Trading ideas: SCIB, Berjaya Media, Ekovest, Unisem, Asia Media

KUALA LUMPUR: JF Apex Research expects Sarawak Consolidated Industries Bhd (SCIB), Berjaya Media Bhd, Ekovest Bhd, Luster Industries Bhd, Asia Media Group Bhd and Unisem (M) Bhd to be among the stocks to watch on Tuesday.

SCIB has secured five engineering, procurement, construction and commissioning (EPCC) contracts worth RM175.4mil.

Berjaya Media will be suspended on Nov 5 for a possible delisting two days later unless this is appealed.

Gagasan Nadi Cergas Bhd will be suspending the trading of its shares on Tuesday, pending a material announcement.

Ekovest’s 30.44%-owned associate company, PLS Plantations, has proposed to raise up to RM1.05bil via a renounceable rights issue with free warrants to expand its durian plantation business.

Luster Industries is buying a 51% stake for RM17.85mil in Jade Classic Sdn Bhd that is jointly developing a plot of land in Sepang, Selangor, into a mixed development with an estimated gross development value or GDV of RM900mil.

Asia Media Group says there is a significant variation between its audited and unaudited financial results for the financial year ended Dec 31,2018 (FY18), following the discovery of impairment losses and provisions for litigation claims amounting to RM22.9mil that were not accounted for by the previous management.

Unisem incurred a net loss of RM3.21mil for the third quarter ended Sept 30,2019 (3QFY19) — its first quarterly loss since 2013 — versus a net profit of RM35.15 million a year ago, due to expenses arising from the closure of its Batam unit, PT Unisem.

Meanwhile, US markets surged overnight with the S&P hitting a record high after strong quarterly earnings and positive development in US-China trade talks.

Earlier, European stocks advanced after progress in Brexit and corporate results.

“Following the bullish performances in the US and Europe, the FBM KLCI could climb towards its resistance of 1,585 points, ” JF Apex said.

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SCIB , Unisem , Asia Media , Ekovest


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