Trading ideas: Pharmaniaga, IJM, RCE, Jade Marvel, Tri-Mode System

KUALA LUMPUR: JF Apex Research expects Pharmaniaga Bhd, IJM Corp Bhd, RCE Capital Bhd, Jade Marvel Group Bhd, Tri-Mode System (M) Bhd and Fintec Global Bhd to be among the stocks to watch on Friday.

Pharmaniaga has secured a Letter of Acceptance (LoA) from the Ministry of Health to supply an additional six million doses of the Sinovac Covid-19 vaccine.

IJM Corp has secured an RM258mil contract for construction works of the East Coast Rail Link (ECRL) project located in Temerloh, Pahang.

RCE Capital’s net profit for the first quarter ended June 30, 2021 surged 55.04% to RM35.39mil from RM22.82mil a year ago, on the back of higher early settlement, net fee income, as well as lower allowances for impairment loss on receivables.

Jade Marvel has entered into a Memorandum of Understanding with Tenaga Era Baru Sdn Bhd for the establishment of a collaboration between the parties in securing development or construction projects such as land reclamation.

Tri-Mode System is acquiring a parcel of land measuring 234,432 sq ft for RM15.94mil to expand its warehouse in Pulau Indah Industrial Park.

Fintec Global has proposed a private placement to raise up to RM19.2mil for the construction of a factory for its glove business.

Meanwhile, the US market posted slight gains with the Dow and S&P extending their record highs following jobless claims and PPI data.

In Europe, equities were also slightly positive as gains were capped by concerns over the coronavirus.

“Following the recent gains, the FBM KLCI could extend its rebound towards the resistance of 1,530 points,” JF Apex said.

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Pharmaniaga , IJM , RCE , Jade Marvel , Tri-Mode System


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