Trading ideas: MK Land, Axiata, Straits Energy, Handal

KUALA LUMPUR: Companies which could see trading interest on Tuesday following their corporate actions are MK Land, Axiata, Straits Energy, Aemulus, Handal and AirAsia X, says JF Apex Research.

MK Land's 4QFY21 net profit soared 275.9% on-year, supported by a jump in other operating income, particularly from its property development segment.

Axiata's Axiata Investments (Indonesia) Sdn Bhd is selling a 5% stake in Indonesia-listed arm PT XL Axiata Tbk to Ferrymount Investments Ltd (FIL) for 1.44 trillion rupiah (RM423.5mil) or 2,700 rupiah (79 sen) per share.

Straits Energy Resources has teamed up with Singapore-based Seashore Technologies Pte Ltd to explore wireless network communication business opportunities in Malaysia and regionally.

Aemulus has clinched new orders worth RM4.5mil for the delivery of test systems for the enterprise storage market.

Handal Energy has bagged a five-year contract from ExxonMobil Exploration and Production Malaysia Inc to provide crane overhaul, repair and refurbishment.

AirAsia X, which is in the midst of its debt restructuring exercise, booked a net loss of RM24.63bil for the April-June 2021 quarter, on provision for the amount payable to creditors.

AWC posted a 4QFY21 net profit of RM2.68mil versus a net loss of RM29.9mil a year ago, on higher operating income and lower other operating expenses.

MyNews has booked another quarterly net loss of RM14.92mil for its 3QFY21 on weaker retail performance, which also dragged its food processing division into the red.

Dolomite has applied for a judicial management order which will enable the company to undertake a financial restructuring scheme in a bid to prevent it from being wound up after it was served with a notice by the solicitors of Maybank International Labuan Branch over debts amounting to US$38.19mil (RM160mil).

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