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Trading ideas: IHH Healthcare, Kelington, NWP, Salcon


KUALA LUMPUR: JF Apex Research expects IHH Healthcare Bhd , Kelington Group Bhd , NWP Holdings Bhd and Salcon Bhd to generate trading interest following their latest corporate news.


IHH Healthcare said that the board of directors of India's Fortis Healthcare Ltd has indicated its inability to engage with IHH regarding its takeover offer.


Kelington has secured new orders worth RM77.5mil in 1Q18, bringing the group’s total outstanding orderbook to RM267.3mil.


Timber products manufacturer NWP has terminated an agreement to buy a 30% stake in US-incorporated Aviation AI Inc (AAI).


Salcon is proposing a one-for-four bonus issue of up to 169.42 million new shares to reward its shareholders and boost liquidity of the shares.


It is also proposing to issue up to 338.85 million free warrants on the basis of one warrant for every two shares held.


Meanwhile, US markets advanced overnight due to easing concerns over the conflict in Syria and better-than-expected quarterly earnings.


The Dow Jones industrial average gained 212.90 points to close at 24,573.04 while the S&P 500 climbed 0.8% to 2,677.84.


Earlier, European stocks declined following political concerns on Syria.


“Following the positive performance in Wall Street, the FBM KLCI could retest its resistance of 1,880 points,” JF Apex said.


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