Trading ideas: Tomypak, Pentamaster, RCE Capital, MGB, LBS Bina, KAB, Pasukhas, Malaysia Pacific Corp, D'nonce Technology, Komarkcorp, KPower and Greatech
KUALA LUMPUR: Recent corporate news flow could put the trading spotlight on Tomypak, Pentamaster, RCE Capital, MGB, LBS Bina, KAB, Pasukhas, Malaysia Pacific Corp, D'nonce Technology, Komarkcorp, KPower and Greatech, said JF Apex Research.
Tomypak has proposed to purchase a Johor-based packaging manufacturer for RM120 million.
Pentamaster's net profit for 2Q22 rose 7.05% YoY to RM19.2 million.
RCE Capital's net profit fell 8.93% YoY to RM32.23 million for 1QFY23.
MGB Bhd has bagged another housing contract in Dengkil, Selangor, from its major shareholder LBS Bina worth RM172.34 million for the development of two 24-storey blocks of affordable service apartments.
Kejuruteraan Asastera Bhd has secured a Letter of Intent for a RM16.7 million subcontract to undertake electrical services installation works for the proposed 44-storey Bon Kiara condominium project in Mont Kiara.
Pasukhas has been awarded a contract worth RM7.08 million to undertake concrete substructure works for the head building of the Dexcom Malaysia Factory 3 project in Penang.,
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Malaysia Pacific Corp's shares will be suspended with effect from Aug 19 after Bursa rejected its request for a further extension of time to submit its regularisation plan.
D'nonce Technology is buying a loss-making self-adhesive labels manufacturing unit from Komarkcorp for RM9.1 million to diversify into the labelling business.
KPower has secured a four-year extension of its power purchase agreement with Tenaga Nasional Bhd.
Greatech has entered into a MoU to the proposed acquisition of a 60% equity interest in Irish automation specialist Kaon Automation Ltd.
Meanwhile, JF Apex said the FBM KLCI could take a breather and consolidate below the resistance of 1,510 points.
The US market was flat overnight after paring intraday gains as investors took profit from gains following the better-than-expected inflation data.
Earlier, European stocks ended mixed amid corporate earnings.