Trading ideas: Barakah, Ekovest, Sinotop, Salcon, Destini

  • Business
  • Wednesday, 24 Apr 2019

KUALA LUMPUR: JF Apex Research expects BARAKAH OFFSHORE PETROLEUM BHD, Ekovest Bhd, Sinotop Holdings Bhd, SALCON BHD and Destini Bhd to be among the stocks to watch on Wednesday.

Barakah has secured a white knight to inject fresh capital into the group under the company's plannned debt restructuring.

Ekovest has proposed to raise up to RM202.59mil via a private placement to third party investors to be identified later, to repay bank borrowings, fund its property development projects and for working capital.

Sinotop's major shareholder plans to inject his construction company into the group in line with its strategic plan to expand and strengthen its infrastructure construction business to further enhance the group’s earnings.

Salcon has secured a RM39.8mil works package from Pengurusan Aset Air Bhd (PAAB) to supply and install mild steel pipes for the Langat 2 Water Treatment Plant and Water Reticulation System.

Destini Avia Technique Sdn Bhd (DAT), a 50:50 joint venture between Destini and UK-based Avia Technique Ltd, will undertake repair and overhaul activities on aircraft safety equipment for Malindo Airways Sdn Bhd and Thai Lion Mentari Co Ltd.

Meanwhile, US markets rallied with the S&P and Nasdaq hitting all-time highs after strong corporate earnings.

The S&P 500 ended the day just below its intraday record of 2,940.91. The Nasdaq closed up 1.3% at 8,120.82. The Dow Jones Industrial Average gained 145.34 points to close at 26,656.39

Similarly, European stocks advanced following higher oil prices and optimism on quarterly results

“Following the bullish performance in Wall Street, the FBM KLCI could extend its rebound with resistance at 1,650 points,” JF Apex said.

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Barakah , Ekovest , Salcon


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