Trading ideas: Hong Seng, Chin Hin, LPI, Icon, Widad, Asdion


KUALA LUMPUR: JF Apex Research expects Hong Seng Consolidated Bhd, Chin Hin Group Property Bhd, LPI Capital Bhd, Icon Offshore Bhd, Widad Group Bhd and Asdion Bhd to be among the stocks to watch on Thursday.

Hong Seng Consolidated’s unit has bagged a RM34.25mil contract to supply polymerase chain reaction (PCR) test kits for Covid-19 to the Institute for Medical Research (IMR).

Chin Hin Group Property is eyeing to acquire a piece of land in Kuala Lumpur for RM85mil.

LPI Capital’s 4QFY21 net profit rose 9.97% year-on-year, thanks to an improved claims ratio and higher gross premium income by its insurance unit Lonpac Insurance Bhd.

Icon Offshore has secured a US$13.3mil (RM53.85mil) order to supply a jack-up drilling rig to Petrofac (Malaysia-PM304) Ltd, raising the group’s order book to RM768.8mil.

Widad said it had entered into a memorandum of collaboration (MoC) with Motion Ventures to provide facilities management to community solar projects and large-scale photovoltaic plants with a total capacity of 1,000MW in Peninsular Malaysia.

Asdion’s external auditor has issued an unmodified audit opinion with a material uncertainty related to the group’s ability to operate as a going concern.

Overnight, the US markets ended flat amid quarterly earnings and progress in vaccine deployment.

Earlier, European stocks climbed following corporate results announcements and political developments in Italy.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways below its resistance of 1,615 points,” JF Apex said.

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Hong Seng , Chin Hin , LPI , Icon , Widad , Asdion

   

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