Trading ideas: Ideal United Bintang International, Heitech Padu, Hengyuan Refining Company, VS Industry and Sime Darby Property


KUALA LUMPUR: Stocks that could be under the spotlight on Thursday include Ideal United Bintang International, Heitech Padu, Hengyuan Refining Company, VS Industry and Sime Darby Property, said JF Apex Research.

Ideal United Bintang International Bhd as it is planning to buy 17 parcels of freehold land in Penang for a total of RM475.36mil cash.

Heitech Padu Bhd won a 5-year contract worth RM43.8mil to install wide area networks infrastructure services for PNB and ASNB.

Hengyuan Refining Company Bhd is planning to establish an RM5bil unrated medium-term notes programme.

VS Industry Bhd said the independent review on its labour practices by PwC Consulting and a labour rights consultant has found no evidence of systemic forced labour practices.

Sime Darby Property Bhd said the Battersea Power Station has reached practical completion of the Grade II listed Power Station after eight years of transformational restoration.

Meanwhile, JF Apex said the FBM KLCI could decline towards the support of 1,400 points following Bank Negara's decision to raise the interest rate.

The US market ended slightly higher after the Federal Reserve released its minutes of meeting indicating another potential rate hike of 50 to 70 basis points later this month.

Earlier, European stocks surged led by retail stocks to rebound from the recent slide. Investors will be looking towards the US' June jobs data on Friday.

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