Trading ideas: Chin Hin, ITMAX, United Malacca, Boustead Plantations, CTOS

KUALA LUMPUR: Chin Hin Group Bhd, ITMax System Bhd, United Malacca Bhd, Boustead Plantations Bhd, CTOS Digital Bhd and LFE Corp Bhd are among the stocks to watch today, according to Apex Securities.

Chin Hin said it will be making a mandatory general offer for the remaining shares in Ajiya Bhd at RM1.53 per share, but intends to maintain Ajiya's listing status.

ITMAX has bagged a RM111.2mil contract from the Iskandar Puteri City Council to provide video surveillance and smart traffic light system services in Iskandar Puteri, Johor.

United Malacca saw its net profit for the first financial quarter ended July 31, 2023 fall 89% to RM2.68mil.

The cut-off date for the proposed disposal of a 33% stake in Boustead Plantations by the Armed Forces Fund Board (LTAT) has been extended for the second time.

CTOS Digital subsidiaries have entered into recurrent related party transactions (RRPTs) of a revenue or trading nature for an aggregated value of RM4.06mil.

LFE has entered into a conditional share agreement with Patrick Heng Jin Wei to buy 100,000 shares representing the remaining 40% equity of LFE Development Sdn Bhd (LDSB) for RM3.5mil cash.

Apex said the FBM KLCI has recently been moving in a consolidation pattern after breaking above the previous resistance of 1,433 points.

Also, the index has breached above the downtrend channel and creating a possible ascending triangle pattern.

“Going forward, the KLCI could move further to test the resistance of 1,481 points, if the index maintains above the moving averages,” Apex said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

CPO futures likely to trade lower on profit-taking next week
Oil notches weekly gains ahead of Opec+ decision
Hektar-REIT focuses on strengthening portfolio
Timber furniture sales cool as demand softens in US, Europe
Fading population dividend
CTOS eyes new overseas markets to drive growth
Big wins for billionaire Ambani in Disney tie-up
HAS inks deal for five new Airbus helicopters
Positive outlook for luxury condo market
China quants making big cap bets weather turmoil

Others Also Read