Trading ideas: MN Holdings, Yinson, Magni-Tech, Seremban Engineering, MGRC and Tuju Setia


KUALA LUMPUR: There could be increased trading interest in MN Holdings, Yinson, Magni-Tech, Seremban Engineering, MGRC and Tuju Setia on Friday, said JF Apex Research.

MN Holdings Bhd won four new contracts for its substation engineering and underground utilities services and solutions business segments worth a combined RM27mil.

Yinson Holdings Bhd’s net profit for 1QFY23 rose 7.14% YoY to RM120mil.

Magni-Tech Industries Bhd’s net profit for 4QFY22 fell 12.18% YoY to RM26.89mil.

Seremban Engineering Bhd bagged a contract worth RM172.6mil to undertake civil, structural and architectural, as well as mechanical, electrical and plumbing works for Dutch Lady Milk Industries Bhd’s manufacturing plant in Nilai, Negeri Sembilan.

Malaysian Genomics Resource Centre Bhd (MGRC) is acquiring a 51% stake in Aquahealth Sdn Bhd, a kidney dialysis operator and Tuju Setia Bhd is tendering for RM2.8bil worth of projects to build high-rise and industrial buildings, as well as hospitals and healthcare facilities.

Meanwhile, JF Apex said the FBM KLCI could consolidate above the support of 1,415 following the previous session's modest decline.

The US market rallied overnight to rebound sharply as investors wait for new home sales and consumer sentiment data to be announced later today.

Earlier, European stocks tumbled amid concerns of recession.

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