Trading ideas: Boustead, Bursa Malaysia, Bintai Kinden, TCS, Willowglen

KUALA LUMPUR: Boustead Holdings Bhd, Bursa Malaysia Bhd, Bintai Kinden Corp Bhd, TCS Group Holdings Bhd, Willowglen MSC Bhd and T7 Global Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

Lembaga Tabung Angkatan Tentera (LTAT) has decided not to pursue the privatisation of Boustead Holdings at this juncture, after taking into consideration the current challenging economic environment arising from the Covid-19 pandemic and the reimplementation of Movement Control Order.

Bursa Malaysia’s net profit in its 4QFY20 stood at RM104.85mil, up 130% from RM45.56mil a year earlier, while revenue went up 78% to RM230.7mil from RM129.33mil, as trading revenue grew significantly for the securities and derivatives markets segment.

Greatech Technology via its unit Greatech Integration (USA) Inc has teamed up with US-based company Atlis Motor Vehicles (ATLIS) to assist ATLIS develop an electric vehicle battery pack assembly production line at its headquarters located in Arizona.

Bintai Kinden’s 50.05%-owned subsidiary Bintai Healthcare Sdn Bhd has signed a memorandum of understanding with SRT-EON Security Services Sdn Bhd to supply its cold chain boxes for the storage and distribution of Covid-19 vaccines.

TCS has secured a RM92.72mil contract from Tropicana Temokin Sdn Bhd (TTemokin) to undertake a freehold condominium project known as Tropicana Miyu in Petaling Jaya.

Willowglen MSC has bagged a contract worth RM12.48mil in Singapore from the republic’s Public Utilities Board.

Westports’ 4QFY20 net profit grew by 30.34% year-on-year on higher container revenue and lower operational costs, while its quarterly revenue increased by 20% year-on-year.

T7 Global is buying the remaining 49% stake in subsidiary Fircroft Tanjung Sdn Bhd, which supplies manpower for the oil and gas industry.

Meanwhile, US stocks rallied for the second day on Tuesday, with the Dow Jones Industrial Average gaining more than 475 points for its best day since November.

The S&P 500 climbed 1.4% and the Nasdaq Composite jumped more than 1.5% amid corporate earnings announcements.

Similarly, European stocks closed higher amid investor optimism for a post-pandemic recovery, while fears over a speculative retail trading frenzy in the U.S. waned.

“Following the bullish momentum in Wall Street, the FBM KLCI could extend its rebound towards the resistance of 1,615 points,” JF Apex said.

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