Trading ideas: Selangor Properties, Eita Resources, Serba Dinamik, Cypark, Paramount


KUALA LUMPUR: Selangor Properties Bhd , Eita Resources Bhd , Serba Dinamik Holdings Bhd, Cypark Resources Bhd and Paramount Corp Bhd are among the stocks to watch on Friday, according to JF Apex Research.


The research house also expects Pavilion Real Estate Investment Trust , ViTrox Corp Bhd , Syarikat Takaful Malaysia Keluarga Bhd and Ancom Bhd to see trading interest following their latest corporate news.


Selangor Properties, is looking to take the company private at RM5.70 per share, through a proposed selective capital reduction and repayment exercise (SCR).


Eita Resources has secured an underground cable works contract from Tenaga Nasional Bhd worth RM48.83mil.


Serba Dinamik has secured a total of 13 operations and maintenance (O&M) contracts worth an aggregate sum of at least RM512.17mil.


Cypark Resources has proposed the issuance of one bonus share for every two existing shares held.


Paramount Corp. has proposed to dispose of three of its tertiary education campuses in Penang and Selangor to a special purpose vehicle (SPV), for a combination of cash amounting to RM420mil and new cumulative redeemable non-convertible preference shares in the vehicle.


Pavilion REIT’s 3QFY18 net property income rose by 20.5% year-on-year owing to higher rental income from Elite Pavilion Mall, Pavilion Kuala Lumpur and higher occupancy rates at Intermark Mall.


ViTrox’s 3QFY18 net profit jumped 25% year-on-year thanks to increase in revenue recorded for Automated Board Inspection and Machine Vision System.


Syarikat Takaful Malaysia has posted a 73% year-on-year jump in its 3QFY18 net profit on higher net wakalah fee income while Ancom’s 1QFY19 net profit jumped six-fold year-on-year mainly attributable to higher earnings from the industrial chemicals division.


Meanwhile, US markets rallied overnight following a rebound in technology counters.


Similarly, European stocks rose sharply as the European Central Bank kept interest rate unchanged.


“Following the bullish performance in the US and Europe, the FBM KLCI could follow suit and rebound towards the resistance of 1,700 points,” JF Apex said.