Trading ideas: Pharmaniaga, MTD ACPI, Mulpha International, AirAsia, Gas Malaysia

KUALA LUMPUR: Pharmaniaga Bhd, MTD ACPI Engineering Bhd, Mulpha International Bhd, AirAsia Group Bhd and Gas Malaysia Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

Pharmaniaga is partnering with China's Sinovac Life Sciences Co Ltd for the supply of 14 million doses of Covid-19 vaccine in Malaysia.

Pharmaniaga expects the vaccine to be distributed to the public by the end of March, according to managing director Datuk Zulkarnain Md Eusope.

Under the deal, Pharmaniaga will carry out the fill and finish process of the vaccine developed by Sinovac.

MTD ACPI Engineering has won a RM33.44mil construction contract from the Public Works Department in Pahang.

Mulpha International's wholly-owned unit Mulpha Australia (Holdings) Pty Ltd has accepted a syndicated credit facility of A$342mil (RM1.07bil) from Oversea-Chinese Banking Corp Ltd and United Overseas Bank Ltd in Australia to finance the refurbishment works at InterContinental Sydney Hotel and to refinance its existing borrowings.

AirAsia said its domestic flights in Malaysia remain operational despite the planned implementation of the Movement Control Order across several states and federal territories.

Gas Malaysia has set the average natural gas selling price for the distribution segment of its unit Gas Malaysia Energy and Services Sdn Bhd at RM22.14 per million British thermal units (mmBtu) for the first quarter of 2021, which is RM11.51/mmBtu or 34.21% lower than the 2020 average natural gas selling price.

Ho Wah Genting is planning to raise up to RM34.58mil via a private placement for purchase healthcare products and for research and development activities for its healthcare-related business as well as to fully repay a loan from Hong Kong-based Prime King Investment Ltd, which had given Ho Wah Genting a short-term advance for working capital purposes.

Handal Energy is looking to raise up to RM11.13mil via a private placement to repay its borrowings and fund its working capital.

Meanwhile, US markets ended flat with slight gains as the benchmark Treasury yield rose, potential stimulus and political turmoil.

European stocks closed slightly lower amid concerns over the coronavirus and US politics.

“Following the mixed performances in the US and Europe, the FBM KLCI could hover sideways with support at 1,570 points,” JF Apex said.

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