Business

Trading ideas: PetChem, Lotte, JAKS, Carimin

KUALA LUMPUR: Petronas Chemical, Lotte Chemical Titan, JAKS Resources and Carimin Petroleum are among the stocks which could see trading interest following the corporate developments over the past 24 hours, says JF Apex  Research.

Petronas Chemical is selling a 50% stake in its polymer unit to Saudi Aramco for RM3.8bil.

As for Lotte Chemical Titan, it  received a stop-work order from the Department of Environment at its TE3 Project.

JAKS Resources is selling a freehold industrial property in Subang Jaya for RM25.9mil.

Bina Darulaman was awarded a RM18.2mil contract to develop an agriculture irrigation system in Kedah and Perlis for Muda Agricultural Develpoment.

Carimin Petroleum secured a five-year contract from Petronas to provide maintenance, construction and modification services for an undisclosed sum.

JF Apex  Research pointed out US markets rallied to record highs overnight lifted by gains in financial and healthcare counters. 

Earlier, European stocks advanced except for Spain due to political instability following Catalonia’s independence referendum.
 
At Bursa, the FBM KLCI shed 0.80 point to 1,754.78. 

“Following the bullish performance in the US and Europe, the KLCI could stage a rebound after testing the support of 1,750 yesterday,”  it said.