Trading ideas: BCM, Kelington, Cypark, Xin Hwa, Axis REIT, Techfast, FGV

KUALA LUMPUR: Stocks to watch on Tuesday include BCM Alliance Bhd, Kelington Group Bhd, Cypark Resources Bhd, Xin Hwa Holdings Bhd, Axis Real Estate Investment Trust, Techfast Holdings Bhd and FGV Holdings Bhd, according to JF Apex Research.

BCM Alliance will be supplying 10 million Covid-19 RTK Antigen test kits worth US$80mil (RM320mil) to Thailand over a one-year period.

Kelington via wholly-owned subsidiary Kelington Engineering (Shanghai) Co Ltd (KESH) has secured a RM37.9mil contract to perform gas hook-up works for Ruili Integrated Circuit Co Ltd's memory chip wafer fabrication project in Hefei, which is the capital of China's Anhui province.

Cypark said it has entered into a cooperation agreement with the Johor government to participate in a waste-to-energy project in Batu Pahat.

Xin Hwa has entered into a deal to dispose of two plots of land with a warehousing facility in Pasir Gudang, Johor measuring 6.57ha to Axis REIT for RM75mil cash.

Techfast has bagged a contract worth an estimated RM2.2bil to supply a range of marine fuel oils over a three-year period to Singapore-based integrated marine fuel logistics provider Wise Marine Pte Ltd.

The Federal Land Development Authority (Felda) has failed in its initial bid to take FGV Holdings private, having secured only 81% of shares in FGV upon the deadline of its mandatory general offer.

Lay Hong, which saw its Jeram 1 farm suspended due to the detection of Salmonella enteritidis (SE), said it can only quantify the revenue lost upon completion of the investigation by the Department of Veterinary Services.

Comfort Gloves’ 4QFY21 net profit rose 1,246% year-on-year to a record RM137.87mil, underpinned by higher sales volume and average selling prices.

Notion VTec's 1QFY21 net profit fell 55.06% year-on-year, mainly due to the absence of insurance claims.

SCIB has secured an EPCC contract worth RM135mil.

EA Technique made a huge loss in the last quarter on lesser charter hire and additional impairment charges on its vessels.

For the three-month ended Dec 31, EA Technique reported a net loss of RM50.17mil on revenue of RM55.5million. The company expects another tough year ahead, as it predicted fewer spot charter and lower charter prices.

Meanwhile, the US market advanced overnight with the Dow and S&P climbing to record closings amid high bond yields and progress in vaccination.

Earlier, European stocks ended mixed as investors awaited the outcome of the 2-day US Federal Reserve policy meeting.

“Following the gains in Wall Street, the FBM KLCI could remain positive above the support of 1,615 points,” JF Apex said.

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