Trading ideas: Cypark Resources, Nexgram Holdings, Carimin Petroleum

KUALA LUMPUR: Stocks that may be receiving investor attention on Tuesday include Cypark Resources, Nexgram Holdings, Carimin Petroleum, George Kent (M), Hiap Huat Holdings, Parkson Holdings and Perdana Petroleum, says JF Apex research.

Cypark Resources Bhd’s net profit for the fourth quarter ended Oct 31, 2019 (4QFY19) grew 23% RM38.87mil from RM31.53mil a year ago.

Nexgram Holdings Bhd posted a net profit of RM67,000 for the first quarter ended Oct 31, 2019 (1QFY2020), from a net loss of RM963,000 last year.

Carimin Petroleum Bhd has been awarded a four-year integrated hook-up and commissioning services contract by Petronas Carigali Sdn Bhd.

GEORGE KENT (M) BHD is unaware of any intention by its chairman Tan Sri Tan Kay Hock to divest of his 4.77% direct stake and 37.42% stake in the company.

HIAP HUAT HOLDINGS BHD is purchasing a 4.10-acre plot of leasehold land in Pulau Indah Industrial Park for RM11.97mil to build a new waste treatment plant.

Parkson Holdings Bhd’s subsidiary Parkson Retail Asia Ltd is closing down its department store in MyTOWN Shopping Centre, Cheras.

Perdana Petroleum Bhd’s rights issue of up to 1.56 billion new redeemable convertible preference shares was undersubscribed by 5.99%.

For Tuesday’s session, JF Apex expects the FBM KLCI to test the 1,620 resistance on window-dressing activity.

Overnight, Wall Street took a tumble on profit-taking activities after hitting record high levels during the year-end rally.

European markets were similarly lower with all sectors declining except banking.

Source: TheStar