Trading ideas: Ekovest, Icon Offshore, Kim Hin, Alam Maritim, Mitrajaya


  • Analyst Reports
  • Wednesday, 27 Nov 2019

KUALA LUMPUR: Stocks to watch on Wednesday include Ekovest Bhd, Icon Offshore Bhd, KIM HIN INDUSTRY BHD, ALAM MARITIM RESOURCES BHD and Mitrajaya Holdings Bhd, according to JF Apex Research.

Ekovest has entered into a "multi-angle, broad-based strategic collaboration" with China's state-owned conglomerate China Railway Group Ltd (CREC).

The collaboration aims to explore new ventures and projects like the construction and development of infrastructure in Malaysia and the Asia Pacific.

Icon Offshore has received the nod from its shareholders to move forward with its debt restructuring and cash call proposal, which will greatly help reduce the debt burden that has eaten into the company's earnings.

Kim Hin has agreed to accept the 60.18 million yuan (RM35.79mil) compensation offered for the relocation of its properties in Zhujing Development Area in Shanghai.

Alam Maritim has bagged two contracts worth RM19.71mil for the provision of one anchor handling tug supply (AHTS) vessel to Conoco Phillips Sarawak Ltd and ROC Oil (Sarawak) Sdn Bhd.

Mitrajaya expects to gain RM32.67mil from the disposal of 93 pieces of leasehold land in Melaka for RM63mil.

Meanwhile, Inari, MPI, YTL Corp, YTL Power, CMSB, Tan Chong, TH Plantations, TDM, Tambun saw their quarterly earnings decline year-on-year.

On the other hand, Sime Darby, IOI Corp, TM, YTL REIT, MMC, Leong Hup, IJM, IJM Plantations, Carlsberg, Green Packet, Ekovest, IRIS posted better year-on-year quarterly net profits.

Overnight, US markets rose overnight to record highs after better-than-expected quarterly results posted by several consumer counters.

Earlier, European stocks advanced following optimism and progress in the US-China trade

Talks.

“Following the bullish performances in the US and Europe, the FBM KLCI could climb towards its resistance level of 1,615 points, ” JF Apex said.

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Ekovest , Icon Offshore , Kim Hin , Alam Maritim

   

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