Trading ideas: Gamuda, Litrak, Serba Dinamik, Magna Prima, Ranhill Utilities


KUALA LUMPUR: JF Apex Research expects Gamuda Bhd, Lingkaran Trans Kota Holdings Bhd (Litrak), Serba Dinamik Holdings Bhd, Magna Prima Bhd, Ranhill Utilities Bhd and SCOMI GROUP BHD to be among the stocks to watch today.

Gamuda Bhd finalised the terms and conditions of a draft share sale and purchase agreement for its four toll concessions for an aggregate RM4.477bil, with Gamuda’s portion amounting to RM2.347bil.

Litrak will distribute RM2.71bil or RM5.08 per share of proceeds it is expected to receive from the sale of its toll concession and does not intend to maintain its listing status.

Serba Dinamik’s creditors have agreed to stay their applications for winding-up proceedings and the appointment of an interim liquidator.

Magna Prima’s shareholders have refused to approve the directors’ fees up to RM200,000 during the group’s annual general meeting.

Ranhill has secured a contract to upgrade an industrial effluent treatment plant for MSM Sugar Refinery Sdn Bhd in Johor, with the group saying the RM6.1mil project.

Scomi Group has accepted a settlement proposal with Malayan Banking Bhd (Maybank) for RM8mil.

Meanwhile, JF Apex said the US market declined overnight after the 10-year Treasury yield surged to 3% and oil prices climbed above US$120 per barrel.

Similarly, European stocks also dropped before the European Central Bank's monetary policy decision later today.

“Following the bearish momentum, the FBM KLCI could remain pressured with support at 1,515 points,” it said.

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Gamuda , Litrak , Serba Dinamik , Magna Prima

   

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