Trading ideas: Malakoff, G Capital, Sedania, Pelikan, Boustead Plantations


KUALA LUMPUR: JF Apex Research expects Malakoff Corp Bhd, G Capital Bhd, Sedania Innovator Bhd, Pelikan International Corp Bhd and Boustead Plantations Bhd to be among the stocks to watch on Wednesday.

Malakoff’s subsidiary Malakoff Radiance Sdn Bhd has completed the signing of six solar power purchase agreements (SPPAs) for the development of rooftop solar energy systems with companies under the DRB-Hicom.

G Capital has proposed renounceable rights issue of redeemable convertible unsecured loan stocks (RCULS) to raise up to RM102.62mil to part finance its 52.6 megawatt renewable energy projects.

Sedania Innovator's 51%-owned subsidiary Offspring Inc, which produces baby products including eco-friendly diapers and biodegradable wet wipes, is expanding into Thailand to further expand Offspring's global presence.

Pelikan, which earlier disposed of its logistics centre in Germany for a cash consideration of €81mil (RM399.33mil), has decided to distribute a special dividend of 20 sen per share to its shareholders.

Boustead Plantations said that it has yet to engage with any interested party over its plan to sell its Sarawak estates.

Meanwhile, the US market declined overnight after inflation grew at its fastest pace in 13 years with CPI of 5.4%, beating economists' expectations of 5%.

Earlier, European stocks ended mixed following concerns over US' inflation and Covid-19 while the UK will lift all remaining restrictions on July 19.

“Following the recent lacklustre performance, the FBM KLCI could remain sideways above the support of 1, 500 points amid concerns over rising coronavirus cases locally, ” JF Apex said.

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