Trading ideas: MCE, Kanger, Uzma, G Capital

KUALA LUMPUR: JF Apex Research expects MCE Holdings Bhd, Kanger International Bhd, Uzma Bhd and G Capital Bhd to be among the stocks to watch on Tuesday.

MCE’s 2QFY22 net profit jumped 232.45% year-on-year to RM3.27mil, from RM983,000 a year earlier, on higher revenue and improved operating efficiency.

MCE also said its unit Multi-Code Electronics Industries (M) Bhd has secured contracts to supply various mechanical parts for new Perodua car models with an expected RM11.47mil to be generated in revenue.

Kanger International is disposing of China-based bamboo flooring company Ganzhou Kanger Industrial Co Ltd for 30.22 million yuan (RM20mil), as it seeks to streamline its business to focus on the construction business.

Uzma has signed a commercialisation agreement with Petronas for the installation of non-metallic pipeline technology — a solution that shifts pipelines from metal-based to non-metallic materials to minimise corrosion.

The commercialisation agreement will be in force for a period of three years from the commencement date, with the option to renew for another two years.

G Capital’s unit, Solarcity Malaysia Sdn Bhd, has completed the installation and commenced operation of a 3-megawatt peak (MWp) solar photovoltaic electric power generation system for the power purchase agreement (PPA) with Muda Paper Converting Sdn Bhd.

Meanwhile, the US market climbed overnight following lower oil prices and ongoing developments in the Russia-Ukraine talks.

Similarly, European stocks advanced as investors monitor Shanghai's lockdown amid Covid-19 outbreak.

“Following yesterday's decline the FBM KLCI could take a breather from last week's gains and consolidate below the resistance of 1,620 points,” JF Apex said.