Trading ideas: Gamuda, Litrak, Hextar Industries, KSL, Stella, EonMetall, Scomi Energy Services and Teladan Setia


KUALA LUMPUR: Stocks with reent corporate announcements that could see buying interest on Tuesday include Gamuda, Litrak, Hextar Industries, KSL, Stella, EonMetall, Scomi Energy Services and Teladan Setia, said JF Apex Research.

Gamuda Bhd and Lingkaran Trans Kota Holdings Bhd (Litrak) have given the nod for the disposal of four Klang Valley highway concession holding companies for RM4.477billion.

Hextar Industries Bhd is buying a 100% stake in a fertiliser manufacturing business from its major shareholder Hextar Holdings Sdn Bhd for RM480 million with an issuance of new shares.

KSL Holdings Bhd said it is buying 84 acres of land in Johor Bahru from Tropicana Corp Bhd for RM109.89 million.

Stella Holdings Bhd has received a RM33.88 million contract to improve the water distribution system in Johor from Pengurusan Aset Air Bhd.

Eonmetall Group Bhd plans to dispose of its 51% stake in glove company Lienteh Technology Bhd for RM35.7 million.

Scomi Energy Services Bhd’s shareholders have approved the disposal of its oilfield services business division for RM21 million.

Teladan Setia Group Bhd, whose share price climbed to a record high last Friday, told Bursa Malaysia that it is not aware of any corporate development that would have caused the unusual market activity.

Meanwhile, JF Apex said the FBM KLCI coul continue to hover below the resistance of 1,510 points following the recent pullback.

The US market was flat overnight as investors anticipate tomorrow's July inflation data and several quarterly results.

Earlier, European stocks rose as investors monitor corporate earnings and economic data for signs of recession.

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