Trading ideas: Amcorp Prop, SP Setia, Pharmaniaga, WCT

analyst reports123

KUALA LUMPUR: Amcorp Properties, SP Setia, Pharmaniaga, WCT, Genting, Malaysia Smelting Corp, Careplus and Pentamaster are among the stocks which could see trading interest on Monday after their corporate news, JF Apex Research said.

In its report on Monday, it said the major shareholders of Amcorp Properties have proposed to take the company private via selective capital reduction (SCR) and repayment exercise of 90 sen per share.

S P Setia is selling 960 acres of plantation land in Tebrau, Johor to Scientex for RM518.1 million.

Marine and General has secured an RM13 million work order award from PETRONAS Carigali Sdn Bhd for the provision of an anchor handling tug and supply vessel.

Pharmaniaga has proposed a bonus issue of 1.06 billion shares on the basis of four bonus shares for every share held on an entitlement date to be announced later, to reward its shareholders.

WCT has clarified that its, Subang Skypark Sdn Bhd, has proposed to re-concession and not to acquire the Sultan Abdul Aziz Shah Airport (formerly known as Subang Airport) as reported by several media organisations.

WCT also said that it plans to operate the airport the same way under a lease whereby the government would continue to own the land and Subang Airport.

EP Manufacturing has proposed to place out up to 31.6 million new shares in EPMB, representing up to 20% of its total shares, to third party investors to be identified later.

Genting Bhd-owned Resorts World Las Vegas, which is set to open on June 24,2021, is reported to have received the US’ Nevada Gaming Control Board’s licence approval recommendation.

The regulator’s chairman and commissioners endorsed the licence for approval on May 20,2021 by the five-member Nevada Gaming Commission.

Malaysia Smelting Corp returned to the black with a net profit of RM22.12 million in its1QFY21 against a net loss of RM13.19 million a year before, thanks to higher refined tin sales and more favourable average tin prices.

Careplus’ 1QFY21 net profit rose to a record high of RM123.54 million, nearly triple the RM42.3 million it posted in the immediate preceding quarter.

Pentamaster's 1QFY21 net profit slid 4.16% year-on-year, despite stronger revenue, as it incurred higher costs.

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