Trading ideas: CTOS Digital, Digi, Favelle Favco, MK Land, Hextar, Classic Scene, Artroniq, LYC and Pasukhas
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KUALA LUMPUR: Stocks to watch for include CTOS Digital, Digi.Com, Favelle Favco, MK Land, Hextar Technologies Solutions, Classic Scene, Artroniq, LYC Healthcare and Pasukhas Group, said JF Apex Research.
CTOS Digital Bhd has proposed to buy a 19.9% stake in RAM Holdings Bhd from Creador’s Oscar Matrix Sdn Bhd for RM51.3mil cash, raising its shareholding to 39.1%.
Digi.com Bhd's 2Q22 net profit dropped 21.39% YoY to RM220.04mil, mainly due to the one-off prosperity tax.
Favelle Favco Bhd has bagged a total of RM42.7mil new purchase orders to supply tower cranes.
MK Land Holdings Bhd is diversifying into renewable energy with the development of a 10.95-megawatt (MW) large-scale solar photovoltaic (PV) plant in Kerian, Perak.
The controlling shareholder of Hextar Technologies Solutions Bhd.,
Datuk Eddie Ong, has bought over the company's entire stake of 14.94% in Classic Scenic Bhd in a related party transaction and he is now the largest shareholder of Classic Scenic with a stake of 32.06%.
Artroniq Bhd has proposed to diversify its business to acquire precision engineering and machinery parts manufacturing by acquiring a 60% stake in Penang-based Fujim Digital Sdn Bhd (FDSB) for RM12mil.
LYC Healthcare Bhd is acquiring two firms in Negeri Sembilan — Nutrogreen Health Industries Sdn Bhd (NHISB) and Kitta Enterprise — to strengthen its position in the nutraceutical business for RM525,000 and RM1mil respectively.
Pasukhas Group Bhd said Messrs Crowe Malaysia PLT (Crowe) has voluntarily resigned as the auditor of the company due to a disagreement on the audit fees.
Meanwhile, JF Apex said the FBM KLCI could remain sideways above the support of 1,394 points
On Friday, the US market rallied in a relief rebound following earnings announcements by banks such as Wells Fargo and Citigroup.
Similarly, European stocks rebounded despite weaker-than-expected Chinese GDP and central banks in Canada, South Korea, New Zealand, Singapore and the Philippines raised interest rates.