Trading ideas: Frontken Corp, SLP Resources, Hartalega, Mesiniaga, Xin Hwa and CSH Alliance


KUALA LUMPUR: Stocks that could see increased investor interest on Wednesday include Frontken Corp, SLP Resources, Hartalega, Mesiniaga, Xin Hwa and CSH Alliance, said JF Apex Research.

Frontken Corp Bhd's 1Q22 net profit jumped 15.71% YoY to RM26.51mil.

SLP Resources Bhd’s 1Q22 net profit fell 25.12% YoY to RM4.51mil.

Hartalega Holdings Bhd posted its first-ever quarterly loss of RM189.7mil for its 4QFY22.

Mesiniaga Bhd has secured a contract worth RM59.63mil from Telekom Malaysia Bhd (TM) to provide maintenance and support services for telecommunication cloud core data centre.

Xin Hwa Holdings Bhd plans to diversify into the precision machining business after acquiring a 79% stake in Micron Metal Engineering Sdn Bhd (Micron) for RM19.75mil in a cash plus shares deal.

CSH Alliance Bhd’s electric vehicle (EV) unit has inked a sale and purchase agreement (SPA) to acquire three adjoining plots of industrial land measuring 55.32 acres in Tanjung Malim, Perak for RM12mil.

Meanwhile, JF Apex said the FBM KLCI could consolidate above the support of 1,540 points following the recent decline.

The US market was mixed with the S&P and Nasdaq rebounding while the Dow was slightly lower as investors waited for April's inflation data to be released later today.

European stocks rebounded from a two-month low on bargain hunting.

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