Trading ideas: Widad, Menang Corp, Revenue Group, Reach Energy, Ranhill

KUALA LUMPUR: Widad Group Bhd, Menang Corp (M) Bhd, Revenue Group Bhd, REACH ENERGY BHD and RANHILL HOLDINGS BHD are among the stocks to watch on Thursday, according to JF Apex Research.

Widad is planning to take over Menang’s concession, which is housed under the latter’s 71%-owned unit Inovatif Mewah Sdn Bhd, on management and maintenance of UiTM Seremban 3 campus in Negeri Sembilan for RM122mil cash.

Revenue Group has partnered with Grab Malaysia to enable its in-app GrabPay’s mobile QR payment to be made available at all of its merchant payment touchpoints, which will enable GrabPay e-wallet users to have wider and quicker access to Revenue’s 20,000 touchpoints throughout Malaysia.

Reach Energy found positive results of testing of the Exploration Well K-15 in its Emir Oil Concession Block onshore Kazakhstan.

Ranhill has signed three Memoranda of Understanding (MoUs) with Indonesia’s PT Jasa Sarana yesterday to explore opportunities in the energy and waste management sectors in the province of West Java.

GDB has bagged an RM213.3mil contract for main building works for the proposed development of a five-Star 22-storey hotel in Kota Kinabalu.

JF Apex noted that AIRASIA, Genting Plantations, TH Heavy Engineering, Econpile, Sime Darby Property, Mah Sing, Sunsuria saw their quarterly earnings decline year-on-year, whilst Taliworks, Padini, Allianz, UEM Sunrise posted better year-on-year quarterly net profits.

Meanwhile, US markets extended their record highs following stronger-than-expected economic data such as durable goods orders, jobless claims and 3Q GDP.

The S&P 500 climbed 0.4% to 3153.64 while the Nasdaq Composite advanced 0.7% to 8705.18. The Dow Jones Industrial Average gained 42.32 points, or 0.2%, to 28,164.

Similarly, European stocks advanced following optimism on the US-China trade deal.

“Following the positive performances in the US and Europe, the FBM KLCI could rise towards its resistance of 1,615 points, ” JF Apex said.

Source: TheStar