Trading ideas: DRB-Hicom, Citaglobal, Critical Holdings, Carzo, Y&G, Hup Seng, Inta Bina, HCK Capital

KUALA LUMPUR: DRB-Hicom Bhd, Citaglobal Bhd, Critical Holdings Bhd, Carzo Holdings Bhd, Y&G Corp Bhd, Hup Seng Industries Bhd, HCK Capital Group Bhd, and Inta Bina Group Bhd are among the stocks to watch following their latest news.

DRB-Hicom has proposed to acquire the entire equity interest in Spirit Aerosystems Malaysia Sdn Bhd for a purchase consideration to be determined based on an enterprise value of US$95.2mil.

Citaglobal is acquiring a 70% stake in Zeqna Corporation Sdn Bhd for RM15mil and a 70% equity interest in Koridor Mentari Sdn Bhd for RM1, conditional upon the completion of Zeqna’s acquisition.

Critical Holdings has secured a contract worth RM40.76mil to undertake mechanical and electrical works for a new production floor fit-up, including cleanroom architecture and process utilities.

Carzo Holdings Bhd faces possible delisting from Bursa Malaysia after failing to acquire a new core business within nine months, following its exit from fresh fruit distribution.

It announced in November last year that it was ceasing its core business of distributing fresh fruits and fruit products.

Y&G is acquiring four parcels of land totaling 462 acres in Selangor for RM395mil, including 95.02 acres in Sepang from Nurani Saujana for RM206mil and 367 acres in Kuala Selangor from Asian Regal Holdings for RM189mil.

Additionally, Y&G said it was acquiring Konsep Wawasan Sdn Bhd for RM82mil.

Hup Seng Industries reported a 5.7% decline in net profit to RM8.5mil for the second quarter ended June 30, down from RM9.03mil a year ago, with earnings per share falling to 1.06 sen from 1.13 sen.

However, revenue increased 5.7% to RM84.8mil compared to RM80.2mil in the same period last year.

HCK Capital is acquiring a third plot of land measuring approximately 1.2340 acres within the Setia City BizPark in Bukit Raja, Selangor, for RM19.35mil.

Inta Bina has accepted a letter of award from GDP Architects Sdn Bhd, on behalf of 368 Segambut Sdn Bhd and a joint-venture between IJM Land Bhd and FCW Holdings Bhd, for main building works worth RM264.5mil.