Trading ideas: Tek Seng, Signature International, Pestech, Deleum and Infomina

KUALA LUMPUR: Recent corporate developments could spark trading interest in Tek Seng, Signature International, Pestech, Deleum and Infomina, said Apex Research.

Tek Seng Holdings Bhd is buying three parcels of freehold vacant land near its factories in Seberang Perai, Penang for RM33.96 million.

Signature International Bhd is purchasing a 45% stake in home furnishing company Zig Zag Builders (M) Sdn Bhd for RM13.05 million.

Pestech International Bhd secured an engineering, procurement, construction and commissioning contract worth up to RM6.61 million.

Deleum Bhd was reappointed by ExxonMobil to provide slickline equipment and services for another four years.

Infomina Bhd has been appointed by the Companies Commission of Malaysia (SSM) to provide a platform for the public to search, extract and purchase data.

Meanwhile, Apex said the FBM KLCI could remain sideways below the resistance of 1,431 points following the negative performance on Wall Street.

The US market was mixed overnight with the Dow edging higher while the S&P and Nasdaq declined after slower jobs growth in March.

Similarly, European stocks declined for a third straight day after US economic data showed signs of a slowdown.

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