Trading ideas: Sime Darby, YTL Corp, HeiTech Padu, Ageson, Minetech, CSC Steel


  • Analyst Reports
  • Thursday, 23 Apr 2020

KUALA LUMPUR: JF Apex Research expects Sime Darby Bhd, YTL Corp Bhd, Heitech Padu Bhd, Ageson Bhd, Minetech Resources and CSC Steel Holdings Bhd to be among the stocks to watch on Thursday.

The research house also expects MCE Holdings Bhd, Nexgram Holdings Bhd, Green Packet Bhd and IGB Real Estate Investment Trust to see trading interest following their latest corporate news.

Sime Darby has inked a deal to sell its 30% stake in Tesco Stores (M) Sdn Bhd for RM300mil. The deal is estimated to provide Sime Darby with a net disposal gain of RM270mil.

YTL Corp’s indirect subsidiary YTL Starhill Global REIT Management Ltd, the manager of Singapore-listed Starhill Global Real Estate Investment Trust (Starhill Global REIT), has requested S&P Global Ratings to withdraw its corporate credit rating on the REIT and notes issued under the property trust’s medium-term notes programmes.

The REIT did not specify the reasons for its request for S&P to withdraw its corporate credit rating on Starhill Global REIT.

HeiTech Padu has bagged an RM19.89mil hardware and software upgrade contract from the National Registration Department. The two-year contract commences on May 1.

Ageson (formerly Prinsiptek Corp Bhd) has bagged a US$26.6mil (RM116.77mil) contract to sell natural sand to Hong Kong-based Boyijun Resources (HK) Ltd.

Minetech Resources’ unit Minetech Construction Sdn Bhd (MCSB) has received a letter of intent from Bumimaju MTE Engineering Sdn Bhd to appoint MCSB as a contractor to undertake a civil works project that is related to a pipeline laying project in Hulu Grik, Perak.

However, the monetary value of the contract was not disclosed.

CSC Steel is disposing of its entire 6% shareholding in CSGT Metals Vietnam Joint Stock Company for US$1.2mil (RM5.25mil), as it has not been able to secure a commanding share of the Vietnam steel market.

MCE Holdings is teaming up with Taiwan-based Juoku Technology Co Ltd to develop, produce and supply automotive lighting parts in Malaysia.

Nexgram’s unit Nexgram Industries Sdn Bhd has entered into a deal to sell medical ventilators to an Indonesian firm, PT Rafa Topaz Utama, for distribution in East Jakarta and certain other parts of Southeast Asia.

Kiplepay Sdn Bhd, a unit of Green Packet, recently teamed up with the Coalition of Malay Small Traders Association (GPPPKMM) to launch a ‘Warong Digital e-Bazaar Ramadan’ programme.

The programme uses Kiplepay’s e-wallet, which allows local traders to conduct online transactions and provides a cashless experience for customers.

IGB REIT’s net property income fell 14.6% year-on-year, no thanks to the lower income to the rental support provided to tenants, and lower car park income, arising from the COVID-19 pandemic and Movement Control Order (MCO) since mid-March.

Meanwhile, US markets rose overnight after oil prices rebounded and investors await for the jobless claims data later today.

Similarly, European stocks advanced following a sharp rebound in oil prices.

“Following the positive performances in the US and Europe, the FBM KLCI could remain buoyed with resistance at 1,415 points,” JF Apex said.

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Sime Darby , YTL Corp , HeiTech Padu , Ageson , Minetech

   

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