Trading ideas: Atlan, Cypark Resources, CIMB, Ireka, TAFI Industries and Yinson


KUALA LUMPUR: Stocks to watch for following recent corporate announcements include Atlan, Cypark Resources, CIMB, Ireka, TAFI Industries and Yinson, according to JF Apex Research.

Atlan has acquired the remaining stake, representing 15% shareholding plus one share, in duty-free retail arm DFZ Capital Sdn Bhd for RM45.8mil from Heinemann Asia Pacific Pte Ltd.

DFZ has outlets in various locations in Peninsular Malaysia including Padang Besar, Langkawi, Bukit Kayu Hitam, KLIA and Johor Bahru.

Cypark Resources has inked a Memorandum of Understanding with Huawei Technologies (Malaysia) Sdn Bhd for long-term cooperation on a total of 500MW renewable energy projects in and outside of Malaysia on an exclusive basis.

CIMB has disposed of another 24.99% and 25% of its shareholdings in CGS-CIMB Securities International Pte Ltd (CSI) and CGS-CIMB Holdings Sdn Bhd (CCH) respectively to China Galaxy Securities (CGS).

Ireka has secured an RM468mil contract from the Terengganu government to undertake a privatised housing development project in Kemaman.

TAFI Industries has proposed a bonus issue of 252.95 million new shares on the basis of two bonus shares for one existing share held besides a bonus issue of up to 63.24 million warrants on the basis of one warrant for every two existing shares.

Yinson said it has issued the entire RM1 billion sustainability-linked sukuk wakalah programme, which it said represents Malaysia’s first-ever sustainability-linked sukuk.

Meanwhile, JF Apex said the FBM KLCI could retest its psychological level of 1,500 points following th epositive sentiment in overseas markets.

US stocks continued their rebound overnight as investors grew less fearful of the potential economic impact from the new Omicron coronvirus variant.

Similarly, European stocks closed sharply higher on Tuesday as investors reacted to new developments relating to the omicron Covid variant.
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