Trading ideas: MPay, PLUS Malaysia Bhd, Scientex, TAFI Industries

KUALA LUMPUR: Stocks with recent corporate news flow that could attract investor interest on Thursday include MPay, PLUS Malaysia Bhd, Scientex, TAFI Industries, Gamuda, Petronas Gas, WZ Satu, Sapura Energy and Edaran, said JF Apex Research.

MPay has signed a deal with PLUS Malaysia Bhd to provide services relating to software application development, merchant application, systems integration, payment terminals roll-out and Internet Payment Gateway PLUS Group's business partners operating along highways, operated by PLUS Group.

Scientex reported an 11.2% rise in net profit to RM102.87mil for the first quarter ended Oct 31, 2021 from RM92.53mil a year ago, on the back of a 15.7% increase in revenue to RM928.17mil from RM802.26mil.

TAFI Industries has been awarded a RM30mil contract by Buana Tunggal Sdn Bhd to build a mixed commercial development project at Permas City, Johor Bahru.

It will also be entitled to a 30% share of the net gross development value proceeds of certain units of properties under the Permas City project, which is estimated to be around RM6mil.

Gamuda is aiming to achieve RM10 billion worth of new orders for its current financial year ending July 31, 2022 as it expressed cautious optimism amid the steady economic recovery seen following the easing of movement restrictions.

PetGas said its board has approved a final investment decision amounting to an estimated RM460mil for the construction of a new gas compressor station in Kluang, Johor, as part of its gas transportation business.

WZ Satu has signed a joint development agreement with Perbadanan PR1MA Malaysia (PR1MA) to develop 763 units of affordable two-storey terraced houses, as part of Residensi D’Marina Phase 2 in Kuantan, with an estimated gross development value of RM219mil over four to five years.

Sapura Energy has acknowledged it is facing short-term cash flow and liquidity issues, exacerbated by Covid-19.

Edaran has bagged a one-year contract worth RM41.34mil to undertake hardware and server software maintenance work for the Customs Department’s Customs information system (SMK), sales and service tax system (MySST) and tourism tax system (My TTX).

Meanwhile, JF Apex Research said the FBM KLCI could remain sideways above the support of 1,480 in the absence of any catalyst. The benchmark index has dropped 3.94 points yesterday to 1,494.03 points.

The US markets were slightly positive overnight after Pfizer and BioNTech said their booster dose has a high level of protection against the Omicron variant.

However, European stocks declined ater contrasting views on the Omicron variant.
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