Trading ideas: Can-One, SCIB, Bonia, Dialog, Focus Dynamics, Inari, Malakoff


KUALA LUMPUR: Can-One Bhd, Sarawak Consolidated Industries Bhd (SCIB), Bonia Corp Bhd, Dialog Group Bhd, Focus Dynamics Group Bhd, Inari Amertron Bhd and Malakoff Corp Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

Can-One has agreed to sell the entire stake in sweetened creamer and evaporated creamer manufacturer F&B Nutrition Sdn Bhd to Asia Dairy Creations Sdn Bhd for RM1bil.

It plans to utilise the gross proceeds from the sale to pare down its bank borrowings.

SCIB has bagged three engineering, procurement, construction and commissioning contracts worth a combined RM707.24mil in Abu Dhabi, Malaysia and Indonesia.

Bonia is buying two parcels of land in Bukit Bintang for RM49.35mil cash, in anticipation of capital appreciation and rental income from the assets.

Dialog's 4QFY20 net profit grew 11.3% year-on-year, mainly due to the strong performances of its Malaysian operations.

Focus Dynamics has proposed a one-for-three share split together with a rights issue of two irredeemable convertible preference shares for every six split shares held — together with free warrants.

The group seeks to raise up to RM102.21mil from the rights issue, which will be used to part-fund Focus Dynamics' mixed-development project "The Arch" — located along Jalan Tun Razak near nightlife centre TREC.

Inari Amertron is forming a 51:49 joint venture (JV) in Malaysia with Singapore's MIT Semiconductor Pte Ltd to undertake the supply of customised semiconductor process tools.

The JV, said Inari, will tap into MIT's expertise and technical know-how in providing semiconductor manufacturing solutions customised to Inari Group's OSAT and/or EMS requirements.

Inari, meanwhile, has the opportunity to venture into the segment as part of its diversification efforts.

Malakoff's 2QFY20 net profit doubled to RM104.96mil from RM52.25mil a year earlier, as earnings from Alam Flora Sdn Bhd came on stream, added with a higher contribution from its Tanjung Bin power plant.

Meanwhile, US markets were flat overnight with the S&P inching towards a record high amid corporate earnings and coronavirus stimulus talks.

Earlier, European stocks declined following concerns over the US-China tension and rising coronavirus cases.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways above the support of 1,550 points,” JF Apex said.

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Can-One , SCIB , Bonia , Dialog , Focus Dynamics

   

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