Trading ideas: Genting, Minetech, IJM, KLK, Uzma

KUALA LUMPUR: Genting Bhd, Minetech Resources Bhd, IJM Corp Bhd, Kuala Lumpur Kepong Bhd, Uzma Bhd and Yong Tai Bhd are among the stocks to watch on Monday, according to JF Apex Research.

Genting’s subsidiary Genting Singapore filed an announcement to SGX stating that it has submitted a bid in response to the Yokohama City request for proposal (RFP) for an integrated resort (IR) project.

Minetech Resources’ 55%-owned subsidiary Konsep Khas Sdn Bhd has accepted a letter of award from total communications infrastructure solutions provider Valsa (Sarawak) Sdn Bhd for a sub-contract work.

IJM Corp has agreed to sell its entire 56.2% stake in subsidiary IJM Plantation to KLK for RM1.53bil cash, or RM3.10 per share.

The disposal is expected to reap the group a disposal gain of RM700mil.

Uzma has bagged its first overseas chemical supply contract worth US$3mil in Thailand, through its wholly-owned subsidiary MMSVS Group Holding Co Ltd.

Yong Tai has announced that its subsidiary YTB Healthcare Sdn Bhd received the first batch of an inactivated Covid-19 vaccine developed by China-based Shenzhen Kangtai Biological Products Co Ltd.

Reservoir Link Energy is looking to diversify its business and enter the solar energy business. The group said it has signed a share sale agreement with Lee Seng Chi to acquire a 51% stake in Founder Synergy Sdn Bhd for RM21.17mil.

Meanwhile, the US market posted slight gains on Friday with the S&P hitting a record high as investors shrugged off concerns over the latest inflation data.

Similarly, European stocks also advanced after the UK's GDP came slightly above expectations.

“Following the recent flattish performance, the FBM KLCI could extend its sideways trend above the support of 1,550 points,” JF Apex said.

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Genting , Minetech , IJM , KLK , Uzma


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