Trading ideas: Hextar, Kejuruteraan Asastera, Favelle Favco, Sapura Energy

KUALA LUMPUR: Hextar Global Bhd, Kejuruteraan Asastera Bhd, Favelle Favco Bhd, Sapura Energy Bhd, Axis Real Estate Investment Trust, AirAsia Group Bhd and Poh Huat Resources Holdings Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Hextar Global has entered into a consortium agreement with DNeX major shareholder Arcadia Acres Sdn Bhd besides Fass Payment Solutions Sdn Bhd's special purpose vehicle Ihsan Equity Sdn Bhd to establish a Syariah-compliant digital bank.

Kejuruteraan Asastera has entered into a binding term sheet with Vodex Technical Services Sdn Bhd to expand its mechanical work division.

Favelle Favco has secured purchase orders for offshore cranes, tower cranes, compressor system manpower, upgrade work and solar system with a combined value of RM121.1mil.

Sapura Energy has secured seven contract wins and extensions in Malaysia and Thailand for its engineering and construction (E&C), operations and maintenance (O&M), and drilling segments with a combined value of RM1.2bil.

Axis REIT announced a 9.27% year-on-year increase in its net property income (NPI) for its 2QFY21 on higher property income with an expanded property portfolio.

Inix has proposed to undertake a private placement of 46.66 million new shares in the company to diversify into the glove business.

AirAsia is seeking an extension from Bursa Malaysia to complete the private placement of 198.18 million shares that it has yet to issue.

Poh Huat has temporarily halted the operations of its main subsidiary in Vietnam in compliance with the Vietnamese government's orders to close non-essential businesses to contain the spread of the Covid-19 virus in the nation.

Meanwhile, the US market rose overnight to extend its rebound and erase its losses from Monday's selldown amid corporate earnings beating expectations.

Similarly, European stocks ended higher as better-than-expected quarterly results overshadowed coronavirus fears.

“Following the recent sluggish performance and lack of catalyst, the FBM KLCI is expected to remain sideways above the support of 1,500 points,” JF Apex said.

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