Trading ideas: Kerjaya Prospek, T7, PetChem, Oceancash, Permaju Industries

KUALA LUMPUR: JF Apex Research expects Kerjaya Prospek Group Bhd, T7 Global Bhd, Petronas Chemicals Group Bhd (PetChem), Oceancash Pacific Bhd and Permaju Industries Bhd to be among the stocks to watch on Thursday.

Kerjaya Prospek has bagged a RM203.7mil contract from Gamuda Bhd to undertake the construction of a residential and commercial development project in Gamuda Cove.

T7 Global has inked a memorandum of agreement (MOA) with Japanese shipbuilding giant Mitsui E&S Shipbuilding Co Ltd to explore new business opportunities on the supply of ships to the Vietnamese Navy and Coast Guard.

Petronas Chemicals is collaborating with PT AKR Corporindo Tbk to distribute chemicals across Indonesia.

Oceancash Pacific is embarking on an expansion to double its production capacity for non-woven materials used in the production of personal protective equipment to 16,000 tonnes per annum, with an estimated completion time of less than 18 months.

The estimated capital expenditure for the project will be RM40mil (for land and machinery) which will be funded through internal funds, placements and bank borrowings.

Permaju Industries has teamed up with Vsolar, via a joint venture agreement, for a RM217 million large-scale solar power project in Seremban.

Media Prima has bought the remaining stake in home shopping company CJ Wow Shop. The acquisition is part of the group's transformation plan to tap into the strong prospects of the home shopping and e-commerce industry.

Rev Asia said it will be acquiring 100% stake in iMedia Asia Sdn Bhd from Catcha Investments Ltd and iCreative Asia Sdn Bhd for RM10mil as part of its regularisation plan, aiming to help the ACE Market-listed group come out of the Guidance Note 2 status.

Brahim's associate company Brahim's SATS Food Services Sdn Bhd (BSFS), which is involved in the in-flight catering business, is exploring the non-aviation segment to ensure business continuity.

Green Ocean is jumping on the rubber glove bandwagon as it hopes to capitalise on the burgeoning demand for gloves while making the most out of the opportunities created by the Covid-19 pandemic.

The group said it intends to commission up to 12 double former glove-dipping lines in stages over the course of 36 months, of which 12 lines are expected to yield a combined production capacity of up to two billion pieces of gloves per annum.

Damansara Realty said a subsidiary has entered into a term sheet agreement with YHS Resources Sdn. Bhd to start work on a bauxite mining project in Kuantan, Pahang.

Meanwhile, US markets advanced overnight with the S&P and Nasdaq hitting record highs again after better-than-expected manufacturing PMI data.

Earlier, European stocks ended mixed after inflation came in below expectation.

“Following the positive performance in Wall Street, the FBM KLCI could stage a rebound with support at 1,510 points,” JF Apex said.

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Kerjaya Prospek , PetChem , Permaju , T7 , Oceancash


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