Trading ideas: Bintulu Port, TPC Plus, GIIB, Southern Acids, Magnum, Kobay Technology, Tomei Consolidated, Dayang Enterprise, Petronas Gas and Hup Seng Industries


KUALA LUMPUR: Investors could be be keeping a watchful eye on Bintulu Port, TPC Plus, GIIB, Southern Acids, Magnum, Kobay Technology, Tomei Consolidated, Dayang Enterprise, Petronas Gas and Hup Seng Industries following recent corporate announcements, said JF Apex Research.

Bintulu Port Holdings Bhd recently won a RM14.24 million contract extension to Sibu-based Sing Kiong Hong Dockyard Sdn Bhd to hire two units of 25-tonne ship handling tugs complete with crew.

TPC Plus Bhd's external auditor has expressed an unmodified audit opinion with material uncertainty regarding its ability to continue as a going concern.

GIIB Holdings Bhd has announced the termination of Wong Weng Yew as the group’s executive director with immediate effect.

Southern Acids (M) Bhd, Magnum Bhd, Kobay Technology Bhd, Tomei Consolidated Bhd, and Dayang Enterprise Holdings Bhd posted profit growth in their latest quarterly results while Petronas Gas Bhd and Hup Seng Industries Bhd saw their quarterly profits decline.

Meanwhile, JF Apex said the FBM KLCI could remain under pressure with support at 1,540 points.

The US market continued to decline amid ongoing concerns over inflation and interest rate hikes.

Similarly, European stocks tumbled over fears of rampant inflation leading to a recession.

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