Trading ideas: Barakah, Kawan Food, Jaks Resources, MyEG, Silver Ridge, Seacera

KUALA LUMPUR: JF Apex Research expects BARAKAH OFFSHORE PETROLEUM BHD, KAWAN FOOD BHD, JAKS Resources Bhd, My EG Services Bhd (MyEG), SILVER RIDGE HOLDINGS BHD and Seacera Group Bhd to be among the stocks to watch on Thursday.

Barakah has won a five-year contract to service Petrofac (Malaysia-PM304) Ltd’s oil and gas fields offshore Peninsular Malaysia.

Kawan Food may face a margin squeeze this year, due mainly to a yearly depreciation of some RM20mil on its newly-commissioned Pulau Indah facility.

Jaks Resources has released the payment on a bank guarantee of RM50mil to Star Media Group, marking the end of a dispute between the two parties that has been ongoing for almost a year.

MyEG says it has received the government's nod for the renewal of its courier service licence for a three-year period, which will allow the company to expand its e-fulfilment service.

Silver Ridge has bagged two contracts from TELEKOM MALAYSIA BHD (TM) with a combined value of RM5.7mil to provide maintenance and support services for Huawei.

Seacera proposed two corporate exercises to trim its debts, with one being the issuance of new shares to repay its creditors, and the other a private placement of up to 30% of its existing paid up share base to selected investors to repay bank borrowings.

Overnight, US markets rose after strong quarterly earnings by financial counters.

The Dow Jones Industrial Average rose 141.57 points to 24,207.16 while the S&P 500 gained 0.2% to close at 2,616.10.

Earlier, European stocks advanced after UK lawmakers voted against Prime Minister Theresa May's Brexit plan.

Business News , Analyst Reports , Barakah , MyEG


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