Trading ideas: Yinson, Ahmad Zaki, AWC, UEM Sunrise

KUALA LUMPUR: Yinson Holdings Bhd, Ahmad Zaki Resources Bhd (AZRB), AWC Bhd and UEM Sunrise Bhd are among the stocks to watch on Wednesday according to Apex Securities Bhd.

Yinson’s offshore production unit Yinson Production (YP), via its joint-venture company PTSC South East Asia (PTSC SEA), has received a five-year extension for the bareboat charter contract for FSO PTSC Bien Dong 01 in Vietnam.

AZRB won a RM122.5mil contract from the government for the Cameron Highlands road plan and bypass project to commence on June 15, 2023.

AWC bagged four light rail transit (LRT)-related contracts in the Klang Valley from Prasarana Malaysia Bhd worth a total of RM51.99mil.

UEM Sunrise is buying a 3.7-hectare freehold land in Kelana Jaya adjacent to the Damansara-Puchong Expressway (LDP) from the Employees Provident Fund (EPF) for RM155mil.

Overnight, the US market edged slightly higher to extend its recent positive momentum as investors anticipate the trade balance data later today. Similarly, European markets rose as oil prices declined.

The Dow Jones Industrial Average finished 0.03% higher to end at 33,573.28 while Nasdaq and S&P 500 added 0.36% and 0.24% to close at 13,276.42 and 4,283.85.

“Following the recent lacklustre performance, the FBM KLCI could trend sideways above its support of 1,372 points,” Apex said.

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Yinson , Ahmad Zaki , AWC , UEM Sunrise


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