Trading ideas: MPay, Seacera, Sumatec, GHL Systems

KUALA LUMPUR: Managepay Systems Bhd (MPay), Seacera Group Bhd, Sumatec Resources Bhd and GHL Systems Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

MPay will launch its money lending business in April this year, after receiving approval from the moneylenders and pawnbrokers division of the Ministry of Urban Wellbeing, Housing And Local Government.

Seacera has bagged an RM202.8mil contract from Fire Global Development Sdn Bhd to build a residential development with expected gross development value of RM242mil, in Kampung Air Sejuk, Setiu, Terengganu.

Sumatec's business partner CaspiOilGas LLP has signed a presale gas agreement with Kazakhstan-based NIPIneftegas Consortium (NIPI). The deal includes the sale of 6.2 billion cubic metres of gas to NIPI over 15 years at market price.

GHL Systems will commence offering Alipay payment acceptance services to Philippine in-store and online merchants this month. GHL said the roll out will start with physical merchants this month and eventually extend to e-commerce merchants.

Meanwhile, US markets rallied to record highs as the Senate reaches an agreement to end the government shutdown.

The Dow Jones Industrial Average gained 0.6% while the S&P 500 and Nasdaq Composite jumped 0.8% and 1.0% respectively.

Earlier, European stocks advanced overnight following quarterly results and corporate announcements.

“Following last week's lacklustre performance, the FBM KLCI could extend its sideways movement below the resistance of 1,840 points,” JF Apex said.

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