Trading ideas: Cahya Mata Sarawak, Powerwell Holdings, Dynaciate, Jentayu Sustainables and Caely

KUALA LUMPUR: Stocks to watch for on Wednesday include Cahya Mata Sarawak, Powerwell Holdings, Dynaciate, Jentayu Sustainables and Caely, said JF Apex Research.

Cahya Mata Sarawak Bhd (CMS) is selling of its entire 25% stakes in OM Material (Sarawak) Sdn Bhd and OM Materials (Samalaju) Sdn Bhd to OM Materials (S) Pte Ltd (OMS) for RM526.62mil cash.

Powerwell Holdings Bhd has secured a supply contract worth RM94.12mil for a new building project in Kulim Hi-Tech Park, Kedah.

Dynaciate Group Bhd has proposed to buy a piece of freehold industrial land measuring 23,550 sqm in Bentong, Pahang from KPower Bhd for RM12mil cash.

Jentayu Sustainables Bhd has proposed a private placement to raise as much as RM47.07mil, mainly to finance the group's pre-development expenditures.

Caely Holdings Bhd has appointed fashion designer Datuk Jovian Mandagie, the son-in-law of Prime Minister Datuk Seri Ismail Sabri Yaakob, as its new executive vice chairman.

Meanwhile, JF Apex said the FBM KLCI could consolidate above the support of 1,450 following the previous session's rebound.

The US market ended flat as investors prepare for a rate hike after the Federal Reserve's policy meeting later today.

Earlier, European stocks declined in anticipation of central banks moving into monetary policy tightening to combat rising inflation.

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