Trading ideas: MyEG, UEM Edgenta, Astro, CBIP, KTB


KUALA LUMPUR: My E.G. Services Bhd (MyEG), UEM Edgenta Bhd, Astro Malaysia Holdings Bhd, CB Industrial Product Holding Bhd and Konsortium Transnasional Bhd are among the stocks to watch on Friday, according to JF Apex Research.

MYEG said its unit MYEG Medical Services Sdn Bhd has received approval from the Health Ministry for the deployment of Breathonix's BreFence Go Covid-19 Breath Test System (BreFence Go).

UEM Edgenta said that its indirect wholly-owned Edgenta Healthtronics Sdn Bhd has inked a Memorandum of Understanding (MoU) with Universiti Teknologi MARA (UiTM) to explore potential collaboration and opportunities in the digital healthcare space.

Astro Malaysia's 3QFY22 net profit rose 21.57% quarter-on-quarter, thanks to lower net finance costs and tax expenses.

On a year-on-year basis, Astro's net profit dropped 35.62%, as revenue fell 7.64%. Astro declared a third interim dividend of 1.5 sen per share to be paid on Jan 7.

CB Industrial Product has decided to dispose of its 70% stake in biodiesel producer Gulf Lubes Malaysia Sdn Bhd (GLM) for RM55mil to resolve GLM's management deadlock.

The group is selling the stake to India-based Kaashi Visweshwara Minerals Pvt Ltd, which is principally engaged in mining of iron ores.

Konsortium Transnasional has secured an RM26.45mil contract to build 59 units of shophouses in Perak from United Allied Development Sdn Bhd.

Meanwhile, the US market declined overnight despite better-than-expected jobless claims data as investors waited for the November inflation data later today.

Similarly, European stocks dropped as investors monitor developments around the Omicron variant.

“The FBM KLCI could remain sideways above the support of 1,480 points amid ongoing uncertainty,” JF Apex said.

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