Trading ideas: TH Heavy, London Biscuits, Wegmans, Sime Darby

KUALA LUMPUR: Stocks to watch on Wednesday include TH Heavy Engineering Bhd, London Biscuits Bhd, Wegmans Holdings Bhd and Sime Darby Bhd, according to JF Apex Research.

TH Heavy Engineering has received the green light from Petroliam Nasional Bhd (Petronas) to supply certain products and services to oil and gas companies in Malaysia, after a multi-year suspension due to non-performance in 2016.

Trading of London Biscuits shares will be suspended from Jan 21, until further notice. London Biscuits is currently facing a winding-up petition, and has pledged cooperation in the interim liquidation process.

Lim San Peen of PricewaterhouseCoopers Advisory Services Sdn Bhd has been appointed as the interim liquidator.

A fire broke out at one of three premises belonging to Wegmans Furniture Industries Sdn Bhd, a wholly-owned subsidiary of Wegmans Holdings, in Muar on Jan 13.

Deeming it as minor, Wegmans said the fire affected one of the spraying lines and inventory work-in-progress.

Sime Darby said its 36.6%-owned joint venture company Weifang Port Services Co Ltd has accrued in its accounts, a 711 million yuan (RM427mil) outstanding sum due to Chinese contractor CCCC Tianjin Dredging Co Ltd.

Meanwhile, US markets ended mixed overnight amid gains in financial counters as the US and China prepares to sign phase one of the trade deal later today.

Earlier, European stocks closed slightly higher after a choppy session as China's negotiators arrive in arrived in Washington to sign the trade agreement.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain lacklustre with support at 1,570 points, ” JF Apex said.

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