Trading ideas: Solution Group, HB Global, Tasco

KUALA LUMPUR: Stocks that may see investor interest on Friday include Solution Group, HB Global, Tasco, MyNews, SHH Resources, Omesti, Microlink Solutions, Bermaz Auto, Top Glove and AMMB.

JF Apex Research said in its daily highlights that these stocks have made corporate announcements that may result in trading interest.

Solution Group has entered into a Supply Agreement with the Ministry of Health (MoH) involving Convidicea, Recombinant Novel Coronavirus Vaccine (Adenovirus Type 5 Vector).

This is to supply 3.5 million doses of the vaccine to MoH for the prevention of Covid-19.

HB Global is acquiring a 60% stake in Forward Resources & Construction Sdn Bhd (Forward Resources) for RM66mil.

According to the company, Forward Resources is expected to secure two 5G infrastructure projects, with an estimated gross profit margins of between 10% and 20%.

Tasco is partnering with MAB Kargo Sdn Bhd (MASkargo) to achieve the shared objective of an enhanced and seamless logistics delivery service for customers involved in the production of Covid-19 vaccines.

MyNews will be allocating a higher capital expenditure (capex) of RM50mil for the opening of all its operating four brands, namely myNEWS, myNEWS SUPERVALUE, WHSmith and CU.

According to MyNews CEO Dang Tai Luk, MyNews will be opening 500 CU stores in the next five years.

SHH Resources has proposed a bonus issue of about 50 million shares on the basis of one new share for every one existing share held on a date to be announced later.

Omesti has acquired a total of 4.94 million shares in Microlink Solutions from the open market for RM9.71mil, or an average RM1.97 per share.

Bermaz Auto is partnering with Kia Motors Corp to undertake manufacturing and distributing Kia vehicles in Malaysia.

Top Glove said following the recent findings against the group by the US Customs and Border Protection, no new additional issue on forced labour has been discovered.

However, some "rectification and verification works" are required on the earlier forced labour findings, the group said in a statement.

AMMB has proposed a private placement to raise an estimated RM810mil.

The group said it plans to issue up to 300 million new shares or 9.97% of its current share capital to raise additional funds to strengthen its core capital ratios.
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