Trading ideas: PLS Plantations, Binasat Communications, KAB, Revenue

KUALA LUMPUR: Stocks in focus include PLS Plantations, Binasat Communications, KAB, Revenue, said Apex Research.

PLS Plantations Bhd and Japan’s Millennium Agriculture Technology Sdn Bhd (MAT) and MyFarm Inc have signed a Heads of Agreement to negotiate further the launch of large-scale durian cultivation in Malaysia, under a joint venture (JV) vehicle valued at RM371 million.

Binasat Communications Bhd’s 51%-owned subsidiary Borderless Connection Sdn Bhd has bagged two subcontracts worth RM16.31 million to undertake underground cable-related works in Penang.

Kejuruteraan Asastera Bhd (KAB) is buying Future Biomass Gasification Sdn Bhd (FBG) and its biogas power plant asset for RM15 million.

Revenue Group Bhd's founding brothers Brian Ng Shih Chiow and Dino Ng Shih Fang, who were suspended from their executive director functions less than two weeks ago pending an investigation are calling for an EGM to remove its current board of directors.

Meanwhile, Apex said the FBM KLCi could retest the resistance of 1,500 points following the positive performance on Wall Street.

The US market rose overnight to extend its gains as investors monitor the current corporate results season.

Similarly, European stocks advanced as the World Economic Forum kicks off in Switzerland this week.