Trading ideas: MGRC, Chin Hin, Sapura Energy, Advancecon, Dataprep, Majuperak, LPI Capital and Industronics

KUALA LUMPUR: Stocks with recent corporate announcement that could see increased investor interest include MGRC, Chin Hin, Sapura Energy, Advancecon, Dataprep, Majuperak, LPI Capital and Industronics, said JF Apex Research.

Malaysian Genomics Resource Centre Bhd (MGRC) has been slapped with an unusual market activity (UMA) query by Bursa Malaysia following a sharp fall in its share price, losing 30 sen or 29.7% to 71 sen.

Chin Hin Group Bhd, which was also served with an UMA query from Bursa said it is unaware of any corporate development relating to the group's business and affairs apart from its proposed sale of a 19.34% stake in Solarvest Holdings Bhd and the one-for-one bonus issue of Chin Hin shares.

Sapura Energy Bhd has been awarded a two-year extension of a charter and service contract by Petrobras in Brazil worth RM580mil.

Advancecon Holdings Bhd has won a RM17.16mil subcontract for the provision of earthworks and civil engineering services.

Dataprep Holdings Bhd has secured a RM5.4mil award from MYTV Broadcasting Sdn Bhd to set up and provide managed services for the transmission system of digital TV infrastructure.

Majuperak Holdings Bhd has signed a deal to buy a substantial stake in two property management companies for RM9.8mil cash.

LPI Capital Bhd’s 2Q22 net profit dropped 32% YoY to RM56.77mil and Industronics Bhd has secured US$1 billion in funding from China’s state-owned investment holding company State Development & Investment Corp Ltd (SDIC), for collaboration on asset management and capital market.

Meanwhile, the FBM KLCI could face further profit-taking with support at 1,460 points following the decline on Wall Street.

The US market declined overnight due to US-China geopolitical tension after House Speaker Nancy Pelosi's visit to Taiwan and three Federal Reserve presidents hinted at further rate hikes.

Earlier, European stocks also declined as investors took profit from recent gains.

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