Trading ideas: KPS, Selangor Dredging, UMW, TA Enterprise


  • Business
  • Tuesday, 03 Jul 2018

KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd (KPS), SELANGOR DREDGING BHD (SDB), UMW HOLDINGS BHD and TA Enterprise Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.


KPS has secured a contract worth RM20mil from Pengurusan Air Selangor Sdn Bhd, via a 60%-owned subsidiary, to replace existing pipeworks in Hulu Langat and Kuala Lumpur.


Selangor Dredging announced that its associate company Tiara Land Pte Ltd plans to buy 17 parcels of adjacent properties in the prime District 13 in Singapore for S$60.26mil (RM180.06 million), where the latter intends to develop exclusive mid-rise apartments.


UMW has agreed to form a joint venture (JV) with Japan's Komatsu Ltd under its heavy equipment business.


Under the proposed JV, UMW and Komatsu expect to further strengthen and expand market penetration of Komatsu's products in Malaysia, Brunei, Singapore, Myanmar and Papua New Guinea.


Datuk Tony Tiah Thee Kian has launched a mandatory takeover offer (MGO) for TA Enterprise at 66 sen per share after acquiring 14.33 million shares or a 0.84% stake in the stockbroking firm for prices between 61 sen and 66 sen from the open market.


Meanwhile, US markets ended higher overnight amid gains in technology counters and lingering concerns on trade war.


The Dow Jones Industrial Average closed 35.77 points to 24307.18 while the S&P 500 advanced 0.3% to 2,726.71.


Earlier, European stocks declined as the EU threatened to impose tariffs worth US$300bil if the US proceeds with penalties on European cars.


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