Trading ideas: Bertam, Careplus, OCK, Wegmans, BFood, Panasonic

TheStar Mon, Aug 24, 2020 09:05am - 7 months ago

KUALA LUMPUR: Stocks to watch on Monday include Bertam Alliance Bhd, Careplus Group Bhd, OCK Group Bhd, Wegmans Holdings Bhd and Berjaya Food Bhd.

Bertam Alliance’s indirect wholly-owned subsidiary MV Properties Sdn Bhd (MVSB) is being sued by the Inland Revenue Board (IRB) for RM17.67mil in outstanding tax payments, inclusive of penalties for the assessment year 2017.

Careplus has proposed to acquire a piece of industrial land in Rembau, Negeri Sembilan for RM23mil cash to expand its glove manufacturing facilities.

Wegmans has proposed a bonus issue of warrants on the basis of one free warrant for every four shares held, with an exercise price of 23.5 sen per share.

OCK has appointed UOB Kay Hian to underwrite between 70.65% to 76.99% of its one-for-10 rights issue of shares with free warrants, which is expected to raise up to RM24.45mil.

Berjaya Food posted a net loss of RM30.16mil in the fourth quarter ended June 30, 2020 (4QFY20), after operations got hit by the Movement Control Order.

Meanwhile, US markets rose on Friday with the S&P and Nasdaq extending their record highs after positive manufacturing activity.

Earlier, European stocks declined after poor PMI data in the region and geopolitical tension between the US and China.

JF Apex said the FBM KLCI could continue its sideways trend above the support of 1,550 points following the mixed performances in the US and Europe.

Related Stocks

BERTAM 0.110
BJCORP 0.355
OCK 0.500


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