Trading ideas: F&N, Green Packet, Privasia, IJM, MGRC, Globaltec

KUALA LUMPUR: JF Apex Research expects Fraser and Neave Holdings Bhd (F&N), Green Packet Bhd, Privasia Technology Bhd, IJM Corp Bhd, Malaysian Genomics Resource Centre Bhd (MGRC) and Globaltec Formation Bhd to be among the stocks to watch on Thursday.

F&N reported a marginal increase in its net profit of RM97.5mil in the third quarter ended June 30, 2022 (3QFY22), compared with RM96.16mil a year ago.

Green Packet Bhd and Privasia Technology Bhd have denied a local news report that said the companies are attempting to obtain the Health Ministry's approval for a digital tracking system.

IJM Corp marks its first foray into the industrial and logistics market by partnering with China Harbour Engineering Company Ltd (CHEC) to develop a mixed development and logistics hub in Kuantan.

Businessman Datuk Seri Tee Yam @ Koo Tee Yam continued to expand his shareholdings in Caely Holdings Bhd, buying 5.5 million shares off market to raise his total shareholdings to 15.25%.

MGRC replied to Bursa’s UMA query that it is not aware of any corporate development that would have caused the sharp fall in its share price.

Globaltec has obtained approval from the Indonesian Ministry of Energy and Mineral Resources for additional exploration time at the Muralim gas field until July 2023.

Joe Holding Bhd has proposed to buy two pieces of glove machinery from Fintec Global Bhd for RM14.47mil.

Overnight, the Dow Jones Industrial Average rose 416.33 points, or 1.29%, to 32,812.5, the S&P 500 gained 63.98 points, or 1.56%, to 4,155.17 and the Nasdaq Composite added 319.40 points, or 2.59%, to 12,668.16.

“Following the positive performance in Wall Street, the FBM KLCI could climb towards its resistance of 1,510 points,” JF Apex said.

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F&N , Green Packet , Privasia , IJM Corp , MGRC , Globaltec


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