Trading ideas: MYEG, AE Multi, Eversendai, Central Global, Infomina, Ancom Nylex, Sunsuria, Minox, Straits Energy and ARB

KUALA LUMPUR: Stocks in focus on Wednesday include MYEG, AE Multi, Eversendai, Central Global, Infomina, Ancom Nylex, Sunsuria, Minox, Straits Energy and ARB, said Apex Research.

My E.G. Services Bhd (MyEG) has been granted an extension by the Ministry of Home Affairs for its immigration-related services for two years, and the extension's total estimated value will depend on the number of transactions performed over this period.

AE Multi Holdings Bhd, whose share price tumbled from 12.2 sen at end-2020 to one sen currently, is planning to consolidate every 10 existing shares held by its shareholders into one share on a date to be determined later.

Eversendai Resources Bhd’s wholly owned subsidiary, Eversendai Resources Sdn Bhd (ERCB) has entered into partnership with Saudi Arabia-based Algihaz to form a joint venture (JV) company to execute structural steel projects in Saudi Arabia.

Central Global Bhd has secured a RM15.24 million sub-contract to supply plant, machinery, labour and material for a water supply construction project in Lahad Datu, Sabah.

Infomina Bhd's net profit rose 53.63% to RM7.27 million for the first quarter ended Aug 31, 2023 (1QFY2024), from RM4.73 million a year earlier, on the back of better performance of its technology infrastructure business operations support segment.

Ancom Nylex Bhd's net profit rose 3.85% to RM20.8 million for the first quarter ended Aug 31, 2024 (1QFY2024), from RM20.03 million a year earlier, on the back of higher earnings posted by its agricultural chemicals segment, and lower distribution and administrative expenses.

Sunsuria Bhd has inked a partnership with Island Hospital Sdn Bhd (IH) to open its first cancer centre in Penang.

ACE Market-listed Minox International Group Bhd, which gained 48% on its maiden trading day on Bursa Malaysia on Tuesday, will pass on cost increases stemming from the 2% hike in service tax to its customers, following the government's announcement in Budget 2024 that the tax would be raised to 8%.

Straits Energy Resources Bhd has secured a RM71.56 million sub-contract to supply equipment, resources, transport and machineries for a University Malaysia Perlis project.

ARB Bhd intends to distribute the bulk of its 94.56% stake in its Nasdaq-listed subsidiary, ARB IOT Group Ltd, to its shareholders through a dividend-in-specie.