Trading ideas: Sime Darby, EcoFirst, Seremban Engineering, KTB, Axis-REIT, BHIC

KUALA LUMPUR: Apex Securities expects Sime Darby Bhd, Mulpha International Bhd, AME Real Estate Investment Trust (REIT), Ecofirst Consolidated Bhd, Seremban Engineering Bhd, Axis Real Estate Investment Trust (REIT) and Boustead Heavy Industries Corporation Bhd (BHIC) to be among the stocks to watch on Monday.

Sime Darby has agreed to sell a 1,282-acre land parcel in Neger Sembilan for RM445mil.

Mulpha has received an unconditional voluntary takeover offer at RM2.30 a share.

Tan Sri Quek Leng Chan, has emerged as a substantial unitholder in AME Real Estate Investment Trust (REIT) after acquiring 29.1 million units in the REIT over two days.

Salcon has been awarded Package 3 for the design and construction of a residual conveyance and disposal system for the Langat 2 water treatment plant.

EcoFirst has proposed to acquire the remaining 49% stake in a subsidiary that owns 4.18 acres of land in Sungai Besi for RM78.4mil.

Seremban Engineering Bhd secured a subcontract work worth RM72mil to supply, fabricate, and install steel structures for a factory project in Seremban.

Konsortium Transnasional Bhd (KTB) has won a RM41.01mil contract for earthworks and building, internal and major infrastructure works for a Perumahan Rakyat 1Malaysia (PR1MA) Pahang.

Axis-REIT is buying an industrial facility located in Kapar, Klang for RM41mil cash.

BHIC is selling a piece of land in Kota Kinabalu, Sabah for RM18.8mil in cash.

APB Resources Bhd has secured a purchase orders contract worth RM11.8mil that entails mechanical engineering, and procurement and construction of pressure vessels and heat exchangers.

Meanwhile, the US market tumbled on Friday to its lowest in 2022 following higher interest rates and heightened recession fears.

Similarly, European stocks declined sharply after rate hikes by central banks in the US, UK and Switzerland.

“Following the bearish performance in global markets, the FBM KLCI can extend its selldown towards the support of 1,400 points,” Apex said.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Tiong Nam sees higher demand for for logistics, warehousing services in FY23
Leong Hup returns to the black, 3Q net profit at RM67.31mil
Malakoff 3Q net profit jumps 53.4% to RM66.5mil
IHH 3Q profit falls to RM252mil on exceptional items, financial reporting adjustments
Ringgit reverses gains against US dollar on profit-taking
Boustead net profit jumps to RM99.6mil in 3Q
Press Metal 3Q net profit grows 11.5% to RM315.8mil
Genting Malaysia misses Macau licence
Celcom 3Q22 Patami up 65.3% at RM856mil
Kerjaya Prospek's construction segment to drive revenue growth

Others Also Read