Trading ideas: Techbond, Media Chinese, Toyo Ventures, Vizione, mTouche

TheStar Mon, Feb 08, 2021 09:00am - 3 months ago

KUALA LUMPUR: Stocks to watch on Monday include Techbond Group Bhd, Media Chinese International Limited, Toyo Ventures Holdings Bhd, Vizione Holdings Bhd and Mtouche Technology Bhd, according to JF Apex Research.

Techbond has proposed to undertake a bonus issue of up to 431.25 million new shares on the basis of five bonus shares for every four existing shares, with the entitlement date to be determined later.

Media Chinese International Ltd issued a profit warning to inform its shareholders that the group’s quarterly earnings will more than halve for its 3QFY21.

Toyo Ventures intends to raise up to RM46.22mil via a private placement to fund its Vietnam power plant project.

The group is planning to issue up to 16.05 million new shares or 10% of its share capital to third-party investors to be identified later.

Vizione has proposed another private placement just after eight months, to raise funds to be used for its existing and future projects, as well as capital expenditure.

It plans to raise up to RM48.39mul by placing up to 30% of its issued shares to third party investors to be identified later, with an indicative issue price of 20.5 sen per placement share.

mTouche Technology is raising fresh capital of up to RM79.44mil via a cash call to finance its diversification into the distribution and sale of Covid-19 test kits, as well as funding of the wellness business and working capital.

Businessman Datuk Seri Robin Tan has trimmed his stake in Iris Corp notwithstanding the group’s success in clinching an RM1.16bil government contract for an immigration system.

SKB Shutters confirmed that there is no unannounced corporate development that may account for the recent sharp rise in price and volume of the company’s shares, after its stock price surged 86% over the past two days.

Bursa Malaysia has issued an unusual market activity (UMA) query on Mentiga Corp due to the sharp rise in its share price and trading volume.

Meanwhile, US markets rallied on Friday with the S&P and Nasdaq hitting record high as investors hoped a disappointing January jobs data would increase chances of additional stimulus.

Earlier, European stocks ended mixed amid corporate earnings and progress in vaccination.

“Following the recent lacklustre performance, the FBM KLCI could remain sideways below the resistance of 1,615 points,” JF Apex said.

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