Trading ideas: Kerjaya Prospek, Mah Sing, Kumpulan Powernet, Ekovest, Hua Yang


KUALA LUMPUR: Stocks to watch on Thursday include Kerjaya Prospek Group Bhd, Mah Sing Group Bhd, Kumpulan Powernet Bhd, Ekovest Bhd and Hua Yang Bhd, accrording to JF Apex Research.

Kerjaya Prospek has bagged an RM64mil contract to build a sewerage plant for the Seri Tanjung Pinang (Phase 2A) development (STP2) in Penang.

Mah Sing is set to commence glove production in April 2021. The group said it has commenced additional piling works to accommodate 12 units of new, high-speed glove dipping machines in its glove manufacturing factory in Kapar, Klang, to meet its targeted production date.

Kumpulan Powernet is seeking to venture into the logistics business by acquiring a 51% stake in chemical and gas transportation firm Chemtrax Sdn Bhd for RM10mil.

Gadang reported a lower 1QFY21 net profit on y-o-y basis as dragged down its construction division.

Axis REIT’s net property income for its 3QFY20 results rose 4.98% to RM50.26mil from RM47.87mil a year ago on higher overall trust income.

Ekovest has secured more time to consider a proposal to acquire a 40% stake in IWH-CREC Sdn Bhd.

Hua Yang slipped into the red in its 2Q results on lower sales and because its Meritus Residence development had been completed at the end of the previous financial year.

GD Express is proposing a bonus issue of 705.18 million Warrants C on the basis of one warrant for every eight existing ordinary shares.

Meanwhile, US markets declined overnight amid uncertainty in the coronavirus stimulus talks. Earlier, European stocks tumbled on worries over new infections.

“We expect the local benchmark to trend sideways today with our support level of 1,475 points as impacted by tepid market sentiment,” JF Apex said.

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