Trading ideas: Axiata, Comintel, MN Holdings, CNN Asia, Zen Tech, Jiankun, LB Aluminium and Scientex Packaging

KUALA LUMPUR: Investors could have their sights trained on stocks with recent corporate announcements including Axiata, Comintel, MN Holdings, CNN Asia, Zen Tech, Jiankun, LB Aluminium and Scientex Packaging, said Apex Research.

The research firm said in its daily highlights that

Axiata announced a special tax-exempt dividend of four sen per share, following the completion of the Celcom-Digi merger on Nov 30.

The upper limit price of Comintel’s shares has been frozen at 69 sen by Bursa Malaysia after the stock hit limit up for two consecutive trading days.

CN Asia has reduced its stake in Zen Tech to 1.05% from 6.69% previously.

MN Holdings had secured a RM43.5 million contract from Tenaga Nasional Bhd (TNB) to replace parts of a substation in Penang.

Jiankun’s unit has been slapped with a notice of demand for RM12.98 million linked to a joint venture for the development of a residential property in Petaling, Selangor.

LB Aluminium's 2QFY23 net profit increased 81% YoY to RM12.35 million.

Scientex Packaging's 1QFY23 net profit grew 25% YoY to RM12.28 million.

Meanwhile, Apex said the FBM KLCI could remain under pressure and test its support of 1,465 points following the negative performance on Wall Street.

The US market tumbled overnight following renewed concerns of a recession despite the Federal Reserve slowing down interest rate hikes.

Similarly, European stocks declined following the negative investor sentiment.

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