Trading ideas: Sapura Resources, T7 Global, Seacera, GPacket, Fajarbaru, Atlan

KUALA LUMPUR: Sapura Resources Bhd, T7 Global Bhd, Seacera Group Bhd, Green Packet Bhd, Fajarbaru Builder Group Bhd and Atlan Holdings Bhd are among the stocks to watch on Monday, according to JF Apex Research.

Sapura Resources’ unit has inked a joint venture (JV) agreement with Rolls-Royce to distribute the latter’s products to marine (naval and commercial), rail, construction and industrial, mining, agriculture, oil and gas, and power generation market sectors in Malaysia.

T7 Global has secured three contracts worth RM100mil in total.

Seacera said its wholly-owned subsidiary Seacera Properties Sdn Bhd (SPSB) has received a notice of demand and termination from Megapower (M) Sdn Bhd, now known as Brosman Holdings (M) Sdn Bhd (BHM), demanding a payment of RM6.3mil in respect of the purchase price paid to SPSB for a piece of land.

Green Packet is collaborating with Bank Islam Malaysia Bhd to provide electronic wallet services.

Fajarbaru Builder has bagged an RM27.17mil contract from Knusford Bhd linked to the Setiawangsa–Pantai Expressway (SPE) project, also known as Duta-Ulu Kelang Expressway (DUKE) Phase-3.

Atlan Holdings is exploring the possibility of listing its subsidiary, United Industries Holdings Sdn Bhd, on the Growth Enterprise Market of the Stock Exchange of Hong Kong.

United Industries is an investment holding company and its subsidiaries are principally involved in the manufacturing, marketing and distribution of automotive component parts.

Meanwhile, US markets declined on Friday amid corporate earnings, geopolitical tension in Iran and comments from Federal Reserve.

Earlier, European stocks climbed slightly on hopes of a US interest rate cut.

“Following the mixed performance in the US and Europe, the FBM KLCI could hover below the resistance of 1,675 points,” JF Apex said.

Source: TheStar