Trading ideas: Sapura Energy, Unisem, Sunway, MyEG, Pasukhas, Magni-tech

  • Business
  • Thursday, 13 Sep 2018

KUALA LUMPUR: SAPURA ENERGY BHD, UNISEM (M) BHD, Sunway Bhd, MY E.G. SERVICES BHD (MyEG), PASUKHAS GROUP BHD and Magni-Tech Industries Bhd are among the stocks to watch, according to JF Apex Research.

Sapura Energy is disposing a 50% stake in its unit Sapura Upstream Sdn Bhd to OMV Akteingesellschaft, signalling it is opting for a stake sale rather than an IPO avenue to pare down its debts.

Unisem has received a pre-conditional voluntary conditional takeover offer from joint offerors, comprising executive chairman and managing director John Chia Sin Tet as well as China’s Tianshui Huatian Technology Co Ltd (TSHT) at RM3.30 per share.

Sunway and a Singapore company have won the tender to develop a 4.46-acre executive condominium site in the island republic via their S$271mil (RM817.17mil) bid.

MyEG has been granted a two-year licence to carry out recruitment activities for job seekers within and outside Malaysia and foreign employees within Malaysia.

Pasukhas has secured a contract to sell a vessel of steam coal in South Kalimantan, Indonesia for US$4.93mil (RM20.44mil).

Magni-Tech’s 1QFY19 net profit grew 12.38% year-on-year, on higher earnings from its garment business.

Meanwhile, US markets ended mixed with the Dow and S&P climbing overnight after news report of the US proposing a fresh round of trade talks with China.

Earlier, European stocks ended higher with gains in oil and gas and retail counters.

“Following the encouraging performance in the US and Europe, the FBM KLCI could trend sideways and hover below the resistance of 1,800 points,” JF Apex said.

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