Trading ideas: OSK Holdings, Gas Malaysia, MMHE, Eversendai

KUALA LUMPUR: JF Apex Research expects OSK Holdings Bhd, Gas Malaysia Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) and Eversendai Corp Bhd to be among the stocks to watch following their latest corporate news.

OSK Holdings has permanently scrapped the listing of its indirect subsidiary OCC Cables Ltd on the Main Board of The Stock Exchange of Hong Kong Ltd (HKEx), citing "continuous adverse global market conditions".

Gas Malaysia will raise the average natural gas base tariff for the non-power sector in Peninsular Malaysia to RM32.69 per million british thermal units (MMBtu) from Jan 1 to June 30 next year, up from the current RM31.92 per MMBtu.

MMHE in a consortium with UK-based TechnipFMC plc, has bagged a six-year contract from Saudi Arabian Oil Co (Saudi Aramco) to undertake engineering, procurement, fabrication, transportation, and installation of offshore facilities within Saudi Arabia waters.

Eversendai has secured jobs worth RM1.44bil year-to-date. Out of RM1.44bil, the group has won RM321mil worth of new contracts in Singapore, Qatar and India.

Overnight, US markets rallied following sharp gains in consumer and energy counters after higher retail spending and oil prices jumped.

The 30-stock Dow Jones closed 1,086.25 points higher, or 4.98%, at 22,878.45 while the S&P 500 added 4.96% to to 2,467.70.

European markets remained closed on Boxing Day.

“Following the bullish performance in Wall Street, the FBM KLCI is expected to climb towards its resistance of 1,710 points,” JF Apex said.

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