Trading ideas: Binastra, Tower REIT, Capital A, VS Industry, Bertam Alliance, SCIB

KUALA LUMPUR: Binastra Corp Bhd, Tower Real Estate Investment Trust (Tower REIT), Capital A Bhd, V.S. Industry Bhd (VSI), Sarawak Consolidated Industries Bhd (SCIB) and Bertam Alliance Bhd are among the stocks to watch today.

Binastra has secured a RM268mil construction contract from TNJ Development Sdn Bhd for the proposed development of a 45-storey suite apartment block.

Tower REIT said its chief executive officer (CEO), Martin Kung Boon Keat, has resigned from the company to pursue other career opportunities.

Reuters reported that AirAsia is in advanced discussions to place an order for at least 100 Airbus jets at next week’s Paris Airshow, a deal likely to mark the introduction to its fleet of the planemaker’s smallest jet, the A220, industry sources said.

In the third quarter ended April 30, VSI’s net profit fell more than half to RM23.8mil, or 0.62 sen per share, compared with RM54.4mil, or 1.43 sen, in the same quarter a year ago. Revenue for the quarter fell to RM909.4mil against RM1.01bil previously.

Bertam Alliance has regularised its financial condition and no longer triggers any of the Prescribed Criteria under Paragraph 2.1 of Practice Note 17 (PN17) and Paragraph 8.03A of the Main Market Listing Requirements of Bursa Malaysia.

Bertam said it will be uplifted from being classified as a PN17 company effective from 9 am today.

SCIB has announced a reshuffling of its board of directors to reinforce corporate governance, enhance leadership depth and support the company’s strategic growth initiatives.

Datuk Chong Loong Men has been appointed as the new executive chairman of SCIB.

The company also announced the resignations of independent non-executive chairman, Datuk Seri Zaini Jass, and independent non-executive directors Kang Wei Luen, Ooi Hoot Kuang and Ng Cheng Shin.