Trading ideas: MN Holdings, Zhulian, Berjaya Corp, Nestcon and UMW

KUALA LUMUPR: Stocks to watch for on Thursday include MN Holdings, Zhulian, Berjaya Corp, Nestcon and UMW, said JF Apex Research.

MN Holdings Bhd has won a contract for high-voltage systems and related works for a large-scale solar photovoltaic (LSSPV) plant in Pekan, Pahang, worth RM12.2mil.

Zhulian Corp Bhd posted a 7.63% y-o-y gain in net profit to RM11.85mil in its 2QFY22.

Berjaya Corp Bhd (BCorp) is planning to list its 51.62%-owned unit Singapore Institute of Advanced Medicine Holdings Pte Ltd (SIAMH) on the Catalist Board of the Singapore Stock Exchange.

Nestcon Bhd is raising RM23.82mil fresh capital via a private placement, mainly to fund its day-to-day operations of ongoing projects.

UMW Holdings Bhd automotive sales rose 14% in June, underpinned by improved sales by UMW Toyota Motor (UMWT) and its associate company Perodua.

Meanwhile, JF Apex said the FBM KLCI could trend lower towards the support of 1,394 points following the decline on Wall Street.

The US market declined overnight after June inflation data came in higher than expected, hitting its highest level since 1981 and raising concerns of higher rate hikes by the Fed.

Similarly, European stocks dropped after the US' hotter-than-expected CPI.

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