Trading ideas: Lion Industries, Bintai Kinden, Reservoir Link Energy

TheStar Tue, Apr 13, 2021 08:44am - 3 weeks ago

KUALA LUMPUR: Stocks that may see price movement on Tuesday include Lion Industries, Bintai Kinden, Reservoir Link Energy, Komarkcorp, Comfort Gloves, Luster Industries, Gets Global and GDB, says JF Apex Research.

The research house noted that corporate announcements made by these companies yesterday could influence investor interest in today's trading.

Lion Industries announced that the proposed disposal by its 99%-owned subsidiary Amsteel Mills Sdn Bhd of its hot-briquetted iron plant and business in Labuan to Esteel Enterprise Pte Ltd has fallen through as the long stop date due on April 10 to meet all the conditions precedent as stated in the amended and restated sale and purchase agreement (A&R SPA) has not been fulfilled or waive.

Bintai Kinden will acquire Johnson Medical International Sdn Bhd for RM50mil to expand its healthcare business segment.

Reservoir Link Energy said that it has secured a three-year contract from Petronas Carigali Sdn Bhd for the provision of well leak repair equipment and services.

Separately, the group has also proposed an acquisition of a 51% equity stake in a special purpose vehicle (SPV) which will be involved in the solar photovoltaic (PV) segment, for RM21.17mil.

Komarkcorp plans to raise RM23.07mil via a private placement to expand its face mask manufacturing business.

Comfort Gloves has proposed a bonus issue of 174.13 million warrants to reward shareholders and raise funds primarily for capital expenditure purposes, as well as an employee share scheme.

Luster Industries said it has inked an agreement to provide engineering, procurement, construction and commissioning for 12 rubber glove production lines in the US.

Gets Global has entered into a heads of agreement with BT Capital Sdn Bhd for a potential acquisition of an equity stake in Great Stylish Venture Sdn Bhd (GSVSB) to expand its glove busines.

GDB has proposed to undertake a bonus issue of new ordinary shares on the basis of one bonus share for every two existing GDB shares.

Related Stocks

APEX 0.935
BINTAI 0.450
GETS 2.640
LUSTER 0.210
RL 0.645


Login to comment.