Trading ideas: MyEG, Minetech, Yinson, Datasonic, Nexgram, Vivocom

KUALA LUMPUR: JF Apex Research expects My E.G. Services Bhd, Minetech Resources Bhd, Yinson Holdings Bhd, Datasonic Group Bhd, Nexgram Holdings Bhd and Vivocom International Holdings Bhd to be among the stocks to watch on Thursday.

MyEG said net profit rose 6.74% to RM75.51mil in the fourth quarter ended Dec 31, 2021 from RM70.74mil in the preceding quarter, boosted by revenue from Covid-19 health screenings, and online motorcycle insurance and road tax renewal service.

Minetech has registered as a solar photovoltaic (PV) investor (RPVI) with Sustainable Energy Development Authority Malaysia (SEDA) under the Net-Energy Metering (NEM 3.0) Programme.

Yinson has bagged a contract worth an estimated 27.5 billion rupees (RM1.5bil) to develop a 190MW grid-connected solar photovoltaic power project in the Nokh Solar Park in India’s Rajasthan state.

Datasonic has teamed up with a Vietnamese company to bid for various e-passport and other information and communications technology (ICT) projects in Vietnam.

Nexgram has proposed to cancel RM142.6mil of its issued share capital, in a move to reduce the group’s accumulated losses.

Vivocom has proposed a private placement to raise gross proceeds of up to approximately RM99.37mil, paired with one-for-three bonus warrants.

Meanwhile, US markets declined overnight after 10-year Treasury yield rose to 1.49% while President Joe Biden said there will be enough vaccines for all adults by May.

Earlier, European stocks advanced after the UK's budget announcement with 65 billion pounds worth of fiscal stimulus.

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

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MyEG , Minetech , Yinson , Datasonic , Nexgram , Vivocom


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