Trading ideas: Sime Darby, Sunzen Biotech, Capital A, MGRC, AirAsia X, Mr DIY, Heineken Malaysia, SAM Engineering and KLK

KUALA LUMPUR: Stocks to watch for on Thursday following recent corporate announcements include Sime Darby, Sunzen Biotech, Capital A, MGRC, AirAsia X, Mr DIY, Heineken Malaysia, SAM Engineering and Kuala Lumpur Kepong, said JF Apex Research.

Sime Darby has put plans to spin-off its healthcare unit on the backburner, group chief executive officer Datuk Jeffri Salim Davidson said during a virtual briefing.

Sunzen Biotech has proposed to undertake a bonus issue of up to 408.93 million warrants on the basis of one warrant for every two existing shares.

Capital A announced that its unit AirAsia Aviation Group Ltd has entered into a non-binding Memorandum of Understanding with international aircraft leasing company Avolon Aerospace Leasing to establish a joint working group to study the feasibility of urban air mobility in the ASEAN region and evaluate the possibility of leasing up to 100 VX4 electric vertical take-off and landing aircraft.

MGRC returned to the black in the second quarter ended Dec 31, 2021 with a net profit of RM1.01mil compared to a net loss of RM1.55mil a year ago, on the back of higher margins from the distribution of immunotherapy and cell therapies.

AirAsia X’s net loss narrowed to RM11.94mil for its second quarter ended Dec 31, 2021, from RM149.14mil in the immediate preceding quarter, due to lower operating costs.

Mr DIY’s 4Q21 net profit grew 24.28% yoy, on the back of a RM10.7 million gain in operating income.

Heineken Malaysia’s 4Q21 net profit surged 76.93% yoy, as the brewer saw improved sales for its products following the reopening of the domestic economy.

SAM Engineering’s 3QFY22 net profit soared 102.87% yoy, on the back of an increase in demand at its aerospace and equipment divisions.

KLK’s 1QFY22 net profit jumped 67.69% yoy, boosted by sharply higher palm oil prices.
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