Trading ideas: TM, Mudajaya, PiCorp, Perdana Petroleum, MCE

  • Business
  • Friday, 22 Mar 2019

KUALA LUMPUR: JF Apex Research expects Telekom Malaysia Bhd (TM), Mudajaya Group Bhd, Progressive Impact Corp Bhd, Perdana Petroleum Bhd and MCE Holdings Bhd to be among the stocks to watch on Friday.

Telekom Malaysia said Malaysian Football League LLP (MFL) has filed a legal suit against the group, seeking reliefs of over RM400mil and a declaration that TM had breached a sponsorship contract between both parties.

Mudajaya said the fourth and final unit of its long-delayed coal-fired thermal power plant in India has achieved its commercial operation date.

It said the first three units of the power plant, located in the centre-east state of Chhattisgarh, had secured power purchase agreements (PPAs) through open tender.

Progressive Impact has bagged a 109.22 billion rupiah (RM31.35mil) contract from Chevron Corp to undertake environmental sampling and laboratory analysis for its Sumatera operation in Indonesia.

Perdana Petroleum has secured a RM17.7mil contract from Dayang Enterprise to supply two units of accommodation work barges.

MCE has secured two contracts to supply various electronic and mechatronic components and parts for Proton and Perodua new car models.

Meanwhile, US markets rose overnight following gains in technology counters and outcome from the Federal Reserve's latest policy meeting.

The Dow Jones Industrial Average closed 216.84 points higher at 25,962.51 while the S&P 500 closed 1.1% higher at 2,854.88.

Earlier, European stocks ended mixed after the Fed abandoned its plans to raise interest rates this year and the Bank of England kept interest rates unchanged.

“Following the positive performance in Wall Street, the FBM KLCI could stage a rebound with support at 1,655 points,” JF Apex said.

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TM , Mudajaya , MCE


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