the undersea tunnel project in Penang.

Tan Chong Motor has secured the rights to be the exclusive distributor, assembler and after-sales service provider of King Long products in Vietnam.

MyEG has been granted approval by Bank Negara Malaysia to issue electronic money via its iPayEasy e-wallet.

Accsoft Technology has proposed to undertake a share split involving the subdivision of every 10 existing shares in the company into 25 shares.

Tiger Synergy is planning a four-into-one (4-into-1) share consolidation, and an issuance of redeemable convertible notes to raise up to RM150mil to fund its current property development projects.

Overnight, the US markets declined overnight and retreated from record highs following concerns that China will stop buying US Treasury bonds and US will quit NAFTA.

European stocks also tumbled after being dragged by telecommunication counters following concerns on corporate earnings.

“Following the pullback in the US and Europe, the FBM KLCI is expected to extend its downward correction towards the support of 1,800 points,” JF Apex said.

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