Trading ideas: KPS, Perisai, GSB Group


  • Business
  • Monday, 21 May 2018

KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd, Perisai Petroleum Teknologi Bhd and GSB Group Bhd are among the stocks to watch on Monday, according to JF Apex Research.


Kumpulan Perangsang Selangor’s 51%-owned unit Aqua-Flo Sdn Bhd has received a letter of extension to supply chemicals to water treatment plants operating under the Air Selangor Group, for a further period of five and a half months.


The group said estimated sums for the projects during the extended period will amount to RM25.08mil.


Perisai plans to undertake a share capital reduction and a rights issue to raise up to RM22.34mil to regularise its Practice Note 17 (PN17) status.


Javawana Sdn Bhd, a major shareholder of GSB, has made a conditional mandatory general offer of 13 sen a share for the remaining 313.10 million shares in the company which it does not own.


Meanwhile, US markets ended mixed on Friday following concerns on US-China trade negotiations.


The Dow Jones industrial average bucked the negative trend, closing just above the flatline at 24,715.09.


Earlier, European stocks tumbled following losses in telecommunication counters as ratings of Altice and Telecom Italia were downgraded.


“Following the mixed performance in the US and Europe, the FBM KLCI is expected to remain sideways below the resistance of 1880 points as investors calm down after volatile trading post-election,” JF Apex said.


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Across The Star Online