Trading ideas: Samaiden, Press Metal, AIM, VS Industry

KUALA LUMPUR: Stocks which could attract trading interest include Samaiden Group Bhd, which will make its debut on the ACE Market on Thursday. Its offer price is 48 sen.

JF Apex Research the other companies in the news are Press Metal, Advance Information Marketing, VS Industry, AME Elite, MAHB and Key Alliance Group.

Press Metal said the impact of the 38.2% anti-dumping duties imposed by the European Commission (EC) on its two China-based subsidiaries is minimal.

The duties are only on extrusion products from the subsidiaries to the EU, which only accounts about 4.6% to the group’s revenue and about 2.8% to its profit after tax in 2019.

Advance Information Marketing has received a notice of conditional voluntary takeover offer from Datuk Chai Woon Chet, who intends to acquire all the shares in AIM at 13 sen each.

VS Industry is buying six pieces of land with industrial buildings in Senai, Johor for RM98.8mil from AME Elite Consortium to expand its capacity as its manufacturing capacity.

MAHB said more international airlines have resumed their operations at the KLIA following effective Covid-19 safety measures. Passenger traffic movements at its airports across the country rose by 19% to 1.7 million in September from August, while aircraft movements increased by 9.8% to 27,010.

Key Alliance Group has secured an exclusive agreement with South Korean company Wells Bio Inc to supply the latter’s reverse transcription polymerase chain reaction (RT PCR) test kits to Malaysia and Singapore.

Handal Energy has bagged a contract from Enquest Petroleum Production Malaysia Ltd to provide offshore crane operator services.

Nexgram’s unit NMED Industries Sdn Bhd (NMEDI) has acquired 65% of Arita Holdings Sdn Bhd (AHSB), which makes plastic materials for the medical equipment market, for RM19.5 million.

XOX bought 117.84 million shares of Nexion Technologies Limited (Nexion), or 16.37% of the company’s issued and paid-up share capital, for RM23mil.

XOX expects the purchase would enable it to increase its capability to secure the network, addressing cybersecurity challenges, and generate new revenue streams by reselling Nexion products to XOX’s customers.

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