Trading ideas: AMMB, LBS Bina, Iskandar Waterfront City, Gabungan AQRS, MyNews, Ireka, CapitaLand Malaysia, HPP, Econframe, Hextar Industries, Protasco and Artoniq

KUALA LUMPUR: Stocks with recent corporate announcements that could see trading interest include AMMB, LBS Bina, Iskandar Waterfront City, Gabungan AQRS, MyNews, Ireka, CapitaLand Malaysia, HPP, Econframe, Hextar Industries, Protasco and Artoniq, said JF Apex Research.

AMMB Holdings Bhd has denied that it is selling its asset management unit that could be valued up to RM1.3bil.

LBS Bina Group Bhd has proposed to buy two pieces of land in Bentong, Pahang for RM97.85mil from the state government.

Iskandar Waterfront City Bhd is selling 5.58 acres of vacant land in Johor Bahru for RM53.24mil to Knusford Bhd.

Gabungan AQRS Bhd has bagged an RM66.59mil contract from the Public Works Department to build 24 classrooms for a school in Negeri Sembilan.

MyNews Holdings Bhd saw the EPF cease to be its substantial shareholder after EPF offloaded 1.75 million shares in MyNews to reduce its stake to 4.93%.

Ireka Corp Bhd has terminated the RM45.77mil construction contract — awarded by Wanland Metro Sdn Bhd — in Bukit China, Besut, Terengganu, after both parties were unable to agree on various commercial terms.

Capitaland Malaysia Trust (CLMT) recorded a 41.63% YoY rise in net property income to RM37.43mil for 2Q22.

HPP Holdings Bhd saw its earnings drop 30% YoY to RM3.5mil in 4QFY22.

Econframe Bhd’s net profit for the 3QFY22 increased by 74.3% YoY to RM3mil.

Hextar Industries Bhd’s net profit for the 3QFY22 rose 93.4% YoY to RM1.82mil.

Protasco Bhd said a civil servant housing project with a gross development cost of RM442.68mil awarded by Perbadanan Putrajaya five years ago has been revised to affordable housing.

Artroniq Bhd has proposed for full acquisition of Paklin Venture Capital Sdn Bhd for RM1.6mil in cash.

Meanwhile, JF Apex said the FBM KLCI could take a breather following recent gains and consolidate below the resistance of 1,510 points.

The US market declined on Friday as investors took profit from last week's gains amid disappointing corporate results.

Earlier, European stocks climbed as investors digested quarterly results and central banks' rate hikes.

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