Trading ideas: Mah Sing, Yinson, T7 Global, Kelington, Jade Marvel

TheStar Tue, Dec 07, 2021 08:31am - 5 months View Original

KUALA LUMPUR: Stocks with recent corporate news flow that could receive investor interest on Tuesday include Mah Sing, Yinson, T7 GLOBAL, Kelington, Jade Marvel, Kerjaya Prospek Property, Bintai Kinden and KNM, said JF Apex Research.

Mah Sing's healthcare business unit Mah Sing Healthcare Sdn Bhd has received approval from the US Food and Drug Administration (FDA) to market nitrile examination gloves in the US market.

Yinson will issue RM1bil worth of five-year Islamic medium-term notes on Tuesday, which will pay an annual profit rate of 5.55% under the oil and gas support services provider's Wakalah Islamic bond scheme.

T7 Global has secured three letters of appointment and awards worth a combined value of RM300mil under its energy division for the operations and maintenance segment and specialist products segment.

Kelington has received an estimated RM85 million contract from a customer who is a global leader in engineering and project management of high-technology facilities.

Jade Marvel has inked an agreement with YHL Foods Sdn Bhd and YHL Jadem Frozen Sdn Bhd to provide services linked to frozen seafood processing and cold storage facilities, as well as sales.

Kerjaya Prospek Property has acquired 1.97 hectares of freehold land in Seberang Perai Selatan, Penang from Aspen Vision City Sdn Bhd for RM27.57mil.

Bintai Kinden has proposed to undertake a private placement of up to 20% of its existing issued shares to raise RM35 million, mainly to repay borrowings.

KNM has been granted Practice Note 17 (PN17) relief measures in relation to the issuance of Thai bonds, resulting in the company triggering suspended criteria and will not be classified as PN17 affected listed issuer.

Meanwhile, a strong rally on Wall Street overnight could help the FBM KLCI retrace recent losses.

The US market advanced strongly following easing concerns over the Omicron variant and potential for the Federal Reserve to remove existing policies and hike rates sooner than expected.

Similarly, European stocks rose as investors monitor developments over Omicron and Bitcoin volatility.

The FBM KLCI had plunged 18.29 points or 1.22% in the previous session to 1,483.45. However, JF Apex Research said it could bounce off its support of 1,480 points.

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