Trading ideas: Genting Group, Sime Darby, Cypark Resources


KUALA LUMPUR: Stocks that could see active trading action on Monday include Genting Group, Sime Darby, Cypark Resources, Greatech, Careplus, Sunsuria, Tashin, IJM, Digi and Maxis.

Genting Group Bhd, which will open Resorts World Las Vegas on June 24, are among companies keen on a Chicago casino resort project, according to a report.

Iskandar Waterfront Holdings Sdn Bhd is said to be interested in a merger with IJM Corp, based on a news report.

Sime Darby's 36.63%-owned joint venture company Weifang Port Services Co Ltd (WPS) has entered into an agreement with CCCC Tianjin Dredging Co Ltd to settle 187 million yuan (RM118miln) interest on late payment by WPS.

Careplus is seeking to transfer its listing status to the Main Market of Bursa Malaysia.

Cypark Resources has inked an agreement with the Melaka State government to participate in a Waste-To-Energy public-private partnership at Sungai Udang, Melaka.

Sunsuria's subsidiary Sunsuria City Sdn Bhd (SCSB) has revoked the deal to sell a piece of land in Salak Tinggi, Putrajaya South to its 60%-owned joint venture (JV) company Sunsuria Everrich Sdn Bhd (SESB).

This is because SCSB's JV partner Welcome Global Co Ltd is unable to pay the remaining sum for the land purchase.

Digi’s 1QFY21 net profit fell 20.23%, adversely impacted by mark-to-market adjustments on interest rate swaps.

Maxis’ 1QFY21 net profit slipped 6.4% yoy due to lower revenue which declined by 4.8%.

Greatech’s 1QFY21 net profit jumped 152.25% yoy mainly due to a higher reversal of unused provision for warranties of RM8.49mil made in the prior years, as well as favourable gross margin mix benefits realised from engineering design works.

Tashin is acquiring land and buildings next to its existing factory in Perai, Penang, for RM43.5mil as it seeks to increase its production capacity to process slit coils, steel sheets and steel products.
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