Trading ideas: YTL Corp, Astro, Meda Inc, T7, Scomi, D’Nonce

KUALA LUMPUR: JF Apex expects YTL Corp Bhd, Astro Malaysia Holdings Bhd, Meda Inc Bhd, T7 Global Bhd, Scomi Group Bhd and D’Nonce Technology Bhd to be among the stocks to watch on Monday.

YTL Corp is buying Spanish firm SOL HTL Project, which owns a freehold property in Madrid that will be refurbished and converted into a 200-room hotel that will operate under the Marriot International Inc’s EDITION brand, for euro 220 million (RM1.038bil).

Astro will be undertaking a Voluntary Separation Scheme (VSS) that will allow the group to further simplify the organisation, enhance operational efficiency and reduce annual operating expenses.

Three subsidiaries of Scomi Group Bhd have applied for judicial management at the Shah Alam High Court today to temporarily shield them from legal proceedings “by third parties”.

Meda Inc plans to raise up to RM37mil for its Malaysia Tourism City project in Kuala Linggi, Alor Gajah, Melaka.

The High Court has dismissed T7 Global’s suit against its former managing director Datuk Harzani Azmi and ex-executive director Tan Wee Koh for breaches of fiduciary duties, negligence and breach of trust.

D’Nonce Technology is suing its former managing director and CEO, Law Kim Choon, accusing him of committing fraud and conspiracy and of breaching fiduciary duties.

Meanwhile, US markets plunged on Friday following weaker-than-expected jobs data and concerns on US-China trade deal.

Earlier, European stocks rebounded led by technology counter.

“Following the bearish performance in Wall Street, the FBM KLCI is expected to trend lower towards its support at 1,660 points,” JF Apex said.

Source: TheStar