Trading ideas: KPower, IJM Corp, Top Glove

TheStar Tue, Apr 27, 2021 09:20am - 2 years View Original


KUALA LUMPUR: Stocks to watch for on Tuesday include, KPower, IJM Corp, Top Glove, Aneka Jaringan, Kerjaya Prospek, Gamuda, IGB REIT, AirAsia X, Yong Tai, Kanger International, Computer Forms and FCW Holdings, according to JF Apex Research.

KPower has secured four EPCC contracts with a total value of approximately RM510mil in Pahang and Perak.

IJM Corp clarified that it has not received "any formal proposal or offer from any party expressing interest for a corporate merger" at this juncture.

Top Glove has resolved all 11 International Labour Organization (ILO) indicators of forced labour, noting that the resolution of the 11 ILO indicators of forced labour was verified by independent international UK consultant Impactt Ltd in its report dated April 22.

Aneka Jaringan has secured a RM77.8mil subcontract for the construction of West Coast Expressway from IJM Construction Sdn Bhd.

Kerjaya Prospek and Gamuda has won a RM202.6mil contract from E&O to build a sea link between Jalan Gurney and the Seri Tanjung Pinang (phase two) development (STP2 Island).

IGB REIT’s 1QFY21 net property income fell 36% yoy largely due to lower car park income and higher allowance for impairment of trade receivables as a result of Covid-19.

AirAsia X, which is planning a RM500mil fundraising exercise, intends to provide a steeper discount to its rights issue price to encourage the take-up of the cash call.

The board intends to fix the rights issue price at an indicative discount of between 30% and 55% to the theoretical ex-all price of AAX shares.

Yong Tai said its healthcare subsidiary has obtained the approval from the Ministry of Health's Medical Review & Ethics Committee for its Phase III clinical trial study of inactivated Covid-19 trial vaccines in Malaysia, involving 3,000 subjects.

Kanger International is buying a 51% stake in building materials supplier Sung Master Holdings Sdn Bhd for RM94.8mil, which will be satisfied by a combination of cash of RM52mil and the issuance of 713.2 million new Kanger shares at six sen apiece for the remaining RM42.8mil.

Computer Forms has proposed to sell four parcels of land in Setapak, Kuala Lumpur to FCW Holdings for a total of RM91.1mil.

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Related Stocks

AAX 1.200
ANEKA 0.255
APEX 0.980
CAPITALA 0.660
CFM 0.130
FCW 1.020
GAMUDA 5.120
IGBB 2.460
IJM 2.320
KANGER 0.055
KERJAYA 1.750
RENEUCO 0.070
RENEUCO-WA 0.035
YONGTAI 0.245

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