Trading ideas: NWP, Cycle & Carriage, Omesti, Compugates, GPacket, Carimin

KUALA LUMPUR: Stocks to watch on Tuesday include NWP Holdings Bhd, Omesti Group Bhd, CYCLE & CARRIAGE BINTANG BHD, Compugates Holdings Bhd, GREEN PACKET BHD, Carimin Petroleum Bhd and Serba Dinamik Holdings Bhd, according to JF Apex Research.

NWP’s group chief executive officer has been suspended from his duties with immediate effect, as the group investigates a potential breach of fiduciary duty in the past transactions involving a subsidiary of the group.

Cycle & Carriage Bintang shareholders will decide today at an extraordinary general meeting (EGM) on the privatisation of C&C Bintang via a selective capital reduction (SCR) and repayment of RM2.20 per share.

Its share price has been on a downtrend over the past few trading days.

Omesti’s indirect subsidiary has secured orders worth RM35.7mil for the provision of hardware and software operated by the Inland Revenue Board (LHDN).

Compugates has finally received approval from the Sepang Municipal Council (MPSp) to jointly develop Phase 1 of a 25.09ha agriculture land in Dengkil, Selangor.

Green Packet said that its wholly-owned subsidiary Kiplepay Sdn Bhd has become the first fintech player in Malaysia to provide a white labelled e-wallet solution with Bank Negara Malaysia’s (BNM) approval.

Carimin Petroleum has secured a work order to provide an accommodation work boat for Petronas Carigali Sdn Bhd.

Serba Dinamik has clarified that it is not in talks with the Sarawak government to take over Brooke Dockyard and Engineering Works Corporation.

Overnight, US markets rose with the Nasdaq and S&P hitting record highs following gains in technology counters.

Earlier, European stocks ended mixed amid concerns over the coronavirus outbreak in China.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain lacklustre with support level at 1,520 points as the negative sentiment over the coronavirus prevails, ” JF Apex said.

Source: TheStar