Trading ideas: TDM, Petron Malaysia, Hengyuan, Revenue Group

KUALA LUMPUR: JF Apex research expects the FBM KCI to hover sideways below the resistance of 1,590 points on Wdnesday, on the back of a positive performance yesterday.

Overnight, US market slipped on disappointing corporate results while the US-China trade talks and Brexit also weighed. European markets meanwhile was slightly improved on qaurterly earnings and debate over the Brexit in the UK.

On Bursa Malaysia, stocks that are expected to attract investor attention on Wednesday include TDM, Petron Malaysia, Hengyuan, Revenue Group , IFCA MSC, T7 GLOBAL and G Neptune, says JF Apex research.

TDM’s subsidiary PT Rafi Kamajaya Abadi (PT RKA) has been sanctioned by the Indonesian government and ordered to stop all plantation activities at some 900ha of its plantation area in Kalimantan, which has been burnt recently.

Petron Malaysia and Hengyuan confirmed that crude oil vessels are unable to discharge crude oil at two refineries owned by them in Port Dickson.

Revenue Group has proposed a two-for-three bonus issue to reward its shareholders.

IFCA MSC inked a memorandum of understanding with Huawei Services (Hong Kong) to cooperate in a strategic partnership programme to explore project initiatives in the areas of DevOps, cloud AI, big data and knowledge sharing on innovative technology.

T7 Global has been awarded an umbrella contract by Petronas Carigali Sdn Bhd to provide integrated well services for intervention, workover, and abandonment for petroleum arrangement contractors (PACs).

G Neptune’s independent auditor has issued a disclaimer of opinion on the group’s financial statements for FY19.

Source: TheStar