Trading ideas: Central Global, Ageson, Heng Huat Resources Group, Kim Loong Resources and Scientex Packaging

KUALA LUMPUR: News on the corporate front that could influence share prices include announcements by Central Global, Ageson, Heng Huat Resources Group, Kim Loong Resources and Scientex Packaging, said Apex Research.

Central Global Bhd said it has won a RM183.29 million contract for the supply of plant, machinery, labour and materials required for the construction and completion of a project known as “Projek Jalan Semawang ke Tanjung Kuala Gum-Gum” in Sandakan, Sabah.

Ageson Bhd is selling 9.33 acres of freehold land in Gombak, Selangor to Koperasi Belia Nasional Bhd for RM35 million cash.

Kim Loong Resources Bhd’s net profit grew 37.4% YoY to RM49.67 million for 2QFY23.

Heng Huat Resources Group Bhd will be suspended on Thursday pending the release of a material announcement.

Scientex Packaging Bhd’s net profit rose 27.75% YoY to RM11.35 million for 4QFY22.

Meanwhile, Apex said the FBM KLCI could bounce off its support of 1,400 points following the rebound in global markets.

The US market rallied overnight in a sharp rebound after the Bank of England announced its bond buying plan.

Similarly, European stocks were positive after the Bank of England's plan for stimulus measures.

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