Trading ideas: EA Technique, MAHB, Cypark, Damansara Realty

  • Business
  • Wednesday, 03 Jul 2019

KUALA LUMPUR: EA Technique (M) Bhd, MALAYSIA AIRPORTS HOLDINGS BHD (MAHB), Cypark Resources Bhd and Damansara Realty Bhd are among the stocks to watch on Wednesday, according to JF Apex Research. 

EA Technique is issuing 121.62 million new shares at an issue price of 47 sen apiece to settle a debt of RM57.16mil that it owes its major shareholder, Sindora Bhd. 

It is also planning a private placement of up to 106.36 million new shares or about 17% of its enlarged total number of issued shares.

MAHB said that it has received a nod from the Ministry of Finance (MoF) to immediately proceed with expansion plans in phases for the Penang International Airport (PIA).

Cypark Resources’ wholly-owned unit Cypark Ref Sdn Bhd intends to raise up to RM550mil fresh capital through issuance of Islamic Medium Term Notes programme, to finance 3x30MWAC solar photovoltaic power plant projects.

Damansara Realty's indirect wholly-owned unit Metro Parking Management (Philippines) Inc (MPP) has received a lease contract to construct and manage a parking lot in Muntinlupa City, Philippines.

Cast acrylic sheet manufacturer, ASIA POLY, has ventured into the food and beverage (F&B) segment with the signing of a shareholders agreement with Uncle Don's Holdings Sdn Bhd.

Meanwhile, US markets rose overnight with the S&P extending its record high but gains were capped after the US threatened to impose new tariffs on Europe. 

Earlier, European stocks advanced following optimism on the US-China trade deal.

“Following worries over the US-Europe trade, the FBM KLCI could take a breather after recent gains and hover sideways below the resistance of 1,730 points,” JF Apex said. 

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EA Technique , MAHB , Cypark


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