Trading ideas: Rohas Technic, Suiwah, Vortex

TheStar Mon, Jan 28, 2019 09:07am - 2 years ago


KUALA LUMPUR: JF Apex Research expects Rohas Technic Bhd, Suiwah Corp Bhd , and Vortex Consolidated Bhd to be among the stocks to watch following their latest corporate news.


Rohas Technic's indirect wholly-owned subsidiary RBC Water Sdn Bhd has signed a share purchase agreement (SPA) with shareholders of Phu My Vinh Construction And Investment Corp (PMV) to buy a 40% stake in the latter for Vietnamese dong 232 million (RM41.3mil).


   

The Hwang family, which holds a 30.91% stake in Penang-based Suiwah, is looking to take the company private at RM2.80 per share.


Vortex said that it has scrapped plans to buy a 70% stake in property developer Rimbun Gabungan Sdn Bhd (RGSB) for RM12mil cash.


Meanwhile, US markets rose on Friday following a partial resolution to the government shutdown.


Earlier, European stocks advanced following a rally in technology counters.


“Following the bullish performance in the US and Europe, the FBM KLCI could extend its uptrend towards the resistance of 1,710 points,” JF Apex said.


The research house said the technical indicators were mixed with the RSI hovering below the overbought zone while the MACD trended sideways above its signal line.


“The selldown in the past few months hit a low of 1,626 points last month before rebounding.


“The index could climb higher towards the resistance of 1,710 points after it breached the 50-day moving average last week,” it said.







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ROHAS 0.380
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