Trading ideas: Supermax, WCT, Tan Chong Motor, Superlon, THHE, Tadmax

KUALA LUMPUR: Supermax Corp Bhd, WCT Holdings Bhd, TAN CHONG MOTOR HOLDINGS BHD, SUPERLON HOLDINGS BHD, TH Heavy Engineering Bhd and Tadmax Resources Bhd are among the stocks to watch on Monday, according to JF Apex Research.

Supermax is buying a five-acre piece of industrial land in Meru, Klang, Selangor for RM20mil for future expansion of its manufacturing capacity.

WCT has been ordered to pay a total of 132.54 million riyals (RM152.65mil) following an unfavourable final award ruling in an arbitration case ordered by the Court of Arbitration of the International Chamber of Commerce (ICC).

Tan Chong Motor announced that its indirect wholly-owned subsidiary Tan Chong Construction (Labuan) Pte Ltd (TCC Labuan) had entered into a Joint Venture Agreement (JV) with An Tam Construction and Trading Co Ltd (Antaco Vietnam) to form a JV company to explore engineering and construction projects in Vietnam.

Superlon’s 3QFY20 net profit increased 39.3% year-on-year on the back of higher revenue and margin.

PN17 company TH Heavy Engineering has signed a non-binding Memorandum of Understanding (MOU) with ICE Petroleum Ventures Sdn Bhd in relation to the acquisition of its engineering unit ICE Petroleum Engineering Sdn Bhd (ICE).

Tadmax’s wholly-owned subsidiary Pulau Indah Power Plant Sdn Bhd, which is developing a 1,200 MW combined-cycle gas turbine power plant on Pulau Indah, Selangor, today executed the engineering, procurement, construction and commissioning (EPCC) contract with the project’s contractor.

Meanwhile, US markets rallied over 9% on Friday in a sharp rebound after President Donald Trump announced actions on the coronavirus and crude oil.

Earlier, European stocks advanced amid ongoing concerns over the coronavirus outbreak.

“Following the positive performances in the US and Europe, the FBM KLCI could stage a rebound towards the resistance of 1,380 points,” JF Apex said.

Source: TheStar