KUALA LUMPUR: AirAsia, automotive companies, Toyo Ventures, Kim Loong, Duopharma Biotech, MISC, Minho and Artroniq (formerly known as Plastrade Technology) are among the stocks to watch on Wednesday, JF Apex Research says.
AirAsia sold 32.67% of the 49% stake it holds in AirAsia (India) Ltd to Tata Group for US$37.66mil or RM152.58mil.
The low-cost carrier group said the disposal will reduce cash burn in the short term and allow the company to concentrate on recovery of its key Asean markets in Malaysia, Thailand, Indonesia and the Philippines in the long run.
Automotive counters such as UMW, Tan Chong, DRB-Hicom, Bermaz Auto, MBM Resources are in focus after the Ministry of Finance (MoF) has announced the extension of the vehicle sales tax exemption period by a further six months until June 30,2021.
Toyo Ventures has finally executed the build, operate and transfer (BOT) contract with Vietnam’s Ministry of Industry and Trade (MOIT) for the development of the US$3.23bil Song Hau 2 thermal power plant project, which was first announced in 2008.
Kim Loong Resources’ 3QFY21net profit more than doubled to RM28.84mil from RM13.79mil a year ago due to higher production of fresh fruit bunches and crude palm oil prices.
Duopharma said the government has extended the agreement for the supply and delivery of human insulin products by one year from Dec 2,2020 to Dec 1,2021, with an additional contract value of RM19.62mil.
MISC's joint-venture (JV) companies have secured a five-year extension from Shell Brasil to provide floating production storage and offloading (FPSO) Espirito Santo, located offshore Brazil.
Minho announced that five of its employees have been confirmed as Covid-19 positive, after the company conducted a mass screening exercise on Dec 26.
Artroniq plans to place out not more than 30% of its issued shares to raise as much as RM30.77mil, which it intends to use as working capital and to invest in a future viable investment that it is still identifying in the information and communication technology (ICT) or management services sectors.
Did you find this article insightful?
100% readers found this article insightful