Trading ideas: Parkson, Destini, Oriental, CME, HeiTech Padu and Techna-X


KUALA LUMPUR: Stocks to watch for on Monday include Parkson, Destini, Oriental, CME, HeiTech Padu and Techna-X, said JF Apex Research.

Parkson Holdings Bhd as it is selling commercial properties with an aggregate construction area of 76,013 square metres in Qingdao, China for RM182 million.

Destini Bhd has bagged another maintenance, repair and overhaul (MRO) contract worth RM163.61 million from the Ministry of Transport.

Oriental Holdings Bhd (OHB) will be investing RM150 million to build a new hospital in Johor.

CME Group Bhd has secured a RM145.8 million contract to supply 150 units of compact fire rescue tender (CFRT) to the Fire and Rescue Department for 72 months.

Heitech Padu Bhd has won a RM66.84 million contract from the Ministry of Defence (Mindef).

Techna-X Bhd is issuing 37.09 million new shares to pay off RM1.02 million owed by the company to an individual, Chan Kok San, at 2.75 sen per share.

Meanwhile, JF Apex said the FBM KLCI could stage a rebound towards the 1,500-point psychological level following the positive vibe on Wall Street.

The US market rallied on Friday to end a three-week losing streak as investors expect the Federal Reserve to hike interest rates by another 75 basis points this month.

In Europe, stocks rose after the European Central Bank raised interest rates by 75 basis points.

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