Trading ideas: HeiTech, Sime Darby Plantation, AMMB, Advancecon, Uzma

KUALA LUMPUR: Heitech Padu Bhd, Sime Darby Plantation Bhd, AMMB Holdings Bhd, Advancecon Holdings Bhd and Uzma Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Heitech Padu has won a RM33.92mil contract to provide maintenance services for the Malaysian Immigration System (myIMMs).

Sime Darby Plantation has established an Expert Stakeholder Human Rights Assessment Commission, and appointed Impactt Ltd as a third-party assessor to conduct a comprehensive evaluation of the group’s labour practices across its Malaysian operations.

AMMB’s net profit for its 3QFY21 fell 30.96% to RM263.83mil from RM382.15mil a year ago, due to higher allowance for impairment on loans, advances, and financing.

Advancecon said it 30%-owned Advancecon Sarawak Sdn Bhd had bagged its single-largest contract worth RM153.5mil to undertake earthworks in the Samalaju Industrial Park, Bintulu, Sarawak.

Uzma is buying two companies involved in the solar energy business, marking the group's first foray into the fast growing industry.

The company said it had entered into separate deals to acquire a 49% stake in Suria Infiniti Sdn Bhd and a 100% interest in Mahendran Surya Innovations Sdn Bhd for a total of RM5.39mil.

Meanwhile, US markets rallied overnight after the 10-year US Treasury note yield dropped to 1.41% from a one-year high of 1.6% last week.

Similarly, European stocks posted sharp gains after US bond yields declined and progress in vaccination.

“ Following the bullish performance in Wall Street, the FBM KLCI could follow suit and stage a rebound towards the resistance of 1,615 points,” JF Apex said.

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HeiTech , Sime Darby Plantation , AMMB , Advancecon , Uzma


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