Trading ideas: Bumi Armada, AMMB, Sedania, Serba Dinamik, Xidelang

KUALA LUMPUR: Stocks to watch on Thursday include Bumi Armada Bhd, AMMB Holdings Bhd, Sedania Innovator Bhd, Serba Dinamik Holdings and Xidelang Holdings Ltd, according to JF Apex Research.

Bumi Armada said the extension of the floating production storage and offloading (FPSO) vessel contract awarded to its joint-venture in India has been delayed due to the current lockdown there.

Yinson has completed a US$800mil (RM3.47bil) refinancing exercise for its floating, production, storage and offloading (FPSO) unit, John Agyekum Kufuor (JAK).

AMMB and Insurance Australia Group Ltd (IAG) invited potential suitors to submit non-binding bids for the Malaysian insurer by the end of this month, according to a news report. AMMB controls 51% of AmGeneral, while IAG owns the remaining balance.

Sedania Innovator via one of its special purpose vehicle — Esports Players League (ESPL) has partnered India’s most popular mobile wallet provider Paytm First Games to expand its global esports tournament network and platform.

Serba Dinamik has bagged a US$1.78bil (RM7.71bil) contract for the engineering, procurement and construction of an innovation hub, academic campus, related facilities and information technology (IT) infrastructure in Abu Dhabi, United Arab Emirates.

Also, SCIB and Kumpulan Powernet are expected to be under investors’ radars with the two are having common major shareholder as Serba Dinamik.

Oil & Gas counters are expected to be under limelight after the International Energy Agency (IEA) forecast a 29 million barrel per day (bpd) dive in April oil demand to levels not seen in 25 years and said no output cut could fully offset the near-term falls facing the market.

Xidelang is going to venture into the manufacturing of washable and reusable face masks in collaboration with Fujian BiTiChong Baby Products Co Ltd.

Overnight, US markets tumbled overnight led by banking, energy and material counters after disappointing quarterly results as well as retail sales data.

Earlier, European stocks declined over concerns on the global economy as a result of the coronavirus.

“Following the bearish performances in the US and Europe, the FBM KLCI could retrace towards the support of 1,370 points,” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Bumi Armada , Serba Dinamik , AMMB , Sedania


Next In Business News

Ringgit opens higher as US keeps policy status quo
IJM Corp shares inch up on 15 sen dividend plan
How courage has led a local pet store to digitalise and thrive
Blue chips inch higher but record high Covid cases may check gains
Spotlight on Malaysian business: Riding out the pandemic storm by adapting to business changes
Kenanga upgrades Bursa to 'outperform', lowers target price
Trading ideas: IJM Corp, Bioalpha, Rhone Ma, Mercury, Glomac, Gadang
Powell says Fed likely to taper asset purchases 'at the same time'
Houston man pleads guilty in scheme to sell US$317 mln bogus masks to Australian state
Fed establishes standing repo facilities to support money markets

Stories You'll Enjoy