Trading ideas: IGB Reit, Supermax, Top Glove, Versatile, Mah Sing, Widad

KUALA LUMPUR: JF Apex Research expects IGB Reit, Supermax Corp Bhd, Top Glove Corp Bhd, Versatile Creative Bhd, Mah Sing Group Bhd and Widad Group Bhd to be among the stocks to watch on Tuesday.

IGB REIT’s 2QFY20 net property income plunged 62% year-on-year while gross revenue fell 54% year-on-year.

Supermax has proposed a bonus share issue of one share for every existing share, involving up to 1.36 billion new shares.

Top Glove has proposed a bonus issue of up to 5.48 billion new shares on the basis of two bonus shares for one existing unit held.

Versatile Creative, whose share price closed at a near two-year high in active trading, said it is in the process of exploring a new business arrangement in response to an unusual market activity (UMA) query.

Mah Sing’s first high-rise condominium in Wangsa Melawati, M Adora’s Tower A comprising 378 units recorded a take-up of 90% during its launch on July 18.

Widad's founder and group executive chairman Tan Sri Muhammad Ikmal Opat Abdullah has further increased his shareholding in the group to 71.99%, after acquiring a 7.58% stake via several open market and off-market transactions recently.

Meanwhile, US markets rose overnight following gains in technology counters and positive development in coronavirus vaccine.

Earlier, European stocks climbed after positive results from a potential coronavirus vaccine.

“Following the positive performances in the US and Europe, the FBM KLCI could climb towards its resistance of 1,615 points,” JF Apex said.

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IGB Reit , Supermax , Top Glove , Versatile , Widad


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