Trading ideas: Digi, Axiata, Salcon, Bumi Armada, Straits Inter Logistics, Barakah


KUALA LUMPUR: JF Apex Research expects Digi.com Bhd, Salcon Bhd, Bumi Armada BhdAxiata Group Bhd, Straits Inter Logistics Bhd and Barakah Offshore Petroleum Bhd to be among the stocks to watch on Tuesday.


Digi’s largest shareholder, Norway-based Telenor Group, are in discussions with Axiata regarding a potential non-cash combination of their telecom and infrastructure assets in Asia.


Salcon's unit has bagged a sub-contract worth RM18.33mil for construction works for PNB Merdeka Ventures Sdn Bhd, from Gamuda M&E Sdn Bhd.


Bumi Armada said its joint venture (JV) company Shapoorji Pallonji Bumi Armada Godavari Pte Ltd (SPBAG) has been awarded a nine-year charter contract worth US$2.1bil (RM8.8bil), by India’s state-owned oil company, Oil and Natural Gas Corp Ltd.


Straits Inter Logistics has signed an agreement with an upstream oil and gas (O&G) company Elsa Energy Sdn Bhd to explore potential acquisition opportunities.


Barakah has entered into a Heads of Agreement with Minsheng Financial Leasing Co Ltd (Minsheng) to form a strategic partnership to explore areas of collaboration in relation to oil and gas projects under Minsheng’s portfolio.


Meanwhile, US markets recovered bulk of their earlier losses after staging a rebound as investors remained optimistic of a US-China trade deal despite President Trump's latest threat of a tariff hike.


Earlier, European stocks declined after Trump threatened to impose further duties on Chinese goods.


“Following the rebound in Wall Street, the FBM KLCI could follow suit and climb up but the near-term trend remains sideways below the resistance of 1,655 points,” JF Apex said.


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Axiata , Digi , Bumi Armada , Salcon

   

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