Trading ideas: Capital A, Ageson, BHIC, HeiTech, Rapid Synergy, HIL Industries, YTL Power, Carlsberg, Malakoff


KUALA LUMPUR: Capital A Bhd, Ageson Bhd, Boustead Heavy Industries Corp Bhd (BHIC), Heitech Padu Bhd, Rapid Synergy, HIL Industries Bhd, YTL Power International Bhd, Carlsberg Brewery Malaysia Bhd and Malakoff Corp Bhd are among the stocks to watch on Thursday, according to Apex Securities.

Capital A is seeking to float its AirAsia brand royalty business and aircraft leasing unit in the US by injecting these operations into a Nasdaq-listed special purpose acquisition company (SPAC), aiming for an indicative valuation of US$1bil (RM4.77bil) as part of its regularisation plans.

Ageson is now a Practice Note 17 (PN17) company, making it the 24th admission in the list.

BHIC and Minister of Finance Inc (MOF Inc) have mutually agreed to extend the conditional period for the disposal of a 20.77% stake in Boustead Naval Shipyard Sdn Bhd (BNS) to MOF Inc by another month till Dec 1.

Heitech has accepted a RM29.68mil contract for strengthening the IT technology system for the Ministry of Domestic Trade and Cost of Living.

Rapid Synergy’s external auditor KPMG PLT has issued a qualified opinion on the precision tool-making company’s financial statements for the 18-month period that ended June 30, 2023 (FPE2023), due to insufficient disclosures over RM4.43mil rental income, a RM2.32mil gain from the disposal of property and deposits paid for acquisition of properties, that were recognised during the financial period.

HIL Industries has proposed to acquire a three-acre piece of land in Kuala Lumpur for RM47mil cash to undertake a condominium development.

YTL Power has become a substantial shareholder of smaller rival Ranhill Utilities Bhd, after acquiring 243.33 million shares, equivalent to an 18.87% stake, in Ranhill.

Carlsberg’s net profit for the third quarter ended Sept 30, 2023 (3QFY2023) fell marginally to RM75.94mil from RM76.39mil a year earlier, largely due to a weaker trading environment and softer consumer sentiment.

Malakoff has signed a solar power purchase agreement with DRB-Hicom Bhd to develop, operate and maintain solar photovoltaic systems at 14 locations in Selangor, Perak, Melaka and Pahang.

OM Holdings Ltd's unit is disposing of 90% of its 100% stake in OM Materials (Qinzhou) Co Ltd (OMQ) for US$25mil.

Salutica Bhd has stated that while there are no undisclosed corporate developments, rumours or reports explaining the unusual market activity (UMA) of its shares, the ongoing legal suit involving its subsidiary and Apple Malaysia is a potential contributing factor.

Overnight, the US stock markets for the third straight session as investors cheered after the Federal Reserve kept interest rates unchanged.

The Dow Jones Industrial Average rose 0.67% to 33,274.58, the S&P 500 gained 1.05% to 4,237.86 and the Nasdaq Composite added 1.64% to 13,061.47.

Apex Securities reckoned that the FBM KLCI could stage a rebound from yesterday’s decline, taking cue from the US Federal Reserve’s decision.

It said the lower liners may also see improved trading sentiment on the back of rebound play.

“Investors will continue to monitor US corporate earnings. Back home, investors will be keeping a close watch on Bank Negara’s interest rate decision to be tabled at 3pm later today.

“For now, the consensus is pointing for the interest rate to remain on hold. We expect the technology sector to outperform, mirroring the strong performance on Nasdaq overnight,” Apex said.

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