Trading ideas: Serba Dinamik, PetGas, Annum, Southern Cable, Cabnet

KUALA LUMPUR: Serba Dinamik Holdings Bhd, Petronas Gas Bhd, Annum Bhd, Southern Cable Group Bhd and Cabnet Holdings Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Serba Dinamik has denied that its directors had been given a “factual findings update” by Ernst & Young (EY), which is undertaking the special independent review of the group's financial accounts. Serba Dinamik said EY was still in the midst of performing the review.

Petronas Gas's 65%-owned subsidiary Pengerang LNG (Two) Sdn Bhd (PLNG2SB) has announced a non-binding expression of interest (EOI) for a proposed liquefied natural gas (LNG) storage tank in Pengerang, Johor to be used for LNG storage and reloading activities.

Annum has teamed up with Greentech IOT Technology Sdn Bhd to undertake a RM62.25mil subcontract under the Sarawak Water Supply Grid Programme.

Southern Cable is slated to transfer its listing to the Main Market of Bursa Malaysia on Thursday (Oct 28).

Cabnet has been appointed as a works package contractor for the electrical work package for a factory in Kedah for a contract sum of RM22.62mil.

Newly-appointed Malaysia Airports Holdings Bhd managing director Datuk Iskandar Mizal Mahmood has resigned as Theta Edge’s independent non-executive director.

Samaiden plans to raise up to RM34.02mil via a private placement to fund its investment in renewable energy assets.

Straits Energy has proposed a private placement to raise up to RM33.63mil, over half of which it plans to use to acquire a shipping agency service provider to expand its port operation and facility management services.

Heng Huat, which is involved in the manufacturing and trading of biomass material, has announced the proposed diversification into property development and a series of acquisitions.

Meanwhile, the US market rose overnight with the Dow and S&P hitting record highs following strong quarterly earnings led by technology counters.

Earlier, European stocks also advanced amid corporate results, lower German business climate and higher inflation.

“After the recent rally, the index is taking a breather and consolidating below the resistance of 1,610 points,” JF Apex said.

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Serba Dinamik , PetGas , Annum


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