Trading ideas: Ipmuda, Ocean Vantage, Mega First

KUALA LUMPUR: Stocks to watch on Thursday include Ipmuda Bhd, Ocean Vantage Holdings Bhd and Mega First Corp Bhd, according to JF Apex Research.

Ipmuda Holdings is planning to diversify into the renewable energy (RE) and healthcare sectors in order to diversify itself from its trading segment which accounted for 99.4% of its revenue in the financial year ended June 30, 2020 (FY20).

Under the RE segment, Ipmuda’s plans include the ownership, development, maintenance, operations, design and construction of power plants which generate power and electricity using sustainable and renewable energy sources.

Ocean Vantage has won a contract worth RM29.56mil contract for works in relation to a solar farm in Manjung, Perak.

Mega First Corp said its 80% subsidiary Don Sahon Power Company Ltd (DSPC) has received a certificate from the government of Laos confirming that the Don Sahong hydropower project has commenced commercial operations on Oct 1.

Meanwhile, US markets rose overnight as investors waited for the results of the US presidential election.

The Dow rose 370 points and the S&P 500 pushed 2.2% higher.

Similarly, European stocks climbed while markets awaited the outcome of the US election with Joe Biden leading the race.

“Following the positive performance in Wall Street, the FBM KLCI could extend its rebound with support at 1455 points,” JF Apex said.

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Ipmuda , Ocean Vantage , Mega First


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