Trading ideas: Yinson, Haily Group, HeiTech Padu, Tomypak, YTL Power, China Automobile Parts


KUALA LUMPUR: Stocks to watch for on Tuesday include Yinson, Haily Group, HeiTech Padu, Tomypak, YTL Power, China Automobile Parts, Panasonic Manufacturing Malaysia and Notion VTec, says JF Apex Research.

Yinson has bagged a contract worth US$505mil (about RM2.14bil) from Enauta Energia SA for the provision, operation and maintenance of a floating, production, storage and offloading (FPSO) asset in the Atlanta Field located in the Santos Basin, offshore Brazil.

Haily Group has secured a RM40.67mil contract to build three-storey shop offices in Johor Bahru, Johor.

HeiTech Padu has bagged a RM21.7mil contract from Permodalan Nasional Bhd; Following a fire outbreak at its Senai manufacturing plant on Sunday, Tomypak has given assurance that it has adequate insurance coverage to cover for the incident's damages.

YTL Power has completed the acquisition of Dodid Pte Ltd, the owner of a 12.5 megawatt (MW) tier-three data centre in Singapore.

This marks the group's first foray into the data centre industry outside Malaysia, and its first step towards establishing a regional data centre platform in Southeast Asia.

The external auditor of China Automobile Parts, CAS Malaysia PLT has expressed a disclaimer of opinion in the group’s financial statements for the FY18.

Panasonic Manufacturing Malaysia announced that its plant in Seksyen 23, Shah Alam, was affected by the flood over the weekend.

The group said the production of fan and vacuum cleaners is disrupted for the time being.

Notion VTec's factory in Klang has been affected by the flood due to the continuous heavy rain.

Notion said the factory is for the production of gloves and computer numerical control machining under the automotive segment.

Westports said while Port Klang and some parts of the Klang Valley were affected by flooding after continuous heavy rainfall, the container and conventional facilities were not impacted.

It said some of its staff were unable to report to work due to travel difficulties.

The cumulative effects could contribute to a throughput shortfall that hinders the company from achieving the guided single-digit growth for 2021.

Meanwhile, JF Apex says the FBM KLCI could retrace towards its support of 1,480 points following the bearish local sentiment globally.

Yesterday, the benchmark index dropped 8.11 points to 1,493.9 points.

The US market declined overnight on growing concerns over the fast-spreading Omicron variant while European stocks tumbeld as the virus triggered lockdowns and restrictions across the continent.
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