Trading ideas: Scomi Group, Marine & General, Mudajaya, Kelington, Reach


  • Analyst Reports
  • Wednesday, 22 Jan 2020

KUALA LUMPUR: JF Apex Research expects Scomi Energy Services Bhd, Scomi Group, Marine & General Bhd, Mudajaya Group Bhd and ATTA Global Group Bhd to be among the stocks to watch on Wednesday.

The research house also expects Rohas Tecnic Bhd, Reach Energy Bhd, Straits Inter Logistics and Kelington Group Bhd to see trading interest following their latest news.

Scomi Energy’s Practice Note 17 (PN17) status is confirmed, after its waiver application was rejected by Bursa Malaysia.

Scomi Group has been slapped with a letter of demand for loan repayments of RM21.85mil each from businessman Tan Sri Wan Azmi Wan Hamzah and Gelombang Global Sdn Bhd (GGSB), after the group failed to repay both parties.

Rohas Tecnic has bagged a water supply system contract worth 332 billion dong (RM58.4mil) in Vietnam.

Marine & General has secured a RM16mil contract from Petronas Carigali Sdn Bhd for the provision of an anchor handling tug and supply vessel.

Mudajaya has bagged a RM31.99mil contract, to be completed by July this year, to supply and maintain street lighting and traffic light system for the Sungai Besi–Ulu Kelang Elevated Expressway (SUKE) project.

Kelington landed a RM35mil contract from a leading global semiconductor chip manufacturer to provide infrastructure works for a facility in Penang.

Reach Energy's subsidiary in Kazakhstan has obtained production contracts for the North Kariman and Yessen fields there, for the respective periods of 16 and 25 years, starting Jan 1 this year.

ATTA Global confirmed that the suspension of the trading of its shares was due to a police raid at its premises in the Prai Industrial Estate in Penang on Jan 16.

Straits Inter Logistics has secured the operation and facility management of Labuan Liberty Terminal in the Federal Territory of Labuan for a period of six years.

Meanwhile, Global markets declined following the outbreak of Wuhan virus in China.

US markets came off record highs after the first case of the virus was reported in Seattle.

Similarly, European stocks retreated due to concern of the virus will spread in China during the Lunar New Year.

“Following the bearish sentiment in global markets, the FBM KLCI remains under pressure with support at 1,570 points, ” JF Apex said.

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Scomi , Rohas Tecnic , Mudajaya , Atta

   

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