Trading ideas: Astro Malaysia, Petronas Gas, Dynaciate, Yinson, UWC and Bina Puri


KUALA LUMPUR: Stocks that could see increased investor interest on Wednesday incude Astro Malaysia, Petronas Gas, Dynaciate, Yinson, UWC and Bina Puri, said JF Apex Research.

Astro Malaysia Holdings Bhd's net profit for the 1QFY22 fell 29.19% YoY to RM100.02mil.

Petronas Gas Bhd has awarded a RM92mil contract to undertake a gas pipeline extension to a consortium comprising Carimin Engineering Services Sdn Bhd and I Drill Pipelines Constructions Sdn Bhd.

Dynaciate Group Bhd has proposed to purchase a freehold industrial land measuring 7,690 sq metres in Nilai, Negeri Sembilan.

Yinson Holdings Bhd’s rights issue to raise some RM1.19bil was oversubscribed by 22.31%.

UWC Bhd 3QFY22 net profit grew 24.6% YoY to a record high of RM28.7mil

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Bina Puri Holdings Bhd has proposed to raise some RM27mil via a private placement and rights issue.

Meanwhile, JF Apex said the FBM KLCI could follow Wall Street's positive performance and extend its rebound towards the resistance of 1,475 points.

The US market rallied overnight in a sharp rebound as the Federal Reserve chairperson will testify in Congress later today.

Similarly, European stocks also climbed in a relief rally after recent losses sparked by inflation and rate hikes.

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