Trading ideas: Berjaya Corp, Destini, ARB, Ireka, Integrated Logistics, MMHE, tech

KUALA LUMPUR: Stocks that may be seeing some trading interest on Wednesday include Berjaya Corp, Destini, ARB, Ireka, Integrated Logistics, MMHE and technology counters, according to JF Apex’s daily highlights report.

Berjaya Corp said reports that executive chairman Tan Sri Vincent Tan was flying to Japan to sign a distributorship agreement with Suzuki Motor Corp was “not true at all”.

Destini has bagged a contract to service Petrofac (Malaysia-PM304) Ltd’s Malaysian wells.

ARB’s wholly-owned ARBIOT Sdn Bhd is to work with two Chinese companies for the provision of water supply-related technology, with a combined project value of approximately RM800m.

Ireka has entered into a joint venture and shareholders’ agreement with CRRC Urban Traffic (Europe) Co Ltd (CRRC UT Europe) to pursue urban transportation business opportunities in Malaysia and Southeast Asia.

Integrated Logistics is partnering with Shun Hing Overseas Investment Ltd (SHOL) to participate in the bidding for the Large Scale Solar Photovoltaic Edition 3 (LSS3) project.

MMHE has secured an engineering contract from Petronas Carigali Sdn Bhd for the Kasawari Gas Development project.

Technology counters are in the spotlight as global silicon wafer area shipments fell 5.6% y-o-y in 2Q2019, according to the US-based Semiconductor Equipment and Materials International (SEMI).

Meanwhile, Wall Street put in a positive performance overnight on strong corporate quarterly earnings and excitement over next week’s US-China trade talks.

European equities were also on the rise on positive corporate results and expectations over the European Central Bank’s policy meeting on Thursday.

“Following the positive performance in global markets, the FBM KLCI could follow suit and climb towards the resistance of 1,670 points,” said JF Apex.

The index had ended 0.27 points higher at 1,655.67 on Tuesday.

Source: TheStar