Trading ideas: Sarawak Oil Palms, Willowglen MSC, CB Industrial Product, Siab, Ancom, Nylex, Samaiden, Omesti and Perdana Petroleum

KUALA LUMPUR: Investors could be keeping their sights on stocks recent corporate announcements including Sarawak Oil Palms, Willowglen MSC, CB Industrial Product, Siab, Ancom, Nylex, Samaiden, Omesti and Perdana Petroleum, said JF Apex Research.

Sarawak Oil Palms has proposed a bonus issue of up to 303.14 million shares on the basis of one bonus share for every two existing shares held.

Willowglen MSC has secured a contract worth about RM32.63mil for the design, build and transfer of infrastructures capable of supporting 37 telecommunication towers at various sites in Sabah.

CB Industrial Product has terminated the sale of its 70% stake in biodiesel producer Gulf Lubes Malaysia Sdn Bhd (GLM) to Kaashi Viswehswara Minerals Pvt Ltd, after the Indian firm failed to pay the balance deposit within time.

Siab has inked a memorandum of understanding with Koperasi Peserta-Peserta Felcra Malaysia Bhd to undertake a joint development with a gross development value of RM400mil on freehold Malay reserved lands in Selangor owned by the latter.

Ancom has proposed a distribution of up to 18.4 million shares or a 10.24% stake in Nylex to Ancom shareholders by way of dividend-in-specie.

Samaiden has partnered with Tokyo-listed engineering firm Chudenko Corp to explore opportunities in the renewable energy (RE) sector in the Malaysian and overseas markets.

Omesti said it is expanding its portfolio of healthcare services with the establishment of two strategic joint venture companies (JVCs), leveraging the group’s digitalisation track record.

Perdana Petroleum has bagged vessel chartering contracts worth approximately RM9.6mil from Petronas Carigali Sdn Bhd.

Meanwhile, JF Apex said the FBM KLCI could decline further and test the support of 1,550 points following the bearish sentiment in the previous session.

In US markets, stocks plunged on concerns of high oil prices and slower economic growth amid the war in Ukraine.

European markets also declined sharply due to the risk of stagflation arising from the Russia-Ukraine crisis.
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