Trading ideas: TA Enterprise, Kelington, MMHE, CJ Century, Genting Plantations


  • Analyst Reports
  • Thursday, 13 Feb 2020

KUALA LUMPUR: Stocks to watch on Thursday include TA Enterprise Bhd, Kelington Group Bhd, MALAYSIA MARINE AND HEAVY ENGineering Bhd, CJ Century Logistics Holdings Bhd and Genting Plantations Bhd, according to JF Apex Research.

TA Enterprise is making a conditional voluntary offer to buy out 2.12 billion shares, which is equivalent to a 39.83% stake in TA Global it does not already own.

The stockbroking group is offering two options, namely cash offer or a share swap, for TA Global’s minority shareholders.

TA Global shareholders may choose from either a cash offer of 28 sen per existing share held, or a share swap based on an exchange ratio of 0.4211 new ordinary share in TA Enterprise to be issued at 66.5 sen each for every TA Global share surrendered.

Kelington’s subsidiary in China has bagged RM64mil worth of contracts from the country’s largest semiconductor foundry company.

Malaysia Marine and Heavy Engineering swung back to profit in its 4QFY19 as its marine segment also turned positive on the back of improved revenue from higher dry docking services on liquefied petroleum gas vessels and conversion work.

CJ Century Logistics is acquiring CJ Korea Express Malaysia Sdn Bhd from CJ Century’s Singapore-based substantial shareholder, CJ Logistics Asia Pte Ltd, for RM100mil to expand its logistics business.

The group said the acquisition will allow it to further strengthen its total logistics offerings as well as expand key logistics hub and networks.

Genting Plantations and Elevance have ended their RM89mil metathesis plant venture in Sabah.

Meanwhile, US markets rose to record high levels overnight after China has taken measures to prevent an economic slowdown.

Earlier, European stocks advanced amid fears of the coronavirus outbreak and corporate earnings.

“Following the positive performances in the US and Europe, the FBM KLCI could follow suit and rebound towards its resistance level of 1,570 points, ” JF Apex said.

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TA Enterprise , Kelington , MMHE , CJ Century

   

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