Trading ideas: Berjaya Land, MyEG, Cymao

KUALA LUMPUR: Berjaya Land Bhd (BLand), MyEG Services Bhd and Cymao Holdings Bhd are among the stocks to watch out on Tuesday, according to JF Apex Research.

BLand plans to sell its entire 32.5% stake in Berjaya Vietnam Financial Center Ltd for RM154.86mil, translating into a loss of RM25mil. The proposed disposal is expected to be completed during the second half of 2018.

Cymao Holdings Bhd will dispose of two parcels of industrial land for RM12mil cash.It said the disposal of land was a result of the closure of Cymao Plywood’s mill, which will enable the group to unlock the value of land and availability of additional funds for working capital requirements of the group.

MyEg has issued a clarification after news reports that the Government had terminated its contract for rehiring illegal foreign workers.

It explained that the project was adhering to its existing prescribed deadlines.

Meanwhile, US markets rose overnight with the Nasdaq hitting record high following gains in technology counters.

Earlier, European stocks also advanced on corporate news of potential mergers and acquisitions.

The Dow Jones Industrial Average gained 178.48 points to 24813.69 while the S&P 500 rose 12.25 points to 2,746.87.

“Following the bullish performance in the US and Europe, the FBM KLCI is expected to climb towards its resistance of 1,770 points,” JF Apex said.

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