Trading ideas: ARB, LYC Healthcare, Tan Chong Motor, FGV

KUALA LUMPUR: JF Apex Research expects ARB Bhd, LYC Healthcare Bhd, Tan Chong Motor Holdings Bhd and FGV Holdings Bhd are among the stocks to watch on Tuesday.

ARB has entered into a partnership deal with Beijing Kuangshi Technology Cl Ltd (MegVii) to explore business opportunities in artificial intelligence (AI) facial recognition application and relevant algorithm technology in the Internet of things (IoT) field in Malaysia;

LYC Healthcare is partnering with Biofresh Hygiene Services Sdn Bhd to market cleanliness, hygiene and sanitation services in Malaysia amid rising awareness of hygiene due to the Covid-19 pandemic.

Tan Chong Motor said its subsidiary in Vietnam has been appointed as the exclusive importer and distributor of completely-built-up (CBU) MG brand vehicles in that country.

FGV said that its power generation is among immediate projects that could be carried out as part of the oil palm plantation group’s plan to boost returns from renewable energy projects, which constitute a part of the company’s recovery strategy from the impact of the Covid-19 pandemic.

Sanichi Technology, AT Systematization, PNE PCB and a US-based company have joined forces to produce medical-grade mechanical air ventilators to take advantage of the worldwide shortage of the product.

JF Apex noted that Hartalega, Thong Guan, Syarikat Takaful, Hume Industries, Mi Technovation, Southern Steel, CSC Steel reported better year-on-year quarterly results.

On the other hand, Petronas Dagangan, GuocoLand, Carimin Petroleum, Teo Seng Capital, Duopharma Biotech posted weaker year-on-year quarterly net earnings.

Meanwhile, US markets rallied overnight after a coronavirus vaccine showed potential signs.

The S&P 500′s rally on Monday pushed the broader-market index above 2,934.49, the 61.8% retracement level from February’s record high, for just the second time since March 6 on a closing basis.

Earlier, European stocks advanced following investor optimism on economies being reopened and lockdowns being lifted.

“Following the bullish performances in the US and Europe, the FBM KLCI could breach the resistance of 1,415 points,” JF Apex said.

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ARB , LYC Healthcare , Tan Chong Motor , FGV


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