Trading ideas: Top Glove, Hartalega Techfast, LBS, Censof, Cymao, Sanichi

KUALA LUMPUR: Stocks to watch on Thursday include Top Glove Corp Bhd, Hartalega Holdings Bhd, Techfast Holdings Bhd, LBS Bina Group Bhd, Censof Holdings Bhd, Cymao Holdings Bhd and Sanichi Technology Bhd, according to JF Apex Research.

BlackRock, which holds a 1.61% stake in Top Glove voted against the election of six independent directors at the AGM yesterday.

Hartalega and its two subsidiaries are suing its former executive director Danaraj Nadarajah.

Techfast plans to diversify into petroleum trading and oil bunkering by acquiring a 35% stake in a company that supplies marine fuels for RM26.25mil.

LBS Bina plans to launch projects worth an accumulated gross development value of RM2.65bil this year.

Censof has bagged a RM10.12mil contract from the Ministry of Finance for its budget management information system.

Cymao, which was issued an unusual market activity (UMA) query by Bursa Malaysia yesterday, said it is unaware of any corporate development, apart from its proposed diversification into construction and project management.

Sanichi has emerged as a substantial shareholder of BCM Alliance Bhd, after acquiring 50.77 million shares or a 10.54% stake in the company via off-market trades.

Yong Tai, which last month proposed the development of a China-based company’s Covid-19 vaccine in Malaysia, today signed up Tiong Nam Logistics Holdings Bhd to provide distribution services for the vaccine.

Overnight, US markets ended mixed with the Dow surging to a record high with investors optimistic about the prospects of additional fiscal stimulus as results from the runoff elections in Georgia rolled in.

The S&P also climbed but the Nasdaq ended lower as markets were largely unaffected by the chaos in Washington Wednesday caused by pro-Trump rioters at the U.S. Capitol.

Earlier, European stocks advanced amid US political developments and concerns over the coronavirus which saw England and Germany extending lockdowns.

“Following the positive performance in Wall Street, the FBM KLCI could stage a rebound after coming off its support at 1,590 points,” JF Apex said.

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Top Glove , Hartalega Techfast , LBS , Censof , Cymao , Sanichi


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