Trading ideas: Rubberex, Muda, Green Packet, Solarvest

KUALA LUMUR: Rubberex, Titijaya Land, Muda Holdings, Green Packet and Solarvest are among the stocks which could see some trading interest on Thursday after announcing their corporate exercises, says JF Apex Research.

Rubberex signed a distribution agreement with Titijaya Land to export gloves, personal protection equipment and medical products to China.

The glove maker said it aims to distribute and export the products to the China market via Sinopharm Medical Equipment QuanZhou Co Ltd.

JF Apex Research said as for Muda Holdings, its Federal Packages Sdn Bhd bought a 60% stake in a corrugated cartons and boards manufacturer for RM15mil.

Green Packet has proposed a private placement to raise between RM62.51mil and RM98.94mil to fund its cloud business. Green Packet said the indicative issue price for the shares is 52 sen apiece, a discount of 9.12% to its five-day volume weighted average price of 57 sen.

Ni Hsin Resources is teaming up with Fiatec Biosystem Sdn Bhd to develop health and bioenergy products for its new food and beverage (F&B) business.

JF Apex Research also pointed out Solarvest's subsidiary Solarvest Asset Management Sdn Bhd (SAMSB) has obtained a two-year moneylender licence from the Ministry of Housing and Local Government (KPKT). Solarvest said the licence allows SAMSB to undertake moneylending services in relation to solar panel leasing and other related activities.

Bertam Alliance secured a RM22.9mil contract to maintain and replace water tanks in Sabah.

As for I-Stone, it will distribute Siemens Industry Software Pte Ltd's software and hardware.

Overnight on Wall Street, US markets close higher, boosted by gains in technology, consumer and healthcare counters due to optimism on reopening of the economy.

Earlier, European stocks ended higher amid UK's GDP falling 20% and hopes of a coronavirus vaccine.

At Bursa, the FBM KLCI lost 8.10 points to 1,556.64. Following the positive performances in the US and Europe, the KLCI could stage a rebound off its support of 1,550, it said.

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