Trading ideas: Vivocom, Sapura Energy, Serba Dinamik, MCT

KUALA LUMPUR: JF Apex Research expects Vivocom International Holdings Bhd , Sapura Energy Bhd , Serba Dinamik Bhd and Kuantan Flour Mills Bhd to attract trading interest on Tuesday.

The research house also expects MCT Bhd and Anzo Holdings Bhd to generate trading interest following their latest corporate news.

Vivocom International has secured a RM27.57mil contract from China Construction Third Engineering Group (M) Sdn Bhd for aluminium and glazing works in Melaka.

Sapura Energy has secured several contracts with a combined value of about RM905mil via its subsidiaries.

Serba Dinamik is acquiring a 40% stake in Maju Renewable Energy Sdn Bhd, Maju RE (Talang) Sdn Bhd and Maju RE (Temenggor) Sdn Bhd from Maju Holdings Sdn Bhd for a combined RM24.85mil.

Kuantan Flour Mills's external auditors McMillan Woods Thomas has issued a qualified opinion on the company's FY17 audited financial statements, amid uncertainty over its proposed regularisation plan.

MCT shareholders have been told to reject the takeover bid launched by Philippines-based property developer Ayala Land Inc's unit Regent Wise Investments Ltd, which has been deemed "not fair and not reasonable" by independent adviser.

Anzo, which has been anticipating securing a potential RM1.21bil contract to build the Paragon@KLNorthgate shopping centre in Selayang with a partner, is not going to see the project take off anytime soon.

The developer, KL Northgate Sdn Bhd is now reviewing the whole development concept and development components of the project, in view of the property glut.

Meanwhile, U.S. stocks fell sharply Monday, extending a steep sell-off from the previous session, as investors rushed for the exits in the wake of rising interest rates.

The Dow Jones industrial average shed 1,175.21 points, or 4.6% to 24,345.75 and briefly declined more than 1,500 points.

Similarly, European stocks plummeted due to bearish sentiment that inflation would kick in soon.

“Following the market turmoil in the US and Europe, the FBM KLCI is expected to retest its support of 1,840 points,” JF Apex said.

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