Trading ideas: Amverton, Chin Hin, Dayang, Kerjaya Prospek, MyEG, Sapura Energy, T7

KUALA LUMPUR: Amverton Bhd, CHIN HIN GROUP Bhd, DAYANG ENTERPRISE HOLDINGS BHD, KERJAYA PROSPEK GROUP BHD, MyEG Services Bhd (MyEG), SAPURA ENERGY and T7 GLOBAL BHD are among the stocks to watch on Tuesday, according to JF Apex Research.

Amverton’s founder cum chairman and controlling shareholder Tan Sri Ng Boon, intends to privatise the company.

Ng’s holding company Dalta Industries Sdn Bhd is offering to acquire the remaining 80.83 million shares or a 22.14% stake in the company at RM1.20 per share or a total of RM97mil.

Chin Hin Group Property’s non-independent and non-executive chairman Datuk Seri Chiau Beng Teik and his family have launched a mandatory general offer (MGO) of the rest of the shares and warrants they do not own.

The Chiau family purchased CHGP shares today in the open market and via direct business transactions, bringing their stake to 37.59% from 31.39% previously.

The MGO includes a 30 sen offer price per CHGP share and 10 sen offer price per CHGP warrant.

Dayang bagged two contracts for the provision of integrated hook-up and commissioning from Petronas Carigali Sdn Bhd. The contracts are to last for four years, effective Jan 1, 2020 to Dec 31, 2023.

Kerjaya Prospek bagged an RM617mil contract to construct flats for Aspen Vision City Sdn Bhd in Penang, representing almost half the RM1.3 billion new job wins in 2019.

The contract involved two phases, VIVO and VIIO located in the 245-acre mixed development project Aspen Vision City.

MyEG’s Indonesian associate PT Catenz Inti Utama has secured additional mandates from the Indonesian government to roll out its tax monitoring system to 30 more cities, expanding beyond the system’s current implementation in Jakarta.

Sapura Energy’s unit with Austrian OMV Aktiengesellschaft, SapuraOMV Upstream Sdn Bhd’s Larak gas field under the SK408 production sharing contract (PSC), has posted its first production.

T7 Global has inked a contract from Repsol Oil & Gas Malaysia Bhd to provide maintenance, construction and modification services for Block PM3-CAA between Malaysia and Vietnam and Block PM-305 located offshore Terengganu.

Meanwhile, US markets rose overnight with the S&P and Nasdaq hitting record highs after news that the US will remove China from its list of currency manipulators.

Earlier, European stocks were flat ahead of the US-China phase one trade deal to be signed tomorrow.

“Following the positive performance in Wall Street, the FBM KLCI could rebound towards the resistance of 1,615 points,” JF Apex said.

Source: TheStar