Trading ideas: Perdana Petroleum, TA Global, Barakah

KUALA LUMPUR: Perdana Petroleum Bhd, TA Global Bhd and Barakah Offshore Petroleum Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Perdana Petroleum said it received approval from BNM's corporate debt restructuring committee to help renegotiate with its specific financiers, financing facilities on terms that can be sustained in the face of this challenging period for the oil and gas industry.

TA Global stands to receive a mandatory general offer (MGO) from Datuk Tony Tiah Thee Kian if his interest in TA Enterprise Bhd crosses the 50% mark.

This is because of TA Enterprise's 60.17% stake in property developer TA Global, in which Tiah and persons acting in concert control another 15.34%.

Barakah announced that it has received a one-year contract extension from Petronas Gas Bhd to carry out repair and maintenance works on the Sabah Sarawak Gas Pipeline.

Meanwhile, European stocks ended mixed amid ongoing concerns on trade war between the US and China.

US markets were closed for Independence Day holiday.

JF Apex said the FBM KLCI could extend its rebound and climb towards the resistance of 1,700 points following yesterday gains. The FBM KLCI rose 8.08 points to 1688.45 points on Wednesday.