Trading ideas: Ekovest, GHL, Comfort Gloves, AirAsia, MMC, Pharmaniaga

KUALA LUMPUR: Stocks to watch on Tuesday include Ekovest Bhd, GHL Systems Bhd, Comfort Gloves Bhd, AirAsia Group Bhd, MMC Corp Bhd, Lay Hong Bhd and Pharmaniaga Bhd, according to JF Apex Research.

Ekovest said its proposed acquisition of 96.28 acres of freehold land in Pulai, Johor from Iskandar Waterfront Holdings Sdn Bhd for RM1.11bil has fallen through.

GHL Systems is partnering with fintech company Split to offer a buy now, pay later (BNPL) service for its merchant base in Malaysia.

This new service will allow businesses to offer their customers instalment payments with a choice of up to three monthly instalments sale, said the group.

Comfort Gloves managing director Cheang Phoy Ken has ceased to be a substantial shareholder in the company, after selling 32 million shares or a 5.49% stake in the glovemaker, off-market.

AirAsia announced it has entered into a memorandum of understanding with Aimia Holdings UK II Ltd, to buy the remaining 20% equity interest in BigLife Sdn Bhd held by the latter for RM103.04mil.

The low cost carrier said the acquisition will be settled by issuing 85.86 million new AirAsia Group shares, which is equivalent to a 2.2% stake, to Aimia at RM1.20 per share.

MMC is acquiring Tradewinds Corp Bhd's 50% stake in developer Retro Highland Sdn Bhd for RM250 million cash, in a related-party transaction.

The suspension of Lay Hong's production from its Jeram 1 farm in Selangor was lifted, as all of the group's farms are declared free of Salmonella Enteritidis (SE).

Pharmaniaga has inked an agreement with the government to supply and distribute 200,000 doses of imported Sinovac Covid-19 vaccine as finished products.

Ann Joo's 4QFY20 net profit fell 68% year-on-year on the back of lower revenue due to lower sales tonnage and higher overhead cost, amid plant shutdowns as a result of restrictions within the Movement Control Order.

George Kent's 4QFY21 net profit more than doubled to RM14.29mil from RM6.76mil a year ago, boosted by higher share of results of joint venture in its engineering division.

CBIP saw its 4QFY20 net profit surge 178% year-on-year, thanks to its oil palm plantations segment.

Meanwhile, the US market climbed overnight with technology counters leading the gains as the 10-year Treasury yield came off at 14-month high.

European stocks also advanced but investors are monitoring the situation in Turkey after President Erdogan's surprise move to replace the central bank chief.

“Following gains in Wall Street, the FBM KLCI could bounce off the immediate support of 1,615 points,” JF Apex said.

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Ekovest , GHL , Comfort Gloves , AirAsia , MMC , Pharmaniaga


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