Trading ideas: Haily Group, Kanger, MR DIY, TNB, MSM, AMMB

KUALA LUMPUR: JF Apex Research expects Haily Group Bhd, Kanger International Bhd, MR DIY Group (M) Bhd, Tenaga Nasional Bhd, Latitude Tree Holdings Bhd, MSM Malaysia Holdings Bhd and AMMB Holdings Bhd to be among the stocks to watch on Wednesday.

Haily Group makes its listing debut today on the ACE market of Bursa Malaysia.

Kanger International said its unit has entered into a deal for the purchase of five million doses of Sinopharm Covid-19 vaccine for distribution in Malaysia.

Mr DIY and Touch 'n Go Group announced several strategic collaborations to enhance customer experience across online and offline channels, while working on a more relevant approach to marketing through personalisation of offers using data and analytics capabilities.

Tenaga Nasional wants to collaborate with partners to drive EV adoption in Malaysia

Latitude Tree said it has temporarily halted operations at its manufacturing facilities in Malaysia and Vietnam due to Covid-19.

MSM said it will evaluate the interest in MSM Johor by any party with the prerequisite of an offtake guarantee.

The sugar refiner was responding to an article saying that Singapore-based Wilmar International Ltd might be looking to invest in an underutilised refinery in Johor owned by the group.

AMMB said its 51%-owned AmGeneral Holdings Bhd will be disposing of its entire 100% stake in AmGeneral Insurance Bhd to Liberty Insurance Bhd (LIB) for RM2.29bil, to be satisfied via cash and a 30% stake in LIB.

Konsortium Transnasional and six other companies linked to the group have succeeded in their lawsuit to get Tan Chong Motor to return all buses repossessed from them and to repay a sum of RM22.68mil.

Meanwhile, The US market rose overnight to stage a sharp rebound from Monday's selldown that was sparked by concerns of rising coronavirus cases.

Similarly, European stocks also rebounded amid the reporting season.

“Following the recent sluggish performance, the FBM KLCI could remain sideways above the support of 1,500 points,” JF Apex said.