Trading ideas: WZ Satu, Eversendai, Borneo Oil, Century Logistics
WZSATU (7245), SENDAI (5205), BORNOIL (7036), CENTURY (7117)
KUALA LUMPUR: WZ Satu,Eversendai, Borneo Oil and Century Logistics are among the companies which could see trading interest on Tuesday amid a very weak trading environment.
JF Apex Research said US stocks fell sharply overnight with the S&P 500 extending losses into a fourth session, as energy companies took it on the chin as the price of oil fell to its lowest since April 2009.
European shares also closed sharply lower as concerns over the health of the euro zone resurfaced and oil prices fell below a 2009 low.
At Bursa Malaysia, the FBM KLCI dropped 16.15 points to close at 1,736.62.
“Following the bearish performance in the US, we expect the KLCI to be negative today and likely to break its immediate support of 1,730 and move towards 1,700,” it said.
JF Apex Research said the stocks to watch include WZ Satu, after the group’s head of agreement to acquire oil and gas support services provider UBF Maintenance Sdn Bhd for RM79mil lapsed.
Eversendai won a contract worth RM44mil for the structural and steel works of the Nas Indoor Futsal and Volleyball Arena in Dubai.
Borneo Oil was been appointed by Jusra Mining Merapoh Sdn Bhd (JMM) to carry out gold mining in an area measuring 202.8 ha in Sungai Serumbum, Pahang.
Meanwhile, Century Logistics reported that its main shareholders Datuk Phua Sin Mo, Teow Choo Hing and Teow Choo Chuan are not selling their stakes in the company.
The company had conducted a due inquiry with these major shareholders and described a news report that they were looking to sell their equity interests was “completely untrue”.
http://www.thestar.com.my
WZSATU (7245), SENDAI (5205), BORNOIL (7036), CENTURY (7117)
KUALA LUMPUR: WZ Satu,Eversendai, Borneo Oil and Century Logistics are among the companies which could see trading interest on Tuesday amid a very weak trading environment.
JF Apex Research said US stocks fell sharply overnight with the S&P 500 extending losses into a fourth session, as energy companies took it on the chin as the price of oil fell to its lowest since April 2009.
European shares also closed sharply lower as concerns over the health of the euro zone resurfaced and oil prices fell below a 2009 low.
At Bursa Malaysia, the FBM KLCI dropped 16.15 points to close at 1,736.62.
“Following the bearish performance in the US, we expect the KLCI to be negative today and likely to break its immediate support of 1,730 and move towards 1,700,” it said.
JF Apex Research said the stocks to watch include WZ Satu, after the group’s head of agreement to acquire oil and gas support services provider UBF Maintenance Sdn Bhd for RM79mil lapsed.
Eversendai won a contract worth RM44mil for the structural and steel works of the Nas Indoor Futsal and Volleyball Arena in Dubai.
Borneo Oil was been appointed by Jusra Mining Merapoh Sdn Bhd (JMM) to carry out gold mining in an area measuring 202.8 ha in Sungai Serumbum, Pahang.
Meanwhile, Century Logistics reported that its main shareholders Datuk Phua Sin Mo, Teow Choo Hing and Teow Choo Chuan are not selling their stakes in the company.
The company had conducted a due inquiry with these major shareholders and described a news report that they were looking to sell their equity interests was “completely untrue”.
http://www.thestar.com.my
