Trading ideas: IJM Corp, Bioalpha, Rhone Ma, Mercury, Glomac, Gadang

KUALA LUMPUR: IJM Corp, Bioalpha, Rhone Ma, Mercury Industries, Glomac and Gadang are among the stocks to watch on Thursday after their corporate announcements, JF Apex Research says.

IJM Corp plans to distribute a potential special cash dividend of 15 sen per share or RM542 million to its shareholders after completion of its entire 56.2% stake sale in IJM Plantations Bhd to Kuala Lumpur Kepong Bhd for RM1.53bil.

Bioalpha has partnered a laboratory in South Sudan to undertake a Covid-19 testing programme at the border entry points in the country.

Rhone Ma has been appointed as the exclusive distributor of Canada-based Citest Diagnostics Inc’s Covid-19 antigen rapid test kit in Malaysia.

Mercury Industries has secured an RM450mil contract from Solusi Kelana Sdn Bhd for piling, substructure, superstructure and infrastructure works in Johor.

Lotte Chemical Titan’s 2QFY21 net profit retreated 13.11% q-o-q, as higher feedstock prices started to catch up with the rise in selling prices of its petrochemical products.

Glomac posted a net profit of RM4.77mil for its 4QFY21 versus a net loss of RM8.59mil a year earlier, amid a pick-up in construction activities after the Movement Control Order (MCO).

Gadang returned to the black in its 4QFY21 by posting a net profit of RM3.7mil from a net loss of RM259,000, driven by profit from its construction and utility divisions.

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