Trading ideas: Green Packet, KNM, Sapura Energy, Hiap Teck

KUALA LUMPUR: Companies which could see trading interest on Wednesday following their corporate announcements include Green Packet, KNM, Sapura Energy, Sunway Holdings, IOI Corp, Hiap Teck, Poh Huat and LB Aluminium, JF Apex Research says

Green Packet has teamed up with Zico Holdings Inc and M24 Tawreeq Sdn Bhd to jointly submit an application for one of the five digital banking licences to be issued by Bank Negara Malaysia.

KNM’s shareholders have rejected its proposed private placement of up to 987.52 million new shares or 30% of its issued share capital to raise RM167.9mil.

Sunway has teamed up with Tencent-backed Chinese fintech firm Linklogis Inc and Bangkok Bank PCL to also apply for a digital bank licence from Bank Negara.

Sapura Energy said it posted a net loss of RM97.07mil for its 1QFY22, compared with a net profit of RM14.21mil a year earlier, dragged by the unfavourable effect of the US dollar exchange rate against the ringgit and lower share of profit from associates and joint ventures.

IOI Corp said it would comment on the report to be published by human rights group Finnwatch about its workers being mistreated by managers, living under poor conditions, and paying high recruitment fees.

Hiap Teck’s 3Q net profit surged 119% yoy, on higher steel prices, cost optimization efforts, and contribution from its joint venture entity.

Poh Huat saw its 2QFY21 net profit climb 82.61% yoy, on higher revenue from furniture shipments in Malaysia and Vietnam.

LB Aluminium recorded a net profit of RM13.26mil while revenue increased to RM144.84mil.

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Green Packet , KNM , Sapura Energy , Hiap Teck , Sunway


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