Trading ideas: MMC, Maybank, Kimlun, WZ Satu, CBIP, Axis Reit, Seacera

KUALA LUMPUR: JF Apex Research expects MMC Corp Bhd Malayan Banking Bhd , Kimlun Corp Bhd, WZ Satu Bhd, CB Industrial Product Holdings Bhd (CBIP), Axis Real Estate Investment Trust and Seacera Group Bhd are among the stocks to watch on Tuesday.

MMC announced that the Borneo Highway PDP Sdn Bhd (BHP) had on April 22 received a notification from the Government to terminate the project delivery partner (PDP) agreement for the Sabah portion of the Pan Borneo Highway.

Maybank’s Indonesia unit PT Bank Maybank Indonesia Tbk saw net profit fall 10% year-on-year for its 1QFY19, due to a higher loan loss provision during the quarter.

Kimlun has bagged an RM204.4mil contract to build two blocks of apartments in Selangor.

WZ Satu was awarded with a RM101.84mil subcontract job for the construction of bridges at Section 4 from Renggam to Kulai, for the electrified double-track project from Gemas to Johor Bahru.

CBIP has bagged an RM48.58mil job to build a continuous sterilisation palm oil mill with a processing capacity of 45 tonnes of fresh fruit bunches per hour.

Axis REIT’s 1QFY19 net property income increased 24% year-on-year mainly due to the commencement of two leases and the rental contribution of four newly-acquired properties.

Seacera clarified that its single-largest shareholder Datuk Tan Wei Lian had never approached the board of the tile manufacturer to propose any business plan, which includes the sale of the group’s smaller assets and payment of a 10 sen special dividend.

Meanwhile, US markets rose overnight to all-time highs amid corporate earnings, upcoming economic data and monetary policy meeting.

Earlier, European stocks ended slightly higher after Spain’s election results and weaker economic sentiment in euro zone.

“Following the positive performance in the US and Europe, the FBM KLCI could remain buoyed with its resistance level at 1,655 points,” JF Apex said.

Source : TheStar