Trading ideas: Supermax, Lion Industries, SunCon, PLB, Straits Inter Logistics, ELK-Desa

KUALA LUMPUR: JF Apex Research expects Supermax Corp Bhd, Lion Industries Corp Bhd, Sunway Construction Group Bhd (SunCon), PLB Engineering Bhd, Straits Inter Logistics Bhd and Elk-Desa Resources Bhd to be among the stocks to watch on Wednesday.

Supermax is buying a 2.02ha plot of land in Klang, Selangor for RM21.78mil for the future expansion of the group’s manufacturing capacity.

Lion Industries Corporation and Amsteel Mills Sdn Bhd are selling their stake in Antara Steel Mills Sdn Bhd hot-briquetted iron (HBI) plant and business in Labuan to Singapore's Esteel Enterprise Pte Ltd for US$128mil or RM546.56mil.

Sunway Construction and Engie South East Asia have inked an MoU to look into district cooling systems for greenfield and brownfield urban development projects.

PLB Engineering is planning to start a municipal solid waste to energy plant in Penang.

Straits Inter Logistics’ Singaporean subsidiary Straits Marine Services Pte Ltd (SMS) has entered into a one-year collaboration agreement with Ecom Solution Pte Ltd to offer vessel disinfecting and sanitisation services to ship operators in Malaysian and Singaporean ports.

ELK-Desa’s 4QFY20 net earnings tumbled 22.9% year-on-year mainly due to higher impairment allowances amid rising revenue.

Supercomnet has declared a final dividend of 1 sen/share and a special dividend of 0.5 sen/share for its FY19.

Focus Dynamics via its wholly owned subsidiary, Marquee International Sdn Bhd awarded an exclusive food delivery agreement to Lambomove Sdn Bhd, a wholly owned subsidiary of Lambo Group.

This exclusive food delivery agreement is referring to the delivery of food from Focus’ Cloud Kitchens which was earlier announced on 02nd June 2020.

Advancecon intends to undertake a proposed diversification of its existing principal activity of construction to include renewable energy business and related activities.

Meanwhile, US markets ended mixed with the Dow and S&P falling as profit taking kicked in ahead of the Federal Reserve's 2-day policy meeting.

Earlier in the day, European stocks declined after the Euro zone's GDP contracted 3.1%.

“Following the recent bullish performance, the FBM KLCI could face profit taking with support at 1,550 points,” JF Apex said.

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