Trading ideas: BTM Resources, Inta Bina, Sedania, Sunway Reit, Eversendai


KUALA LUMPUR: BTM Resources Bhd , Inta Bina Group Bhd, Sedania Innovator Bhd, Sunway Real Estate Investment Trust (REIT) and Eversendai Corp Bhd are among the stocks to watch on Tuesday.


BTM Resources signed a Memorandum of Understanding (MoU) with MC Bio Sdn Bhd and Korea South-east Power Co Ltd (KOEN) and MOKPO City Gas Co Ltd on April 1 to set up a wood pallet manufacturing plant in Terengganu, Malaysia.


Inta Bina has bagged a 32-month contract worth RM108.49mil to build a 40-storey affordable housing complex in Mont’Kiara, Kuala Lumpur.


Sedania Innovator Bhd's unit Sedania As Salam Capital Sdn Bhd (SASC) inked a joint venture (JV) and shareholders' agreement on April 5 with Elzar Shariah Solutions Sdn Bhd to form the partnership under a new JV company.


The JV is to carry out certain conceptualisation, development and commercialisation activities in relation to fintech and other solutions in Islamic finance.


Sunway REIT’s shareholders approved the acquisition of three tracts of land that house Sunway College and Sunway University for RM550mil — achieving  99.995% of shareholder approval.


This will increase the REIT’s portfolio size to RM7.8bil, from RM7.3bil as of June 30, 2018 — and was funded by its REIT’s existing debt programmes.


Eversendai has clinched three new projects with a combined value of RM196mil in Qatar and Abu Dhabi, the United Arab Emirates.


Meanwhile, US markets ended mixed following losses in Boeing and investors monitoring the earnings season.


Earlier, European stocks declined as German trade data fell more than expected.


“Following the mixed performance in the US and Europe, the FBM KLCI could remain sideways below its resistance of 1,655 points,” JF Apex said.