Trading ideas: Pekat, Yinson, Astro, TCS, Mulpha International

KUALA LUMPUR: Stocks to watch on Wednesday include Pekat Group Bhd, Yinson Holdings Bhd, Astro Malaysia Holdings Bhd, TCS Group Holdings Bhd and Mulpha International Bhd according to JF Apex Research.

Pekat Group makes its listing debut today on the ACE market.

Yinson has agreed to collaborate with Chile-based renewable energy developer Verano Capital Holdings SpA to undertake renewable energy projects in Chile, Colombia and Peru.

The JV has initially targeted to progress a pipeline of over 800 megawatt (MW) of utility scale solar projects, of which 330MW are expected to be consented to within the next six to 12 months.

Astro saw its net profit in its 1QFY22 increase 91% y-o-y to RM141.25mil from RM73.84mil.

TCS Group has secured a RM555mil contract for a mixed-use development project known as J.Satine in Setapak.

Mulpha Credit Sdn Bhd, an indirect wholly-owned subsidiary of Mulpha International, has entered into a transaction to dispose of its entire equity interest in New Zealand’s Education Perfect Group Limited (EPGL).

The disposal represents the entire 37.81% in EPGL for NZ$455mil or approximately RM1.31bil.

Willowglen MSC has won a contract worth RM10.99mil for the maintenance of Singapore's East-West Cable Tunnel Scada System, including system enhancements.

Daibochi saw its 3QFY21 net profit declined slightly by 5.35% to RM10.26mil from RM10.84mil in the previous year due to higher raw material prices recorded in the period.

Meridian said its external auditors UHY has voluntarily resigned, effective June 15, 2021.

Meanwhile, the US market rose overnight with the Nasdaq hitting a record high after Federal Reserve Chairman Jerome Powell testified before the House of Representatives and reiterated that inflation pressures will be temporary.

Earlier, European stocks advanced after European Central Bank President Christine Lagarde gave markets a boost by offering an optimistic outlook for the euro zone economy.

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

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Pekat , Yinson , Astro , TCS , Mulpha International , Daibochi


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