Trading ideas: Top Glove, CTOS Digital, Comfort Gloves and Nexgram

KUALA LUMPUR: Stocks with recent corporate announcements to watch for on Thursday include Top Glove, CTOS Digital, Comfort Gloves and Nexgram, said JF Apex Research.

Top Glove’s net profit for the second quarter ended Feb 28, 2022 dropped 52.86% qoq, while revenue fell 8.51% qoq, as average selling prices normalised closer to pre-pandemic levels, which offset an uptick in sales volume.

CTOS Digital has increased its associate stake in Thailand-based Business Online Public Company Ltd (BOL) to 24.825% from 22.65% previously, as the group continues to strengthen its presence in Thailand as part of its regional expansion strategy.

Comfort Gloves is buying a firm that owns 6.142 hectares of agriculture land in Muar for RM25.75mil in a related party transaction.

The company believes the prospects of the land are good as its immediate neighborhood is primarily residential consisting of homesteads and small to medium-sized housing schemes with commercial and residential developments.

Nexgram will offer services such as Covid-19 screening and sample processing to all registered members of the Malaysian Association of Employment Agencies.

Meanwhile, JF Apex said the FBM KLCI could track the strong rebound in global markets and climb towards the resistance of 1,600 points.

The US market had surged overnight after commodities prices pulled back from the recent rally, with oil prices dropping over 10%.

European stocks also rallied as commodities prices eased amid the ongoing war between Russia and Ukraine.
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Top Glove , CTOS Digital , Comfort Gloves , Nexgram


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