Trading ideas: Minetech, Bursa, Hartalega, Luxchem, Supermax, Atrium Reit, RGT


KUALA LUMPUR: Stocks to watch on Wednesday include Minetech Resources Bhd, Minetech Resources Bhd, Hartalega Holdings Bhd, Luxchem Corp Bhd, Supermax Corp Bhd, Atrium Real Estate Investment Trust and RGT Bhd, according to JF Apex Research.

Minetech Resources has been awarded a contract valued at RM37.46mil to undertake a civil works project.

Bursa Malaysia's 3QFY20 net profit surged more than twofold to a record high of RM121.94mil from RM47.10mil a year earlier, on the back of higher operating revenue.

Hartalega has recorded its best-ever quarterly net profit at RM544.96mil in its 2QFY21, which is about five times the RM103.87mil posted last year.

Luxchem’s 3QFY20 net profit jumped 65% to RM14.2mil, from RM8.6mil in the previous corresponding quarter.

Supermax posted a record quarterly net profit of RM789.52mil, up almost 32 times from RM24.75mil a year ago, thanks to the continued booming demand for rubber gloves amid the Covid-19 pandemic.

Separately, Supermax also announced that it is planning for a dual listing on the Singapore Exchange to expand and diversify its shareholder base.

Atrium REIT’s 3QFY20 net rental income jumped 73.98% year-on-year thanks to the rental income from Atrium Bayan Lepas 2 which commenced in October 2019, and the one-off gain on disposal of used racking systems.

RGT's net profit for the first quarter ended Sept 30, 2020 soared 124.2% year-on-year on the back of a surge in demand for hygiene care products such as soaps and sanitiser dispensers;

The board of director of HSS Engineers has suspended group chief executive officer (GCEO) Datuk Ir. Nitchiananthan Balasubramaniam for four weeks with immediate effect.

The suspension is to facilitate independent investigation to be carried out for alleged misconducts on the part of the GCEO.

Meanwhile, US markets ended mixed overnight amid quarterly results and rising coronavirus cases.

Earlier, European stocks tumble following concerns over Brexit and record rises in daily coronavirus infections.

“Following the mixed performance in Wall Street, the FBM KLCI could continue to hover sideways above the support of 1,475 points,” JF Apex said.

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Minetech , Bursa , Hartalega , Luxchem , Supermax

   

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