Trading ideas: Siab, Telekom, CIMB, ECM Libra, Axiata and IOI
KUALA LUMPUR: Stocks that could see increased investor attention on Friday include Siab, Telekom, CIMB, ECM Libra, Axiata and IOI, said JF Apex Research.
Siab Holdings Bhd has secured an RM89.57mil contract from SDN Assets I Sdn Bhd to build a two-storey warehouse with office space in Klang, Selangor.
Telekom Malaysia Bhd succeeded in dismissing RM152.94mil claims by Singapore-based IPTV solution provider Vodoke Pte Ltd at the Singapore International Arbitration Centre (SIAC).
CIMB Group Holdings Bhd is planning to buy the remaining minority shares it does not own in CIMB Bank Bhd for RM1.4mil, in its bid to streamline the shareholding structure.
ECM Libra Group Bhd’s shareholders were advised to reject the takeover bid by the group's non-independent and non-executive director Datuk Lim Kian Onn as the offer is deemed as “not fair” and “not reasonable”.,
Axiata Group Bhd’s 63%-owned tower subsidiary, edotco Group Sdn Bhd, said its Myanmar operations are largely unaffected by the political upheaval there, but the company is not putting more investment due to difficulty in getting the US dollar in Myanmar.
IOI Corporation Bhd restarted its share buy-back yesterday after a six-month hiatus with a purchase of 613,000 shares for RM2.3 million, translating into RM3.75 a share.
Meanwhile, JF Apex said the FBM KLCI could remain buoyed above the support of 1,400 oints following the rebound on Wall Street.
The US market rallied overnight following strong expectations on June's employment data that will be released later today.
Similarly, European stocks rose to extend their rebound.