Trading ideas: Mah Sing, Top Glove, Vitrox

KUALA LUMPUR: On Friday, investor attention could be focused on Mah Sing, Top Glove, Vitrox, Eupe Corp, Vizione, United Plantations, Brahim's, Key Asic, Kamdar and YTL Corp, said JF Apex Research in its daily highlights report.

Mah Sing has completed the testing and commissioning of its two glove production lines in its first glove manufacturing factory.

Top Glove has downsized its Hong Kong initial public offering to raise RM4.17 bil, down from the RM7.7bil initially.

Top Glove explained that the decision on raising less money in Hong Kong came after the glove maker took into account "the best interest of the existing shareholders of the company by minimising dilution to existing shareholders' respective shareholding".

Vitrox’s 1QFY21 net profit jumped 45.72% yoy, as its revenue climbed on strong demand for its machine vision system, one of its core products that are used in the semiconductor and electronics packaging industries for equipment inspection.

Eupe Corp’s 4QFY21 net profit rose 14.83% yoy, on the back of higher profit margins from its Northern Region projects.

Vizione returned to the black with a net profit of RM1.03mil in for its 1QFY21, boosted by its new healthcare division.

United Plantations' 1QFY21 net profit fell 7.84% yoy amid higher revenue.

Brahim’s yesterday received a payment default notice from OCBC Al-Amin Bank Bhd as the airline caterer was unable to fully settle the overdue rental sum of RM49.88mil as at April 1, 2021 under an Islamic financing facility granted by OCBC to Brahim’s, which has been contending with the impact of the Covid-19 pandemic.

Key ASIC has announced that the issuance of new shares under its private placement exercise has been fixed at 16.02 sen.

Kamdar said PKF Malaysia has resigned as its external auditor as the group intends to appoint another audit firm.

Willowglen MSC has won a RM7.8mil maintenance contract awarded by PowerGas Ltd in Singapore.

Kwasa Land, a wholly-owned subsidiary of the Employees Provident Fund Board and master developer of the Kwasa Damansara township, has tied up with YTL Corp to develop a residential project worth RM200mil.
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