Trading ideas: Petra Energy, Luxchem, Scomi Energy, Eversendai, Icon, MUI

  • Analyst Reports
  • Tuesday, 18 Feb 2020

KUALA LUMPUR: Petra Energy Bhd, Luxchem Corp Bhd, Scomi Energy Services Bhd, Eversendai Corp Bhd, Icon Offshore and Malayan United Industries Bhd (MUI) are among the stocks to watch on Tuesday, according to JF Apex Research.

Petra Energy Bhd's net profit grew 3.42% to RM21.68mil in the fourth quarter ended Dec 31,2019 (4QFY19) from RM20.96mil a year ago.

Luxchem Corp Bhd’s net profit for the fourth quarter ended Dec 31,2019 rose 11.5% to RM9.57mil from RM8.58mil a year earlier.

Former Renong Bhd managing director Datuk Mohd Zakhir Siddiqy has emerged as a substantial shareholder in Scomi Energy Services Bhd, with an 18.1% stake in the oil and gas company.

Eversendai Corp Bhd's subsidiary has secured RM330mil worth of projects in India. With the new wins, its total contract wins to-date in 2020 amount to RM653mil, bringing its order book to approximately RM2.2bil.

Icon Offshore Bhd's share price hit limit up today after surging as much as 30 sen or 127.66% in morning trades following Bursa Malaysia’s decision to uplift the offshore support vessel provider's designated securities status today.

Sinmah Capital Bhd has scrapped plans to acquire two pieces of land together with a three-star hotel and a six-storey commercial building sited on them in Bandar Nilai Utama, Seremban, for a combined RM27mil.

Malayan United Industries Bhd (MUI) is reportedly in talks with its lenders to secure a fresh drawdown to keep its fashion and homeware retail chain Laura Ashley afloat, according to a news report.

Meanwhile, US markets closed on Monday following Presidents’ Day.

Earlier, European stocks climbed after China's central bank reduced interest rates to bolster the economy from the coronavirus impact.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways above the support of 1,520 points, ” JF Apex said.

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Petra Energy , Eversendai , Luxchem , Scomi Energy


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