Trading ideas: Ancom, NWP Holdings, KPower, SCIB, Eco World Development, GFM and Sunway

KUALA LUMPUR: Stocks to watch for on Wednesday include Ancom, NWP Holdings, KPower, Sarawak Conslidated Industries, Eco World Development Group, GFM Services Bhd, Sunway, SM Track, Country Heights Holdings, Jiankin International, Sersol, Techna-X and MQ Technology, says JF Apex Research.

Ancom Bhd recorded a 95.12% jump in net profit at RM12.08mil for its second quarter ended Nov 30, 2021.

NWP Holdings Bhd has sued its managing director Datuk Seri Kee Soon Ling and independent non-executive director Yew Onn Chong over alleged fraudulent transactions.

Datuk Mohd Abdul Karim Abdullah has ceased to be a substantial shareholder in construction and engineering solutions player KPower Bhd after disposing 79.05 million shares between February 2021 and January 2022.

Trading in the shares of Sarawak Consolidated Industries Bhd (SCIB) will resume today following the release of the group’s outstanding annual report.

Eco World Development Group Bhd (EcoWorld) has proposed a bonus issue in the form of one warrant for every five existing shares.

GFM Services Bhd (GFM) is partnering property developer Majuperak Holdings Bhd to jointly develop and operate a rest and service area (RSA) at Hulu Bernam, Perak, along the North South Expressway.

Sunway Bhd’s property arm, Sunway Property Bhd is eyeing RM2.2bil in sales and RM2.3bil in launches for 2022.

A consortium, comprising SMTrack Bhd, Country Heights Holdings Bhd, Jiankun International Bhd, Sersol Bhd, Techna-X Bhd and MQ Technology Bhd has signed a Heads of Agreement (HOA) with 5G Infra Tech Solution Sdn Bhd to undertake a series of corporate exercises.

Meanwhile, the FBM KLCI could trend lower towards a support of 1,515 points after losing 12.41 points to 1,542.92 in the previous session.

Wall Street was bearish overnight with the major indices plunging on concerns over policy tightening and corporate earnings.

European stocks meanwhile tumbled due to higher oil prices and expectation of interest rate hikes.

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