Trading ideas: IOI, SLP Resources, Hong Seng Consolidated, D'nonce Technology, Caely and ILB


KUALA LUMPUR: Stocks to watch for on Monday include IOI, SLP Resources, Hong Seng Consolidated, D'nonce Technology, Caely and ILB, said JF Apex Research.

IOI Corp Bhd sold a 10% stake in sustainable plant-based products firm Bunge Loders Croklaan Hogeweg for RM466 million.

SLP Resources Bhd’s net profit jumped 89.25% YoY to RM8.86 million in 2Q22.

Hong Seng Consolidated Bhd sold a 20% stake in digital healthcare platform operator eMedAsia Sdn Bhd to Green Packet Bhd for RM20 million.

D’nonce Technology Bhd is buying 32,375 sq metres of vacant industrial land in Kulai, Johor for RM12.2 million to build a new factory.

Datuk Seri Koo Tee Yam has increased his shareholding in Caely Holdings Bhd to 19.12% up from 15.25%.

ILB Group Bhd said the lawsuit filed to block its proposed acquisition of a commercial property in Petaling Jaya is not expected to have any material financial or operational impact on the group.

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

The US market was flat on Friday with the Dow edging higher while the S&P and Nasdaq declined slightly after better-than-expected jobs data.

Earlier, European stocks declined after US non-farm payroll beat estimates and could lead the US Federal Reserve to continue with its aggressive rate hikes.

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