Trading ideas: PNE PCB, Hwa Tai, Chin Teck, Duopharma, Pharmaniaga

KUALA LUMPUR: Stocks to watch on Wednesday include PNE PCB Bhd, Hwa Tai Industries Bhd, Chin Teck Plantations Bhd, Duopharma Biotech Bhd and Pharmaniaga Bhd, according to JF Apex Research.

The research house also expects Gabungan AQRS Bhd, Dagang Nexchange Bhd, Advancecon Holdings Bhd and Poh Huat Resources Holdings Bhd to see trading interest following their corporate news.

PNE PCB, which is in the midst of diversifying into rubber glove manufacturing, is proposing a private placement to raise RM21.13mil in order to reduce its borrowings and upgrade its existing printed circuit board production.

Hwa Tai Industries has been slapped with an unusual market activity (UMA) query by the stock exchange, after its share price surged as much as 33.3%.

Chin Teck Plantations said its 1QFY21 net profit doubled to RM15.77mil from RM7.81mil a year earlier on the back of higher revenue, thanks to higher prices for fresh fruit bunches (FFB), crude palm oil (CPO) and palm kernel (PK).

Duopharma Biotech has signed a deal with the Malaysian government to supply 6.4 million doses of the Russian-developed "Sputnik V" Covid-19 vaccine.

Pharmaniaga signed an agreement with Putrajaya to supply 12 million doses of a China-developed Covid-19 vaccine.

Its wholly-owned subsidiary Pharmaniaga LifeScience Sdn Bhd entered into a term sheet agreement with the government of Malaysia, represented by MoH, for the purchase and distribution of the Covid-19 vaccine.

Atrium REIT said its fourth quarter net property income (NPI) rose 20.64% year-on-year thanks to rental income contribution from its Atrium Bayan Lepas property in Penang.

Gabungan AQRS has bagged two contracts for the provision of piling and infrastructure work worth a combined RM83.58mil.

DNeX has clarified that other than a consortium agreement signed by its unit yesterday, it has not received a letter of award nor has it entered into an agreement with the Indonesian government for a cable laying, maintenance and repair job there.

Advancecon has bagged a RM60.6mil subcontract for the proposed construction and completion of subgrade works of Package 3, Section 4 for the East Coast Rail Link (ECRL) project.

Poh Huat Resources' main operating subsidiary in Malaysia has discovered 543 positive Covid-19 cases among its employees.

RGT’s 2QFY21 net profit swelled to RM4.09mil, from RM1.01mil posted in the same quarter last year on the back of surging topline as underpinned by strong demand for its hygiene care products.

In another filing, RGT’s 70%-owned plastic products subsidiary RGT Industries Sdn Bhd has entered into a sale and purchase agreement with real estate company BKNT Resources Sdn Bhd to acquire property for facility expansion in Penang’s Bukit Minyak Industrial Park for RM14mil.

Meanwhile, US markets declined from record highs as the rally takes a breather ahead of quarterly earnings announcements by giant technology firms.

Earlier, European stocks rose following gains in financial and chemical counters.

“Following the mixed performances in the US and Europe, the FBM KLCI could consolidate above the support of 1,570 points,” JF Apex said.

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PNE PCB , Hwa Tai , Chin Teck , Duopharma , Pharmaniaga , DNeX


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