Trading ideas: GFM Services, MyEG, Metronic, NTPM, Kossan

KUALA LUMPUR: JF Apex Research expects GFM Services Bhd, MY E.G Services Bhd (MyEG), Metronic Global Bhd, NTPM Holdings Bhd, Kossan Rubber Industries Bhd and plantation counters to be among the stocks to watch on Friday.

GFM Services has clinched a three-year contract to provide operations and maintenance services at Villages 1 and 2 and their associated facilities located at the Pengerang Integrated Complex (PIC) in Johor from Petroliam Nasional Bhd (Petronas).

MyEG will be offering online renewal of motorcycle road tax and competent driving licence (CDL) in an expansion of services provided for the Road Transport Department (JPJ).

Metronic Global has entered into a collaborative project with Singapore's JF Strategic Management Pte Ltd (JFSM) to develop what it termed "smart factories" and "space optimisation".

NTPM said it is disposing of its toilet rolls and tissue manufacturing subsidiary, as the firm has continuously incurred losses with little prospects of a turnaround in the near future.

The group is selling its entire 100% interest in NTMP Paper Mill (Bentong) Sdn Bhd) to XSD International Paper Sdn Bhd for RM27.5mil cash.

Kossan said it will be paying an estimated total remediation fee of RM50mil to its migrant workers. The rubber glove maker said it has finalised its remediation plan after extensively investigating the situation and consulting multiple stakeholders.

Plantation counters as the Ministry of Human Resources said he received information that another large company in Malaysia will face similar action by the US following earlier alleged use of forced labour by FGV Holdings Berhad in its production process.

Tan Chong Motor has teamed up with PT SGMW Motor Indonesia to explore opportunities in introducing PT SGMW's vehicle products to Malaysia and Thailand.

Meanwhile, US markets rose overnight led by gains in technology counters despite lawmakers failing to agree on the US$2.2 trillion stimulus package.

Earlier, European stocks climbed after manufacturing PMI came within expectations.

“Following the positive performances in the US and Europe, the FBM KLCI could stay buoyed above the support of 1,475 points,” JF Apex said.

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GFM Services , MyEG , Metronic , NTPM , Kossan


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