Trading ideas: Genting Malaysia, Reservoir Link Energy, Westports Holdings, Khee San, Samaiden, Aeon Credit Service and Eco World Development

KUALA LUMPUR: Stocks that made recent corporate announcements include Genting Malaysia, Reservoir Link Energy, Westports Holdings, Khee San, Samaiden, Aeon Credit Service and Eco World Development, said JF Apex Research.

Genting Malaysia Bhd (GENM) is seeking its shareholders' approval to buy back its own shares at its upcoming AGM, Reservoir Link Energy Bhd has received a letter of award from ExxonMobil Exploration and Production Malaysia Inc (EMEPMI) for the provision of annulus wash and cement placement equipment and services.

Westports Holdings Bhd said a fire broke out within the company’s extensive container yard facilities at 4.45pm on Monday (April 4), which was brought under control at 3am on Tuesday.

Khee San Bhd has entered into two distribution agreements which include a deal with pharmaceutical product manufacturer Jardin Pharma Bhd for two years.

Samaiden Group Bhd has proposed a bonus issue of up to 224 million shares on the basis of two bonus shares for every three existing shares held.

AEON Credit Service (M) Bhd's net profit for the fourth quarter ended Feb 28, 2022, dropped 79.44% to RM23.38 million from RM113.72mil reported in the previous year's corresponding quarter.

Eco World Development Group Bhd (EcoWorld) confirmed that its wholly-owned unit Hasrat Budi Sdn Bhd has filed a lawsuit seeking the removal of Tan Sri Shahril Shamsuddin and Anuar Rozhan as directors of MySJ Sdn Bhd.

Meanwhile, JF Apex said the FBM KLCI could remains sideways below the resistance of 1,620 points.

The US market plunged overnight after Federal Reserve officials supported interest rate hikes and a reduction of the central bank's balance sheet in as early as May.

European stocks ended mixed amid ongoing developments in Ukraine and the lowe Euro zone PMI.

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