Trading ideas: Inari, Sime Darby, Hubline, Tadmax

KUALA LUMPUR: INARI AMERTRON BHD, Sime Darby Bhd, Hubline Bhd, Tadmax Resources Bhd and Icon Offshore are among the stocks to watch on Thursday, according to JF Apex Research.

Inari Amertron has signed an agreement with PCL Technologies Inc to set up a joint-venture to secure, manage and manufacture optical transceivers and other related products in Penang.

Sime Darby said it is acquiring three Sydney, Australia luxury car dealerships representing the BMW, MINI, Volkswagen, Jaguar and Land Rover marques for A$112mil (RM321mil) to strengthen its presence in the automotive market there.

Hubline is acquiring a 75% stake in property investment company Absolute Privilege Sdn Bhd for RM16.37 million to secure tenancy for its dry bulk operations.

Tadmax has received Government approval to proceed with the development of a 1,000-1,200 MW combined cycle gas and turbine power plant in Pulau Indah.

Icon Offshore’s subsidiary has bagged an RM25.6mil contract from Petronas Carigali Sdn Bhd to supply one anchor handling tug and supply vessel for the petroleum arrangement contractor’s production operations.

Meanwhile, US markets rose overnight with gains in technology counters led by Apple after it launched new products and services.

Earlier, European stocks advanced on hopes that the European Central Bank will reduce interest rates and dish out monetary stimulus to boost the economy.

“Following the positive performances in the US and Europe, the FBM KLCI could extend its ascend with support at 1,590 points, ” JF Apex said.

Source: TheStar