Trading ideas: Powerwell, MTouche, CMMT, Sedania, Kawan Food

KUALA LUMPUR: Stocks to watch on Tuesday include Powerwell Holdings Bhd, Mtouche Technology Bhd, Capitaland Malaysia Mall Trust (CMMT), Sedania Innovator Bhd, Serba Dinamik Holdings Bhd and Kawan Food Berhad, according to JF Apex Research.

Powerwell has bagged a US$2.135mil contract from Bangladesh-based firm Intraco Solar Power Ltd to supply low voltage switchboards and medium voltage switchgear panels using 33 kilovolt gas insulated switchgear for the latter's 30MW solar power plant project in Rangpur, Bangladesh.

Permaju Industries has emerged as a substantial shareholder of MTouche Technology after acquiring 185.05 million rights shares, together with 92.52 million free warrants in the mobile telecommunications group.

Green Ocean has proposed to raise an additional RM12.95mil from a private placement to fund the capital expenditure for its new glove business.

Unitholders of CMMT voted in favour of the real estate investment trust's (REIT) proposal to expand its asset classes to include business parks, logistics facilities, warehouses, distribution centres, data centres and integrated developments.

Sedania said its subsidiary has received RM1.5mil as settlement of a long overdue debt.

Serba Dinamik’s board had agreed in principle to appoint Ernst & Young Advisory Services Sdn Bhd (EY) as its independent reviewer to "assess veracity and accuracy" of the matters highlighted by external auditors KPMG PLT.

A subsidiary of Kawan Food has temporarily closed operations due to the spread of Covid-19.

Meanwhile, the US market was mixed overnight with the Dow slipping and the S&P and Nasdaq inching to record highs.

Earlier, European stocks advanced after industrial production data came in better than expected.

“Following the positive performances in the US and Europe, the FBM KLCI could extend its rebound with support at 1,550 points,” JF Apex said.

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Powerwell , MTouche , CMMT , Sedania , Kawan Food


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