Trading ideas: Cypark, MISC, Axiata, Careplus, WZ Satu

KUALA LUMPUR: JF Apex Research expects Cypark Resources Bhd, MISC BHD, Axiata Group Bhd, Careplus Group Bhd and WZ Satu Bhd to be among the stocks to watch on Friday.

Cypark has partnered with three parties to jointly develop renewable energy projects, consisting of two solar photovoltaic and another waste-to-energy (WTE) projects.

MISC has secured two time charter parties (TCPs) from ExxonMobil Corp with an estimated combined value of US$711mil.

Axiata will refrain from undertaking mergers and acquisitions in the near term as Malaysia’s biggest wireless carrier looks to improve its operations following the collapse of talks for a merger with Telenor ASA’s Asian business, people with knowledge of the matter said.

Careplus is spending RM24mil to gain full control of its loss-making subsidiary Careglove Global Sdn Bhd, which makes rubber gloves for the Brazilian market.

It is buying the remaining 49.99% stake in Careglove from AJJ Holding Inc, whose ultimate shareholder is Renato Silveira Joiozo.

WZ Satu will supply green energy generated by its proposed biogas power plant in Jerantut, Pahang, to Tenaga Nasional Bhd for 21 years.

The civil engineering and construction group said it will gain RM3mil to RM4mil in revenue per year.

Overnight, US markets rose following optimism on the US-China trade talks after President Trump is set to meet Chinese Vice Premier Liu He later today.

Similarly, European stocks advanced on hopes of a US-China trade deal and hints of further interest rate cut by the US Federal Reserve.

“Following the positive performances in the US and Europe, the FBM KLCI could stage a rebound from its support of 1,550 points, ” JF Apex said.

Source: TheStar