Trading ideas: Yinson, Widad, Perdana Petroleum, DeGem, Ikhmas Jaya

KUALA LUMPUR: JF Apex Research expects Yinson Holdings Bhd, Widad Group Bhd, Perdana Petroleum Bhd, Degem Bhd and Ikhmas Jaya Group Bhd to be among the stocks to watch on Thursday.

The research house also expects iDIMENSION CONSOLIDATED BHD and Daibochi Bhd to see trading interest following their latest news.

Yinson’s 2QFY20 net profit dropped 44.2% year-on-year on lower profit contribution from a floating production storage and offloading (FPSO) vessel, unfavourable foreign exchange (forex) and impairment loss.

Widad has secured an RM120.03mil contract to design and build a new solid waste transfer station in Taman Beringin, Jinjang Utara, Kepong here.

Perdana Petroleum has bagged work orders worth up to RM48mil from Petronas Carigali Sdn Bhd, to provide two anchor handling tug supply (AHTS) vessels.

The major shareholder of jewellery manufacturer DeGem, is offering minority shareholders RM1.10 a share in a bid to take the group private.

Ikhmas Jaya has been served with a winding-up petition, together with an affidavit verifying petition from IPMUDA BHD, for owing RM2.97mil.

iDimension Consolidated has inked an agreement with a potential white knight for the injection of new assets and businesses into the GN3 company.

Daibochi posted a net loss of RM30,500 for the three months ended July 31 on the back of increasing flexible packaging sales in Malaysia and regional markets despite achieving best ever quarterly revenue of RM123.27mil in the same period.

The net loss was due to one-off net write down of inventories amounting to RM11.4mil, as well as mergers and acquisitions costs of RM6.4mil pertaining to the acquisition by Scientex Bhd, as well as the acquisition of Mega Printing & Packaging Sdn Bhd.

Meanwhile, US markets advanced overnight after President Trump said a US-China trade deal could arrive earlier than expected.

Earlier, European stocks declined on political uncertainty as Trump faces an impeachment inquiry and developments in Brexit.

“Following the positive sentiment in the Wall Street, the FBM KLCI could remain buoyed with support at 1,570 points, ” JF Apex said.

Source: TheStar