Trading ideas: TMC, Borneo Aqua Harvest, Tenaga

KUALA  LUMPUR:  JF Apex Research expects TMC Life Science, Borneo Aqua Harvest and Tenaga Nasional to see trading interest on Wednesday following the fresh corporate news.

The research house said TMC Life Science denied that its major shareholder Peter Lim was planning to inject his own healthcare assets in Malaysia and Singapore into the company.

As for Borneo Aqua Harvest, it was reprimanded by Bursa Securities after it failed to establish an independent audit functions and the company’s representations in annual reports were inaccurate.

JF Apex Research pointed out Tenaga Nasional and 1MDB signed an MoU with Bangladesh Power Development Bhd to build a 1,320MW coal-fired power plant in Bangladesh.

Overnight on Wall Street, US stocks fell with the S&P 500 and Nasdaq falling for a third day to close at five-week lows, as investors weighed data illustrating a slowing global economy and tracked conflict in the Middle East.

At Bursa Malaysia, the FBM KLCI fell 5.86 points to close  at 1,840.19.

“Asian stocks are expected to decline today, tracking losses in US and European markets overnight, on global growth concerns.

“We expect the KLCI to be negative today and could test its support level of 1,835,” it said.

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