Trading ideas: LTKM, MyEG, Perdana Petroleum, Dayang

KUALA LUMPUR: LTKM Bhd, MyEG Services Bhd, Perdana Petroleum Bhd and Dayang Enterprise Holdings Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

LTKM’s managing director Datuk Tan Kok and his family have offered RM1.35 a share for the remaining shares of the chicken egg producer not owned by them, under an unconditional voluntary takeover offer.

An Indonesian unit of MyEG Services is purchasing a 40% stake in PT Cartenz Inti Utama for US$10 million or approximately RM41.10mil, as the e-government services provider seeks to further expand its business outside of Malaysia.

Perdana Petroleum is extending RM682.5mil in financial assistance to its 60.48%-owned subsidiary Dayang Enterprise, in order to help the latter establish new means to repay its debts.

Meanwhile, US markets advanced overnight following better-than-expected quarterly results from major technology counters.

Earlier, European stocks were mixed amid corporate earnings and investors waiting for the European Central Bank policy meeting on Thursday.

“Following the positive performance in Wall Street, the FBM KLCI could remain buoyed above the 1,650-point level,” JF Apex said.

The research house said the benchmark index has been on the uptrend since May after rebounding from a low of 1,570 points.

“After last month’s surge, the FBM KLCI tested the 200-day moving average. Last week’s decline saw the index dropped out of the uptrend channel and could trend sideways with support from the 50-day moving average,” JF Apex said.

Source: TheStar