Trading ideas: Sime Darby, Tenaga, Dataprep, Bintai Kinden, Ireka


KUALA LUMPUR: Stocks that may price action on Wednesday include Sime Darby, Tenaga Nasional, Dataprep, Bintai Kinden, Ireka and Komarcorp, according to JF Apex Research.

Sime Darby's automotive unit Sime Darby Motors Malaysia plans to work together with Tenaga Nasional for two years to explore initiatives to accelerate the adoption of electric vehicles (EVs), including ensuring a network of highly efficient EV charging infrastructure is in place to support this growth.

Careplus said the Securities Commission Malaysia has approved of its proposed transfer from Bursa Malaysia's ACE Market to the Main Market.

Dataprep said its collaborative partner Asia Coding Centre Sdn Bhd has received notification from the Ministry of Health to commence a trial run and deployment of Covid-19 screening RT-PCR molecular testing at the ministry’s existing sites.

Bintai Kinden has inked a deal to explore and pursue an engineering, procurement, construction and commissioning contract for the power import project by Malaysia LNG Sdn Bhd in Sarawak.

Ireka has secured an affordable and mixed housing development of 9.75 hectares on government land in Terengganu, with the provisional sum of the project amounting to RM58.29mil.

Komarkcorp, the country’s largest face mask manufacturer, intends to double its production line to 100 in 2022.

The printing and labelling specialist via its subsidiary, Komark Mask (M) Sdn Bhd, currently has 30 production lines, with an annual capacity of 360 million pieces of masks.

Meanwhile, JF Apex said the FBM KLCI could remain under pressure with support levels at 1,480 and 1,450 poiints following the bearish performances of developed markets overnight.

US stocks fell on Tuesday as some large tech stocks moved lower and new inflation data continued to show a sharp rise in prices.

European stocks fell for a fifth consecutive session, with sentiment remaining negative amid the continuing spread of the Omicron Covid variant.
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