Trading ideas: Top Glove, DRB-Hicom, EP Manufacturing, Seremban Engineering, KESM Industries and UWC


KUALA LUMPUR: Investors could be actively trading in stocks with recent corporate news announcement including Top Glove, DRB-Hicom, EP Manufacturing, Seremban Engineering, KESM Industries and UWC, said JF Apex Research.

Top Glove has postponed a plan to raise US$347mil in a Hong Kong listing due to elevated market uncertainty, after Russia’s invasion of Ukraine.

DRB-Hicom said an arbitration tribunal has decided in favour of its subsidiary Proton Holdings Bhd and Lotus Group International Ltd (LGIL) in relation to the 860.61 million yuan (RM570mil) civil complaint filed by Goldstar Heavy Industries Co Ltd.

EP Manufacturing is venturing into the manufacturing and distribution of two-wheeled electric vehicles (EVs) for Malaysia and other Southeast Asian markets.

Dutch Lady Milk Industries Bhd has appointed Seremban Engineering as the main contractor to build its new manufacturing plant in Techpark, Bandar Enstek, Negeri Sembilan.

KESM Industries slipped into the red with a net loss of RM1.01mil for the second quarter ended Jan 31, 2022, against a net profit of RM6.33mil posted a year ago, due to lower other income coupled with weaker revenue, -5.38% yoy;.

UWC posted a 7.94% drop in net profit for the second quarter ended Jan 31, 2022 to RM25.08mil, from RM27.24mil a year prior, due to higher depreciation expenses and staff costs.

Meanwhile, JF Apex said the FBM KLCI could trend lower towards the support of 1,515 points following the recent bearish momentum.

Overnight, the US market declined amid concerns of slower economic growth and inflation as commodity prices rose as a result of the Russia-Ukraine conflict

European stocks also ended lower due to the ongoing war.



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