Trading ideas: Mesiniaga, Silver Ridge Holdings, SC Estate Builder

TheStar Tue, Oct 05, 2021 09:19am - 2 years View Original


KUALA LUMPUR: While the market is expected to continue to trend lower today, JF Apex Research noted some potential trading interest in Mesiniaga Bhd, Silver Ridge Holdings Bhd, SC Estate Builder Bhd, Sinmah Capital Bhd and Genting Bhd.

Mesiniaga Bhd secured two contracts from Astro Malaysia Holdings Bhd's wholly-owned subsidiary Measat Broadcast Network Systems Sdn Bhd worth at least RM53.39mil.

Silver Ridge Holdings Bhd has bagged a contract worth RM20.64mil from Telekom Malaysia.

SC Estate Builder Bhd will be suspended on Tuesday morning at the company's request, pending the release of a material announcement.

Sinmah Capital Bhd has proposed a capital reduction exercise, which entails the reduction of RM88mil of its issued share capital.

Genting Bhd via 24.98%-owned associate Landmarks Bhd is selling its Indonesian hospitality asset to Blumont in an estimated S$63.4mil (RM195.1mil) for a 29.34% stake in Blumont.

The FBM KLCI was seen slipping 2.01 points to 1,522.47 yesterday. Following the lacklustre performance, JF Apex expects the index to test the support at 1,520 points.

This would be in line with the sharp retreat in US markets overnight as technology counters led the selldown amid rising bond yields.

Earlier, European stocks dropped amid concerns over inflation, rising interest rates and the US Federal Reserve's tapering.

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