Financial News

3rd May 2017 - Trading ideas: Ikhmas Jaya, Anzo, Trive Property, Vitrox

KUALA LUMPUR: Ikhmas Jaya, Anzo, Trive Property and Vitrox are among the stocks which could see trading interest on Wednesday after their corporate news, says JF Apex Research.

It said Ikhmas Jaya bagged a RM62.4mil contract from Pelaburan Hartanah Bhd to undertake the earthworks, piling and pile cap works for a mixed development in Kuala Terengganu.

As for Anzo, it was appointed the main contractor for Phase 2 of the Porto De Melaka Hotel and Resort development in Malacca worth RM109.3mil.

Maxwell International said its external auditor has expressed a disclaimer opinion in the company’s audited financial statements for its FY16.

JF Apex Research pointed out Trive Property will work with Universiti Teknologi Malaysia (UTM) to develop a solar farm with a gross development value of RM150mil, through a collaboration UTM and VSolar.

As for FGV, the plantation giant said it has not been notified by its shareholders of any plan involving the sale of its plantation land to the Federal Land Development Authority (FELDA). Neither has it been told of the possibility of new shareholders emerging in the company.

Star performer Vitrox is proposing one-for-one bonus issue to reward shareholders.

Overnight on Wall Street, the Nasdaq extended its record high after Apple shares hit an all-time high.

The Dow Jones Industrial Average rose 36.43 points, or 0.17%, to 20,949.89, the S&P 500 gained 2.83 points, or 0.12%, to 2,391.16 and the Nasdaq Composite added 3.76 points, or 0.06%, to 6,095.37.

The Federal Reserve started its two-day monetary policy meeting with investors expecting no change in interest rate. European stocks advanced amid quarterly earnings and upcoming French election.

At Bursa Malaysia, the FBM KLCI jumped 10.41 points to close at 1,778.47 on foreign buying of banking stocks.

“Following the positive performance in the US and Europe, the KLCI could continue its bullish momentum towards 1,800,” it said.

sourced from: The Star Online