Trading ideas: Lay Hong, Seacera, Dataprep, Saudee, Wegmans

TheStar Mon, Mar 15, 2021 09:00am - 1 month ago

KUALA LUMPUR: Lay Hong Bhd, Seacera Group Bhd, Dataprep Holdings Bhd, Saudee Group Bhd, Wegmans Holdings Bhd, Straits Inter Logistics Bhd and Supercomnet Technologies Bhd are among the stocks to watch on Monday, according to JF Apex Research.

Lay Hong's production from its Jeram 1 farm in Selangor has been suspended from the local and export markets after Salmonella Enteritidis (SE) was found in its eggs exported from one of its farms, leading to a recall in Singapore.

Seacera has secured a contract from construction engineering group Vizione Holdings Bhd to supply building materials up to an aggregate value of RM300mil over three years.

Dataprep has signed a Memorandum of Collaboration (MoC) with an IT consulting and services provider company Asia Coding Centre Sdn Bhd for provision of integrated solution technology for Covid-19 screening.

Saudee has signed a supplementary agreement with Top Standard Corp, a Hong Kong-based food and beverage group, following the latter’s appointment as a distributor in Hong Kong, Macau and China territories.

Wegmans saw its net profit for the fourth quarter ended Dec 31, 2020 rise 4.7 times to RM4.75mil, from RM1.01mil in the previous year's corresponding quarter, underpinned by higher sales volume in North America.

Straits Inter Logistics' net profit for the fourth quarter ended Dec 31, 2020 dropped 30.99% year-on-year, as lower profit contributions from its associate companies, continued losses from its inland transportation and logistics segment and year-end provision offset the higher revenue.

Supercomnet saw its fourth quarter net profit jump 61.84% year-on-year, on improved margins and better revenue recognition.

Cheetah, XOX and Lambo Group have entered into a tripartite collaboration to launch an online apparel store, Cheetah Online Store, by April 2021.

Under the collaboration, led by XOX, Cheetah will revamp its apparel brands, focusing on online business and the youth market, the companies said in a joint statement.

Vsolar plans to undertake a private placement to raise as much as RM22.51mil to finance solar photovoltaic projects the company secures.

Meanwhile, the US market ended mixed on Friday as the Dow rose to a record high while Nasdaq declined as the 10-Year US Treasury yield climbed to a high of 1.64%.

Earlier, European stocks ended lower following concerns of higher US bond yields.

“Following the negative sentiment, the FBM KLCI could trend lower towards the support of 1,600 points,” JF Apex said.

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