Trading ideas: Grand Hoover, Hubline, Aeon Credit, Vortex, LB Aluminium

KUALA LUMPUR: JF Apex Research expects Grand Hoover Bhd, Hubline Bhd, AEON Credit Service (M) Bhd, Vortex Consolidated Bhd and LB Aluminium Bhd to be among the stocks to watch on Wednesday.

Grand Hoover has accepted two letters of award from Pembinaan Tetap Teguh Sdn Bhd for two construction projects worth RM55.97mil.

Hubline's subsidiary Layang Layang Aerospace Sdn Bhd has been awarded a RM29mil contract to provide inspection and calibration services for the Civil Aviation Authority of Malaysia.

AEON Credit Service's 1QFY22 net profit ballooned by 521% year-on-year thanks to surge in other income, which comprises bad debts recovered, insurance commission and interest or profit income from deposits with licensed financial institutions.

Vortex is planning to raise up to RM33.8mil via private placement and warrant issuance mainly to fund a mixed property development project named The Louvre.

LB Aluminium has proposed to undertake a bonus issue of new ordinary shares on the basis of three bonus shares for every four existing shares of the company.

Glove counters such as Top Glove, Kossan, Hartalega as they are required to temporarily halt their operations of medical glove factories in Klang Valley following the imposition of the Enhanced Movement Control Order (EMCO) in the district.

TSH Resources plans to dispose of two oil palm estates and one palm oil mill in Sabah for a total cash consideration of RM248mil.

Overnight, the US market was mixed with the Dow and S&P falling slightly while the Nasdaq posted small gains as investors waited for the release of the Federal Reserve meeting minutes to gauge the direction of its monetary policy.

Earlier, European stocks declined as oil price declined after OPEC+ talks were abandoned and Germany's industrial orders unexpectedly declined.

“Following the recent flattish trend, the FBM KLCI could remain sideways above the support of 1, 530 points, ” JF Apex said.

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