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Trading ideas: MCT, Barakah, Astral Asia, Cocoaland
KUALA LUMPUR: JF Apex Research expects MCT, Barakah, Yokohama Industries, Astral Asia, Cocoaland and Iskandar Waterfront City to be among the stocks which will see trading interest on Monday.

Property developer MCT will make its debut on the Main market after completing its reverse takeover of GW Plastics and lifted from PN17 status. Its offer price is RM1.28 a share.

Barakah bagged the job of providing Kebabangan Petroleum Operating Company Sdn Bhd’s (KPOC) topside maintenance services.

As for Yokohama Industries, the group’s controlling shareholder HSG Investments Pte Ltd is disposing of its entire 62.3% stake in the automobile battery manufacturer to another Singapore-based counterpart, Fordington Pte Ltd, for RM90mil.

JF Apex Research pointed out Astral Asia proposed to undertake a capital reduction which will give rise to a credit of RM96mil to offset its accumulated losses, with the balance to be transferred to its capital reserve account.

Cocoaland confirmed a report that it is in discussions with Swedish private equity group EQT Partners for potential investments in the confectionery manufacturer.

Protasco bagged a RM58mil contract for main civil and infrastructure works to connect the road between Jalan Klang Lama and the New Pantai Expressway (NPE).

Iskandar Waterfront City is selling three pieces of freehold land in Plentong, Johor totalling 127.92 acres for RM2.37 billion with expected gain of approximately RM1.2bil or RM1.80 sen per share.

On the local market, JF Apex Research said while the FBM KLCI added 2.55 points to close at 1,834.52 last Friday,  it expects the KLCI to be negative on Monday,  tracking losses on the US stocks index futures.

The US created 126,000 non-farm payrolls in March, which is lower than the expected 245,000 jobs and the lowest since 2013.

“Investors are now expect the US rate hike would come later than sooner, but still be in second half of this year. All eyes are on China inflation data for this week, which could shed some light on the state of the world’s second largest economy,” it said.

http://www.thestar.com.my
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