Trading ideas: Revenue Group, Freight Management, Nestcon, Dolphin, Salutica


KUALA LUMPUR: Stocks to watch on Tuesday include Revenue Group Bhd, Kenanga Investment Bank, Freight Management Holdings Bhd, Nestcon Bhd, Dolphin International Bhd, Salutica Bhd, Ivory Properties Group Bhd and Straits Inter Logistics Bhd, according to JF Apex Research.

A consortium comprising Revenue Group, Sarawak State and Kenanga Investment Bank has submitted its application for a digital banking licence from Bank Negara Malaysia.

Freight Management is buying two pieces of vacant industrial land in Klang for RM56.84mil or RM140 per sq ft.

The freehold land, measuring a combined 405,979 sq ft or 4.67 acres, will be used for the expansion of its third party logistics warehousing and distribution services, which include e-commerce fulfilment and parcel delivery services.

Nestcon has won a subcontract worth RM25.08mil in relation to the construction of an access road connecting to Sungai Pulai Bridge for the proposed Petrochemical & Maritime Industry Centre development in Tanjung Bin, Pontian, Johor.

Dolphin International plans to raise about RM24.17mil through a private placement, equivalent to 35% of its market capitalisation of RM70mil, to fund its food and beverage business, to repay borrowings and for the group's working capital.

Salutica plans to raise up to RM19.4mil via a placement of 38.8 million shares, equivalent to 10% of its issued share capital, mainly to fund the expansion of the group's product range.

Ivory Properties has teamed up with ECK Development Sdn Bhd to jointly develop residential components at AirportCity and Aerotropolis in Kedah.

Straits Inter Logistics said its unit Victoria STS (Labuan) Sdn Bhd has received approval from the Marine Department to develop an integrated offshore ship-to-ship (STS) transhipment hub within the port limits of Victoria Bay, Labuan.

Pecca is buying a majority stake in a supplier of face mask and Covid-19 test kits for RM100mil.

The company said the purchase of a 51% stake in Rentas Health Sdn Bhd from Teoh Zi Yuen, who is an executive director at Pecca, will be satisfied by RM50mil cash and the issuance of RM50mil worth of new Pecca shares (11.99 million new Pecca shares issued at RM4.17 each).

Meanwhile, U.S. stocks gave up early gains and turned negative for the session on Monday as concerns about Covid variants and peaking economic growth weighed against strong earnings results.

Earlier, European stocks closed higher, tracking positive sentiment around the world as deal speculation and earnings drove significant share price moves.

“Following the recent lacklustre sentiment, the FBM KLCI could remain sideways above the support of 1,475 points,” JF APex said.

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