Trading ideas: Bumi Armada, UCrest, Scomi Group

KUALA LUMPUR: Stocks to watch on Thursday include Bumi Armada Bhd, Ucrest Bhd, SCOMI GROUP BHD, Kuala Lumpur Kepong Bhd (KLK) and Allianz Malaysia, according to JF Apex Research.

Bumi Armada's 49%-owned joint venture company entered into a licence agreement with the Board of Trustees for the Port of Mumbai for a floating storage and regasification unit project.

UCrest said it has inked an agreement with two contract manufacturers in China and secured the capacity to produce Sputnik V vaccines.

Loss-making Scomi Group has inked a joint venture agreement with Zuha Systems Sdn Bhd to jointly explore opportunities in the rail industry.

JF Apex noted that KLK, TSH Resources, Aeon, Wah Seong recorded better year-on-year quarterly results.

On the other hand, SunReit, Tropicana, Maybulk, Magnum, Dialog, Malakoff, Allianz Malaysia posted weaker year-on-year quarterly results.

Meanwhile, the US market fell for a third straight day after the Federal Reserve's minutes of meeting suggested possible tapering of asset purchase in the future.

Similarly, European stocks tumbled on fears of inflation after the UK's consumer prices more than doubled in April.

“Following the negative performances in the US and Europe, the FBM KLCI could decline towards the support of 1,560 points,” JF Apex said.

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Bumi Armada , UCrest , Scomi Group


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