Trading ideas: Iris, Nova MSC, Dancomech, GHL, Mesiniaga, Comfort Gloves

KUALA LUMPUR: JF Apex Research expects Iris Corp Bhd, NOVA MSC Bhd, Dancomech Holdings Bhd, GHL Systems Bhd, Mesiniaga Bhd and Comfort Gloves Bhd to be among the stocks to watch on Tuesday.

Iris has received a letter of intent to procure 15 million International Civil Aviation Organization (ICAO)-compliant electronic contactless inlays along with its operating system (in 2ups), which is required for the manufacture of Indian e-passports, worth US$27.54mil.

Nova MSC’s indirect subsidiary EyRIS Pte Ltd has bagged a five-year contract from Singapore’s Ministry of Health for the deployment of SELENA+, EyRIS’ first artificial intelligence (AI)-based product.

Dancomech said its 55%-owned subsidiary has bagged a sub-contract worth S$12.01mil (RM36.5mil) at Jurung Port in Singapore.

GHL Systems has proposed a bonus issue of up to 381 million new shares on the basis of one bonus share for every two shares held.

Mesiniaga has bagged a RM42.01mil contract from the Royal Malaysian Customs Department.

Lien Hoe is selling a parcel of freehold land in Bandar Seri Alam, Johor for either RM88.67mil in cash or for a reduced price of RM64.62mil, if certain conditions are not met.

Ho Wah Genting has submitted a research protocol to the Ministry of Health (MoH) to evaluate the effectiveness of oral polio vaccine as a preventive protection against the SARS-CoV-2 virus.

Comfort Gloves' latest quarterly net profit jumped by six times to RM42.8mil from RM7.12mil a year ago, on the back of higher prices and sales volume, and better economies of scale that boosted the profit margin to 22% from 6%.

GFM is looking to enlarge its portfolio of concession assets to include a rest and service area along PLUS Malaysia Bhd's North-South Expressway via the proposed acquisition of up to 70% equity interest in Amzass (M) Sdn Bhd.

Nylex has obtained the green light from the Malaysian Investment Development Authority to double its ethanol production capacity to a total of 10 million litres per year. Ethanol is used mainly in the manufacture of sanitisers and disinfectants.

Meanwhile, European stocks rebounded strongly yesterday following progress in several coronavirus vaccines whilst US markets were closed in observance of Labour Day.

“Following the positive performance in Europe, the FBM KLCI could stage a rebound with support at 1,510 points whilst resistance at 1,550 points,” JF Apex said.

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Iris , Nova MSC , Dancomech , Mesiniaga , Comfort Gloves


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