Trading ideas: Sumatec, Destini, Mah Sing, Berjaya Assets

KUALA LUMPUR: JF Apex Research expects Sumatec, Destini, Mah Sing Group and Berjaya Assets to see trading interest on Wednesday.

It said Sumatec would carry out the gas development plan for the Rakuschechnoye oil & gas field that could offer fee income of RM144mil over three years starting next year and confident of a turnaround next year.

As for Destini, the group bagged a RM46mil contract to supply defence equipment for the RMAF.

Mah Sing has acquired 76 acres of land in Jawi, Penang for RM46mil for a new township with a gross development value of RM400m.

JF Apex Research said Berjaya Assets sold a 20% stake in Berjaya Time Square to the Sultan of Johor.

Overnight on Wall Street, US stocks fell, with the S&P 500 retreating from a record close, as investors considered the timing of reduced monetary stimulus from the Federal Reserve and monitored budget negotiations on Capitol Hill.

Similarly, European equities closed lower as Swiss stocks weighed on bourses, and investor caution over the timing of the US Federal Reserve's reduction of its stimulus program lingered.
“On the local bourse, the FBM KLCI extended its record high after adding 1.98 points to 1,843.85. Following the bearish sentiment in the US, we expect the KLCI to be negative today as investors take profit,” it said