Trading ideas: Sunway, Prestariang, Merge Energy, Dialog, Utusan

KUALA LUMPUR: JF Apex Research expects Sunway Bhd, Prestariang Bhd, Merge Energy Bhd, Dialog Group Bhd and Utusan Melayu (Malaysia) Bhd to be among the stocks to watch on Tuesday.

Sunway has inked a privatisation agreement with the Selangor State Development Corp (PKNS) via its 60:40 subsidiary, Sunway PKNS Sdn Bhd, to develop a mixed development on a prime 9.5-acre parcel of leasehold land in Kota Damansara.

Prestariang Bhd has secured a RM22.94mil contract from the Ministry of Finance.

Merge Energy has accepted a contract worth RM26 million from federal government agency Pengurusan Aset Air Bhd (PAAB) to undertake connection and installation works for the Langat 2 water treatment plant.

Dialog has been awarded a master service agreement from Petronas in relation to plant maintenance and turnaround works for the national oil firm’s plants, groupwide.

Utusan Melayu has announced the sale of a second apartment unit in Jakarta to help fund its voluntary separation scheme (VSS).

FGV has aborted its plan to jointly develop a model to ensure palm oil sustainability with US consumer goods giant Procter & Gamble (P&G) and five other organisations.

Ranhill via its wholly-owned unit has secured a two-year contract worth RM151.5mil for non-revenue water (NRW) reduction in Johor.

Meanwhile, US markets climbed overnight with the S&P hitting a record high as chipmakers rose after the US-China trade truce.

Similarly, European stocks advanced after the US and China agreed to hold off new tariffs.

“Following the positive performance in the US and Europe, the FBM KLCI is expected to test its resistance of 1,690 points,” JF Apex said.

Source: TheStar