Trading ideas: Minetech, Handal Energy, Duopharma, SCIB, UEM Edgenta

KUALA LUMPUR: Stocks to watch on Tuesday include Minetech Resources Bhd, Handal Energy Bhd, Duopharma Biotech Bhd, Sarawak Consolidated Industries Bhd (SCIB) and UEM Edgenta Bhd, according to JF Apex Research.

Minetech has won a RM33.69mil contract to undertake construction work for the second phase development of the Sarawak Islamic Skills Institute.

Handal Energy has secured a new contract from Malaysia LNG Sdn Bhd for the provision of pipeline isolations services.

Duopharma has reported a 29.9% year-on-year increase in net profit for its 1QFY21 on the back of higher sales in the consumer healthcare sector.

In a separate filing, Duopharma said it had proposed to undertake a bonus issue of up to 239.9 million new shares on the basis of one bonus share for every three existing shares.

Tashin's net profit for 1QFY21 surged 16-fold to RM12.23mil from RM724,000 a year earlier, on higher demand for its steel products as well as selling prices.

SCIB plans to raise up to RM227.8mil via its latest private placement. The group will place up to 20% of its issued shares to third party investors to be identified later, at a yet to be determined issue price.

UEM Edgenta has been slapped with a RM18.7mil penalty by the Inland Revenue Board (IRB) for the years of assessment 2015 to 2018.

A penalty of RM9.64mil imposed on MyEG by the Malaysia Competition Commission (MyCC) for violating competition law and having a dominant position in relation to the sale of mandatory insurance for online applications of temporary employment permits for foreign workers was upheld.

Meanwhile, the US market was mixed overnight as states continued to reopen the economy amid vaccine rollout.

Earlier, European stocks climbed following positive Germany retail sales growth.

“Following the recent lackluster performance and rising Covid-19 cases locally, the FBM KLCI could retest its support of 1,560 points,” JF Apex said.

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Minetech , Handal Energy , Duopharma , SCIB


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