Trading ideas: EcoFirst, CHGP, Westports, Axis-REIT, YTL Power, Central Global, Mah Sing, MSM, Apex Equity


KUALA LUMPUR: Stocks to watch on Monday include Ecofirst Consolidated Bhd, Chin Hin Group Property Bhd (CHGP), Westports Holdings Bhd, Axis Real Estate Investment Trust (Axis-REIT), YTL Power International Bhd, Central Global Bhd, Mah Sing Group Bhd, MSM Malaysia Holdings Bhd and Apex Equity Holdings Bhd.

EcoFirst, which is facing a RM20mil lawsuit for withdrawing a RM404.35mil contract it had issued to Kerjaya Prospek Group Bhd, said the group will be contesting the matter.

CHGP is acquiring a freehold plot in Penang measuring about 1.218 acres from Ivory Properties Group Bhd for RM40mil to build a multi-storey serviced residence.

Westports has secured a 58-year extension until 2082 to its concession agreement with the government.

Axis-REIT has proposed to acquire a two-storey shopping mall in Temerloh, Pahang, for RM25.75mil cash.

YTL Power International Bhd has confirmed that it is going to collaborate with Nvidia Corp to build an artificial intelligence (AI) infrastructure that will be powered by the US-based chip giant’s technology, with the first phase of the data centre expected to commence operations by the middle of next year.

Central Global has proposed to split each of its shares into four shares in a move to reward its shareholders and improve the trading liquidity of the shares and also plans to issue up to 275.17 million free warrants (Warrants B) on the basis of one warrant for every three split shares held.

Aeon Credit Service (M) Bhd said it has fully redeemed its RM100mil sukuk in nominal value that was callable on Friday.

Mah Sing Group Bhd has acquired a four-acre land with a total land cost of RM74.3mil in Mukim Setapak, Kuala Lumpur.

MSM Malaysia has extended the garden leave of its chief financial officer (CFO) Dr Mazatul 'Aini Shahar Abdul Malek Shahar by one month.

Apex Equity said the Securities Commission Malaysia (SC) has withdrawn all “additional conditions and reporting requirements” that it imposed on the group's stockbroking arm Apex Securities Bhd, with immediate effect.

Meanwhile, US stock indexes closed higher on Friday. The Dow Jones Industrial Average rose 130.49 points or 0.4% to 36,247.87, the Nasdaq advanced 63.98 points or 0.5% to 14,403.97 and the S&P 500 climbed 18.78 points or 0.4% to 4,604.37.

Apex Securities anticipates the FBM KLCI to stage a rebound for today, taking cue from the positive sentiment spillover from the US market after stronger-than-expected job data.

“Investors will be looking ahead to this week’s Fed interest decision. We expect to see some trading opportunities in the construction sector after Sultan Ibrahim expresses hope for HSR to be revived.

“Meanwhile, we expect bargain hunting activities to emerge within the plantation and energy sector following the relief in both crude oil and palm oil prices,” it said.

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