Trading ideas: Able Global, Computer Forms, WTK, EA Technique and Toyo ventures

KUALA LUMPUR: Investors could have their sights on Able Global, Computer Forms, WTK, EA Technique and Toyo ventures, said Apex Research.

Able Global Bhd plans to sell its 23.538-acre piece of land in Kuala Langat, Selangor for RM18.45 million in a related party transaction.

Computer Forms (Malaysia) Bhd's (CFM) board of directors said it was unaware of the reason behind the recent sharp decline in its share price.

WTK Holdings Bhd is acquiring a second frozen food company for RM2.8 million to "create synergies" with the existing frozen food business.

EA Technique (M) Bhd is planning to sell a marine vessel to United Arab Emirates-based Alpha Metallum DMCC for RM23.52 million.

Toyo Ventures Holdings Bhd has signed an agreement for the operations and maintenance of an upcoming US$2.42 billion coal-fired power plant in Vietnam with an annual contract price of US$86 million (RM388.81 million).

Meanwhile, Apex said the FBM KLCI could trend lower towards the support of 1,438 points following the bearish performance on Wall Street, which could overshadow Bank Negara's decision to keep the overnight policy rate at 2.75%.

The US market plunged overnight led by declines in banking stocks after the Federal Reserve hinted higher-than-expected interest rate hikes.

Earlier, European stocks closed slightly lower amid uncertainty over the US Federal Reserve’s next move.

Investors will be watching today’s nonfarm payroll to gauge the Fed’s next rate hike.

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