Trading ideas: Boustead, Eversendai, Texchem, Asdion, Selangor Properties


KUALA LUMPUR: JF Apex Research expects Boustead Holdings Bhd , Eversendai Corp Bhd , Texchem Resources Bhd , Asdion Bhd and Selangor Properties Bhd to be among the stocks to watch on Monday following their latest corporate news.


Boustead’s is selling its Royale Chulan Bukit Bintang Hotel in Kuala Lumpur to Singapore-based Hotel Royal Ltd for RM197mil.


IJM Corp Bhd founders Koon Yew Yin ceased to be substantial holder of Eversendai Corp Bhd after dispose 26.18 million shares.


Texchem Resources Bhd sold its 51% stake in wholly own unit Acumen Scientific Sdn Bhd to Delaware for RM4.28mil to unlock the value of its investment there.


Asdion Bhd is acquiring Kingdom Infra Holdings Bhd, which holds exclusive rights to operate the 30-acre sea-port land and marine supply base in Kelantan for RM66.5mil.


Selangor Properties Bhd posted a net profit of RM23.04mil in the  1QFY2019 compared to a net loss of RM40.94mil in the previous corresponding quarter due to lower foreign exchange losses.


US markets rose on Friday following gains in technology counters and renewed optimism on the US-China trade deal.


European stocks also advanced following a delay in Brexit.


“Following the positive performance in the US and Europe, the FBM KLCI could climb towards the resistance of 1,710 points,” JF Apex said.