Trading ideas: Pansar, Apex, Citaglobal, Crest Builder, Axiata, Pavilion REIT, Bintai Kinden, Willowglen

KUALA LUMPUR: Stocks to watch on today include Pansar Bhd, Apex Healthcare Bhd, Citaglobal Bhd, Crest Builder Holdings Bhd, Axiata Group Bhd, Pavilion REIT, Bintai Kinden Corp Bhd and Willowglen MSC Bhd.

Pansar has secured a contract for road construction works in Sarawak valued at RM107.5mil. Its unit Perbena Emas Sdn Bhd received the contract from Jabatan Kerja Raya Sarawak.

Apex has proposed to acquire industrial land in Melaka for RM66.5mil from Panasonic Appliances Refrigeration Devices Malaysia Sdn Bhd (PAPRDMY).

Citaglobal has together with its consortium partner TIZA Global Sdn Bhd, executed a 40:60 joint development agreement with clean energy player Abu Dhabi Future Energy Company PJSC (Masdar) for a two-gigawatt solar farm project in Pahang for US$2bil (RM9.75bil).

Crest Builder has acquired the remaining 49% equity interest in its indirect subsidiary Unitapah Sdn Bhd for RM43.61mil, cash.

Axiata is selling its stake in Ncell Axiata Bhd by disposing of its shares in Reynolds Holdings Ltd, which holds an 80% stake in Ncell Axiata, and exiting the country.

CelcomDigi Bhd, Maxis Bhd, Telekom Malaysia Bhd, YTL Power International Bhd and U Mobile Sdn Bhd will take up the equity stakes in the government-owned 5G network infrastructure outfit.

Pavilion Real Estate Investment Trust (Pavilion REIT) has terminated two memoranda of understanding (MOUs) it inked for the purchase of renewable energy (RE) from a solar power plant in Pasir Mas, Kelantan, under the Corporate Green Power Programme (CGPP) to power its malls.

Bintai Kinden has proposed to undertake a private placement of up to 281.54 million shares, or 30% of its issued share capital, to third-party investors who have yet to be identified.

Willowglen has secured a RM12.75mil contract from Singapore-based SP PowerAssets Ltd for the installation and maintenance of substation intrusion detection system for three years.

Meanwhile, US stocks moved mostly higher over the course of the trading session on Friday.

The Dow Jones Industrial Average jumped 294.61 points or 0.8% to 36,245.50, closing high for the fourth straight session, the S&P 500 advanced 26.83 points or 0.6% to 4,594.63 and the Nasdaq climbed 78.81 points or 0.6% to 14,305.03.

Apex Securities said the recent US economics data highlights a robust economy coupled with a concurrent decrease in inflation, possibility that the Federal Reserve might contemplate initiating interest rate cuts sooner than initially anticipated.

Powell himself has recognised the possibility of implementing rate cuts before the Federal Reserve reaches their 2% inflation target, aiming to avert any unwarranted economic downturn.

“Back home, the FBM KLCI is likely to trend upwards supported by the favorable momentum observed in the US market, coupled with year-end window dressing activities.

“Meanwhile, we suggest directing attention towards gold-related stocks, given that gold prices have hit seven-months high at US$2,072/oz,” Apex said.

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