Trading ideas: Salutica, Salcon, TAFI Industries, Jiankun International, MN Holdings, Seni Jaya and CTOS Digital

KUALA LUMPUR: Following recent corporate developments, there could be increased trading interest in Salutica, Salcon, TAFI Industries, Jiankun International, MN Holdings, Seni Jaya and CTOS Digital, said Apex Research.

Salutica Bhd, which was slapped with an unusual market activity (UMA) query, highlighted its legal dispute with Apple Malaysia Sdn Bhd as a possible cause for the recent jump in its share price.

Salcon Bhd’s unit has secured a contract to build a small hydropower plant of 10.44MW at the Sungai Selangor Dam, worth RM65 million.

Tafi Industries Bhd has been awarded a RM9.66 million contract to build a factory in Kuala Langat, Selangor.

Jiankun International Bhd’s unit is acquiring a parcel of leasehold land in Klebang, Melaka for RM26 million.

MN Holdings Bhd bagged a contract to undertake the engineering, procurement, construction and commissioning (EPCC) of a natural gas distribution system in Tanjung Malim, Perak, worth RM20.2 million.

Seni Jaya Corp Bhd’s unit has won an award from Prasarana Malaysia Bhd’s unit to promote out-of-home advertising on the LRT Ampang Line.

CTOS Digital Bhd’s net profit rose 32.9% to RM16.58 million for 1QFY2023.

Meanwhile, Apex said the FBM KLCI could remain sideways above the support of 1,431 points following gains on Wall Street.

The US market was slightly higher overnight amid corporate earnings announcements.

Earlier, European stocks were mixed as investors monitor the results season.

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