Trading ideas: Reservoir Link Energy, Widad, Transocean

KUALA LUMPUR: Stocks to watch for on Thursday include Reservoir Link Energy, Widad, Transocean, Teladan Setia, Barakah, CN Asia, Homeritz and Niche Capital Emas, said JF Apex Research in its daily highlights report.

Reservoir Link Energy said it has been appointed one of the panel umbrella contractors by Petroliam Nasional Bhd (Petronas) to provide new technology equipment and services.

Widad has proposed the acquisition of a firm for RM35mil cash, which will expand the group's integrated facilities management service offerings into the defence industry.

Transocean is buying a 40% stake in Enfrasys Solutions Sdn Bhd from Enfrasys Consulting Sdn Bhd for RM20mil.

The logistics company said the purchase consideration will be settled via issue of new shares at RM1 per share.

Teladan Setia said it is acquiring three parcels of land measuring a combined 210ha (520 acres) in Jasin, Melaka for RM95.1mil, to develop affordable houses priced between RM200,000 and RM400,000.

Barakah has proposed to undertake a private placement of up to 167.16 million new shares, equivalent to 20% of its existing issued shares, to raise RM14.29mil for its working capital, payment of salaries to staff as well as operating and administrative expenses.

CN Asia proposed a three-for-two bonus issue of shares.

Homeritz is temporarily stopping the operations of its manufacturing plant in Kawasan Perindustrian Bukit Bakri, Muar, Johor for seven days, beginning April 13, after several of its workers there tested positive for Covid-19.

Niche Capital Emas is planning to venture into the gold mining business.

The company told Bursa Malaysia on that it has entered into a Joint Venture Agreement (JVA) with Spate Precious Metals Sdn Bhd to undertake a gold mining project in Tanah Merah, Kelantan.
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