Trading ideas: MYEG, FGV Holdings, ATA IMS, MUI and SC Estate Builders


KUALA LUMPUR: Stocks that might see investor curiosity on the primary buying and selling day of 2022 embrace MYEG, FGV Holdings, ATA IMS, MUI and SC Estate Builders, says JF Apex Research.

MYEG has proposed to purchase a ten% stake in S5 Holdings Inc, an organization that gives built-in safety IT options to governments, for RM86.5mil.

FGV Holdings has introduced that it’s ending a two-year memorandum of understanding with Johor Port Bhd, which is managed by Tan Sri Syed Mokhtar Al-Bukhary, for the aim of exploring holding an fairness of as much as 25% in Fauji Akbar Portia Marine Terminals Ltd in Pakistan.

The plantation group stated the MoU, which is able to expire on Jan 2, 2022, is not going to be renewed.

ATA IMS, which is embroiled in allegations of pressured labour, stated Datuk Balachandran Govindasamy has resigned because the group’s chief working officer efficient Dec 31.

He resigned “due to health issue”, in accordance with the Johor-based digital manufacturing providers supplier.

MUI has stated that its British unit is disposing of a land, along with a 111-room resort in Shirley, West Midlands for £6.5mil (RM36.22mil).

The Regency Hotel Hospitality Ltd, its wholly-owned oblique subsidiary, is promoting the property to Westbourne Leisure Ltd.

MUI stated proceeds from the disposal will allow the group to strengthen its money circulate, and will present further funds for its capital and working expenditure, in addition to working capital.

Boardroom tussle intensifies at SC Estate Builder as eight administrators “reappointed” to the board after being voted out on Dec 31.

Meanwhile, JF Apex expects the FBM KLCI to see proit-taking and retrace in the direction of 1,550 following the 23.92-point surge within the earlier session on last-minute window-dressing.

The US market was seen declining barely on Friday with the S&P500 coming off its file excessive whereas European shares dropped amid the spreading Omicron variant.

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