Trading ideas: Sime Darby, Pentamaster, Perdana Petroleum, Hibiscus Petroleum and AEON Credit Service


KUALA LUMPUR: Stocks that could see increased investor interest on Tuesday include Sime Darby, Pentamaster, Perdana Petroleum, Hibiscus Petroleum and Aeon Credit Service, said JF Apex Research.

Sime Darby Bhd is selling Weifang Port companies in China for RM1.27bil, with an indicative sum of RM357mil as repayment of shareholder loans.

Pentamaster Corp Bhd has subscribed for a 29.9% stake, in the enlarged capital of Taiwan-based Everready Precision Industrial Corp for RM29.89mil.

Perdana Petroleum Bhd received a contract extension from Petronas Carigali Sdn Bhd worth RM8.4mil for the provision of one anchor handling tug & supply vessel.

Hibiscus Petroleum Bhd has signed a farmout agreement for 80% interest and operatorship in an exploration permit offshore Australia to ConocoPhillips Australia for RM13.24mil upfront and well costs of US$35mil.

AEON Credit Service (M) Bhd's revenue dropped 5% to RM390.57mil for the first quarter ended May 31, 2022.

Meanwhile, JF Apex said the FBM KLCI could remain flat above the support of 1,425 points following the recent sideways movement.

The US market was closed for the Independence Day public holiday.

Meanwhile, European stocks rose following gains in oil and gas counters.

"Investors will be monitoring central banks announcements this week with the Bank of England publishing its Financial Stability Report tomorrow, the US Federal Reserve's minutes of meeting on Wednesday and European Central Bank accounts on its latest monetary policy meeting on Thursday," it added.

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