Trading ideas: Pasdec, Barakah, Revenue Group, Orion, Kerjaya Prospek

  • Business
  • Friday, 12 Oct 2018

KUALA LUMPUR: PASDEC HOLDINGS BHD, BARAKAH OFFSHORE PETROLEUM BHD, Revenue Group Bhd, ORION IXL BHD and KERJAYA PROSPEK GROUP BHD are among the stocks to watch on Friday, according to JF Apex Research.

Pasdec has bagged a contract from Nissan South Africa (Pty) Ltd (Nissan SA) to manufacture and supply electrical wiring harness sets, which is expected to generate revenue of RM380mil.

Barakah has secured a five-year contract to provide maintenance, construction and modification work for structures and facilities in oil and gas fields offshore Peninsular Malaysia.

Revenue Group proposed to undertake a bonus issue of 111.42 million five-year warrants on the basis of one warrant for every two existing shares to reward shareholders.

Orion IXL has inked a 15-year agreement to develop and operate an online end-to-end loan application system.

Kerjaya Prospek is buying a 90% stake in Yakin Land Sdn Bhd (YLSB), which has a 36-storey condominium project in Batu, Kuala Lumpur, for RM10.8mil.

Meanwhile, US markets plunged overnight as technology counters extended their selldown following fears of rising interest rates.

The Dow Jones Industrial Average closed 545.91 points lower at 25,052.83 while the S&P 500 dropped 2.1% to 2,728.37 and posted its sixth straight decline.

Similarly, European stocks tumbled over concerns on economic slowdown and market correction.

“Following the bearish performance in Wall Street, the FBM KLCI could retest the support of 1,700 points,” JF Apex said.

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