Trading ideas: Sapura Energy, Ireka, Top Glove and Luster Industries

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KUALA LUMPUR: Stocks to observe for on Wednesday embody Sapura Energy, Ireka, Top Glove and Luster Industries, says JF Apex Research.

Sapura Energy has been served with one other winding-up petition over unpaid cash, this time by Icon Offshore Bhd.

The group stated the petition was initiated after Sapura Offshore was unable to pay a sum of RM4.02mil plus curiosity underneath a consent judgment entered into by the agency and Icon Offshore Group on Dec 13, 2021.

Ireka has joined 26 different affected listed issuers underneath Practice Note 17 (PN17) after Bursa Malaysia Securities rejected the corporate’s software to increase the aid interval, which ended on Feb 26.

The Ministry of International Trade and Industry (MITI) revealed the estimated loss incurred by Top Glove throughout the interval of the “Withhold Release Order” (WRO) imposed by the United States’ Customs and Border Protection (CBP) was RM3.6bil.

Luster Industries has proposed to purchase a 9,554 sq m freehold land in Ara Damansara from the Sime Darby group for RM35 million.

The group stated the acquisition would allow it to construct its land financial institution in beneficial areas, the place it may leverage on its in depth expertise in constructing mixed-use developments.

Meanwhile, JF Apex expects the FBM KLCI to retest its assist of 1,570 factors following the unfavourable sentiment from the Russia-Ukraine battle.

The US market plunged in a single day as Russia continued its assault on Ukraine and oil costs surged previous US$100 a barrel.

European shares had declined sharply as Russian troops have been heading in direction of Ukraine’s capital Kyiv.



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