Trading ideas: Mestron, Astro, Sarawak Energy, Damansara Realty, ARB

  • Business
  • Tuesday, 18 Jun 2019

KUALA LUMPUR: Mestron Holdings Bhd, Astro Malaysia Holdings Bhd, Sarawak Energy Bhd, Damansara Realty Bhd and ARB Bhd are among the stocks to watch on Tuesday.

Mestron makes its listing debut today in the Ace Market. Mestron raised RM25.28mil from the issue of 158 million new shares at 16 sen per share from the exercise.

Pestech has secured a US$7.16mil (RM29.90mil) contract to supply mobile substations to Iraq’s electricity ministry.

Astro has inked a strategic partnership with China-based online entertainment service provider iQIYI.

Under this agreement, Astro has the exclusive rights to deliver iQIYI content on TV, On Demand and OTT in Malaysia, including the world's first iQIYI branded channel comprising iQIYI's extensive slate of original content, from drama to variety shows and movies.

Sarawak Energy is eyeing the potential sale of additional electricity to Indonesia. This follows recent reports that the Indonesian capital might be shifted to West Kalimantan, from Jakarta, in the near future.

Damansara Realty is partnering the state investment arm of Negeri Sembilan — the Menteri Besar Negeri Sembilan (Inc) or MBNSI — to jointly develop a RM771mil mixed development in Bandar Sri Sendayan, Negeri Sembilan.

ARB has teamed up with a Cambodian firm to implement the enterprise resource planning (ERP) system and solutions in that country.

Meanwhile, US markets posted slight gains overnight after technology counters staged a rebound while investors await the Federal Reserve's decision on interest rate tomorrow.

European stocks ended mixed as airline counters declined while the UK is still searching for a replacement for its Prime Minister.

“Following the mixed performance in the US and Europe, the FBM KLCI could remain lackluster with no immediate catalyst and hover above its support of 1,625 points,” JF Apex said.

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Astro , Mestron , Sarawak Energy , ARB


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