Trading ideas: Kelington, NCT, Bintai Kinden, TM, TNB

KUALA LUMPUR: Stocks to watch on Wednesday include Kelington Group Bhd, NCT Alliance Bhd, Bintai Kinden Corp Bhd, Telekom Malaysia Bhd and Tenaga Nasional Bhd, according to JF Apex Research.

Kelington has clinched a new ultra high purity (UHP) contract worth RM49mil to undertake the bulk gas system distribution works for a semiconductor manufacturer’s new fabrication plant in Singapore.

NCT Alliance posted a net profit of RM9.48mil for the second quarter ended June 30, 2021, compared with a net loss of RM417.000 a year earlier, on the back of a higher revenue of RM49.2mil versus RM18.88mil previously.

Bintai Kinden has via its unit Bintai Healthcare Sdn Bhd, inked a deal with NGT Solutions (M) Sdn Bhd (NGTS) to jointly distribute Sinopharm's Covid-19 vaccine to the private sector in Malaysia.

Telekom Malaysia is partnering with India’s Tata Communications Ltd to provide IP transit services in the ASEAN region. TM said they will offer stable, high-speed and reliable connectivity in the region and open access to global enterprises.

Tenaga Nasional has received a letter of notification from the Ministry of Energy and Natural Resources to develop a hydroelectric power plant with a capacity of 300MW at Gua Musang, Kelantan.

JAKS Resources posted a 13-fold increase in its net profit to RM28.81mil for the second quarter ended June 30, 2021, from RM2.17mil a year ago, supported by its RM37.5mil share of profit from its 30%-owned power plant joint venture in Vietnam.

Scope Industries has proposed a bonus issue of free warrants on the basis of three warrants for every 10 shares held.

Microlink Solutions is expected to raise gross proceeds of up to RM58.22mil via a proposed private placement of up to 10% of the total number of issued shares in the company.

Reservoir Link Energy said its newly-acquired subsidiary has received a purchase order for subcontracting works for the proposed development of an 100mw large scale solar (LSS) plant in Marang, Terengganu.

Meanwhile, the US market was mixed overnight with the Dow and S&P falling while the Nasdaq eked out small gains to extend its record high.

Earlier, European stocks declined ahead of the European Central Bank meeting on Thursday.

“Following last week's profit taking, the FBM KLCI could consolidate below the resistance of 1,600 points,” JF Apex said.

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Kelington , NCT , Bintai Kinden , TM , TNB


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