Trading ideas: F&N, Icon, Kanger, Hartalega, Crescendo, GIIB, Sersol and ManagePay Systems

KUALA LUMPUR: There could be trading interest following news flow in F&N, Icon, Kanger, Hartalega, Crescendo, GIIB, Sersol and Managepay Systems, said Apex Research.

Fraser & Neave Holdings Bhd’s (F&N) net profit rose 40.11% to RM536.9 million for the financial year ended Sept 30, 2023 (FY2023).

Voultier Sdn Bhd (VSB) is set to become the largest shareholder of the financially troubled EA Technique (M) Bhd (EATech) on the proposed plan to subscribe to 676.39 million shares or a 51% stake in the company through a share issuance exercise.

Icon Offshore Bhd said it has secured a contract to supply a 60-tonne anchor handling tug supply vessel, which will be used for SEA Hibiscus Sdn Bhd’s drilling campaign.

Kanger International Bhd has acquired 15 units of the proposed serviced apartments in Tower A of Antara Genting Highlands Resort Suites for RM19.77 million.

Hartalega Holdings Bhd returned to the black, with a net profit of RM27.7 million for the second quarter ended Sept 30, 2023 (2QFY2024), after registering three consecutive quarters of losses.

Crescendo Corp Bhd is divesting of seven parcels of adjoining land in Pulai, Johor to a data centre operator for RM117.02 million cash.

GIIB Holdings Bhd has proposed to undertake a private placement of up to 10% of its issued shares to raise up to RM6.56 million, mainly to fund working capital and upkeep its machinery and equipment.

Sersol Bhd has removed its chief executive officer Datuk Wira Justin Lim Hwa Tat, citing his absence from office without proper notice and not responding to a show cause letter since his suspension as CEO on Aug 30 this year.

ManagePay Systems Bhd's (MPay) group chief executive officer for its payment services segment Tan Yew Loong resigned on Sunday (Nov 5) after spending four years with the electronic payment solutions provider’s senior management.

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