Trading ideas: Guocoland, Symphony Life, Kanger, Handal

KUALA LUMPUR: Guocoland, Symphony Life, Kanger and Handal Energy are among the stocks to watch on Wednesday following their corporate news, JF Apex Research said.

GuocoLand’s unit GLM Real Estate Holdings Sdn Bhd has received a notice of assessment for 2016 of RM82.6mil, comprising income tax of RM56.3mil and a penalty of RM26.3mil.

As for Symphony Life, it is planning to sell six parcels of industrial development land in Ulu Langat, Selangor to Perdana Park City Sdn Bhd for RM250mil. The disposal of the parcels is expected to result in a gain after tax of RM74.24mil for the group.

Kanger International has proposed to place out up to 386.97 million shares or 20% of its issued shares to raise RM68.88mil to third party investors.

Reservoir Link Energy’s 60%-owned subsidiary has bagged a contract from Thailand’s national petroleum company PTT Exploration and Production Public Company Ltd (PTTEP).

The contract is to provide downhole heating technology complete with equipment and services.

Handal Energy has secured a contract from Carigali Hess Operating Company Sdn Bhd to provide crane inspection and maintenance services.

On the outlook for Bursa Malaysia, it said the FBM KLCI could pull back from its recent gains and hover sideways below the resistance of 1,550 following the negative performance on Wall Street.

US markets dropped overnight after coronavirus stimulus talks stalled and due to issues in the Covid-19 vaccine developments.

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