Trading ideas: K-One, Pintaras Jaya, Parkson Holdings, Sime Darby Plantation, Eversendai


KUALA LUMPUR: Stocks to watch on Tuesday include K-One Technology Bhd, Pintaras Jaya Bhd, Parkson Holdings Bhd, Sime Darby Plantation Bhd and Eversendai Corp Bhd, according to JF Apex Research.

K-One Technology has been awarded a licence to manufacture and distribute low-cost breathing ventilators developed by NASA Jet Propulsion Laboratory (NASA JPL) for use by Covid-19 patients.

Pintaras Jaya has bagged a piling contract worth S$39mil (RM119mil) in Singapore.

Parkson Holdings' 54.97%-owned Hong Kong-listed unit has inked a 20-year tenancy agreement for a commercial space measuring 54,000 sq m in Wuzhou City, China.

Sime Darby Plantation's indirect wholly-owned unit Ultra Oleum Pte Ltd has disposed of its entire 52% stake in Verdant Bioscience Pte Ltd (VBS) to SIPEF and Ackermans & van Haaren NV (AvH) for a total cash consideration of US$8.61mil or approximately RM37.4mil in cash.

Eversendai’s wholly-owned unit Eversendai Offshore has secured two European

offshore wind renewable energy (RE) projects worth a total of RM186mil combined from Petrofac Ltd.

Overnight, US markets rose despite riots and trade tension with China as investors are optimistic on reopening economies.

Earlier, European stocks gained as lockdowns are being lifted.

“Following the positive performances in the US and Europe, the FBM KLCI could extend its ascend towards the resistance of 1,515 points,” JF Apex said.

The research house said the FBM KLCI technical indicators are positive with the RSI entering the overbought zone while the MACD trended higher above its signal line.

It noted that after the selldown in March, the FBM KLCI hit the lowest since May 2010 but staged a sharp rebound.

“After recent gains, the FBM KLCI beat the resistance of 1,460 points and the 100-day moving average. The benchmark index could extend its bullish momentum towards the next resistance of 1,515 points,” JF Apex said.

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K-One , Pintaras Jaya , Parkson Holdings

   

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