Trading ideas: Pantech, Ecoworld Malaysia, PA, Widad, FM Global Logistics, Mercury Securities, Artroniq, Tanco and Jentayu
KUALA LUMPUR: Companies that made recent headlines include Pantech, Ecoworld Malaysia, PA, Widad, FM Global Logistics, Mercury Securities, Artroniq, Tanco and Jentayu, said Apex Securities Research.
Pantech Group Holdings Bhd
’s net profit dropped 38.98% to RM21.15 million for the third quarter ended Nov 30, 2023 (3QFY2024) from RM34.66 million the year before, mainly due to softer sales in both its trading and manufacturing divisions.
A unit of Eco World Development Group Bhd (EcoWorld Malaysia), Eco Botanic 3 Sdn Bhd (EB3SB) is acquiring land in Pulai, Johor from River Retreat Sdn Bhd (RRSB) for RM450.13 million on which it will build affordable housing.
PA Resources Bhd, the country’s leading aluminium extruder company, has bagged an extension of supply agreement worth up to RM1.08 billion from First Solar, Inc, First Solar Malaysia Sdn Bhd and First Solar Vietnam Manufacturing Co Ltd to supply goods for production of photovoltaic modules.
Widad Group Bhd, which has joined a growing list of companies getting unusual market activity (UMA) queries from Bursa Securities as its share price hit limit down on Thursday, said it is discussing several business proposals in its UMA reply.
FM Global Logistics Holdings Bhd is buying two pieces of land totalling 5.68 acres in Setia Alam Industrial Park, Klang, from property developer Petaling Garden Sdn Bhd for RM37.86 million cash, or RM153 per sq ft.
Mercury Securities Group Bhd, which received an unusual market activity (UMA) query from Bursa Securities after its shares hit a limit-down on Wednesday, said it is in talks to purchase a business that fits the group’s current operations.
Artroniq Bhd, meanwhile, said it is investigating the factors contributing to the recent share price volatility after hitting limit-down two days in a row.
Tanco Holdings Bhd, whose share price suddenly tumbled as much as 26.72% on Thursday and prompted Bursa to suspend the counter's intraday short selling and send it an UMA query, said it has no idea what could be driving down its share price.
Shares of Jentayu Sustainables Bhd, Mercury Securities Bhd and Artroniq Bhd, which hit limit-down on Wednesday, nosedived again on Thursday, as selling pressure that hit several counters this week continued to move to other small-cap companies in the market.
