Trading ideas: Reservoir Link, Pecca, Icon, NPC, MY EG,


KUALA LUMPUR: Reservoir Link, Pecca, Icon Offshore, NPC Resources, MY EG, KNM, George Kent and MRCB are among the companies which could attract trading interest on Wednesday after the release of their corporate news, JF Apex Research said.

Reservoir Link Energy has secured a contract from Sarawak Shell Bhd/Sabah Shell Petroleum Company Ltd for the provision of slickline equipment and services.

Pecca said its board had resolved to declare an interim dividend via a share dividend distribution of treasury shares on the basis of one treasury share for every 41 existing shares held in the financial year ending June 30, 2022.

Icon Offshore has secured a contract extension for the provision of its jack-up drilling rig involving works for four wells.

PCCS is kicking off its hire purchase business this month with a RM5mil loan book and expecting this division to start contributing to the group's revenue in the current financial year ending March 31, 2022.

NPC Resources is withdrawing its offer to sell its Sabah oil palm plantation land to IOI Corp as the company is unable to accept IOI Corp’s revised purchase price for the assets.

KNM has secured a contract worth RM13.4mil to build a pre-fabrication tank for a combined cycle power generating facility of up to 1,200MW at Pulau Indah, Selangor.

George Kent accepted MRCB’s RM53mil cash offer for its 50% stake in MRCB George Kent Sdn Bhd (MRCBGK). MRCBGK is a 50:50 joint venture (JV) company between MRCB and George Kent and is the turnkey contractor of the RM16.6bil Light Rail Transit Line 3 (LRT3) project.

MYEG said its 40%-Philippines joint venture (JY) I-Pay MYEG Philippines Inc (MYEG Philippines) is rolling out two e-government services in the Philippines — the online payment of income tax to their Bureau of Internal Revenue, and the payment of fees to the Philippine Economic Zone Authority (PEZA).

Boustead Plantations has proposed to sell Kulai Young Estate in Johor for RM429mil to YTL Power’s 70%-owned SIPP Power Sdn Bhd. The group expects to realise an estimated RM323mil upon completion of the disposal of the 664ha of plantation land.

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