Trading ideas: Yinson, Favelle Favco, Deleum, Advancecon

KUALA LUMPUR: Stocks that could be on investors' radar screen on Wednesday include Yinson, Favelle Favco, Deleum, Advancecon, Spring Energy Resources, Key ASIC, Globetronics, SCIB, Ancom and Nylex.

JF Apex Research said in ints daily highlights notes that these stocks could be in the spotlight following from corporate news flow.

Yinson has signed a term sheet with GreenTech Malaysia Alliances Sdn Bhd, a wholly-owned subsidiary under the Malaysian Green Technology and Climate Change Corporation, to accelerate the development of electric vehicle (EV) charging infrastructure in Malaysia.

Favelle Favco has secured purchase orders for tower cranes, offshore cranes, supervisory control and data acquisition system with a combined value of RM37.1mil.

Deleum has bagged two contract extensions from Petronas Carigali Sdn Bhd (PCSB) for the provision of slickline equipment and services and provision of gas lift valves (GLV) & insert strings equipment, accessories and services.

Advancecon has received its shareholders’ nod to acquire a 51% controlling stake in quarry operator Spring Energy Resources Bhd for RM30.4mil.

Key ASIC has started the design of 14 nanometre (nm) chips and intellectual property (IP) for use in automotive, as well as computer and communication applications.

Unisem's net profit for its 3QFY2021 fell 20.64% yoy mainly due to lower revenue from the group’s operations in Ipoh, which was impacted by the closure of the plant and headcount limitation imposed during the quarter under review.

Globetronics' 3QFY21 net profit slipped 9.8% yoy due to lower volume loadings from certain customers and a drop in economies of scale.

SCIB said Bursa Malaysia Securities has rejected its application for an extension of time until Dec 31 to issue its annual report for the year ended June 30, 2021.

Shareholders of Ancom gave the green light for the company to take over all assets and liabilities of Nylex for RM179.3mil (RM1 per Nylex share) at the group’s extraordinary general meeting on Tuesday.

Meanwhile, JF Apex expects the FBM KLCI to consolidate and trend sideways below the resistance of 1,610 points following the recent pull back.

The country's key index fell 3.74 points to 1,584.2 points yesterday, marking a fourth straight session of declines.

In the US, the Dow Jones and S&P500 inched to fresh record highs amid positive corporate earnings.

European stocks were also higher as investors monitored quarterly results and inflations, reported JF Apex.

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