Trading ideas: ARK Resources, Perak Corp, Tan Chong Motor, HI Mobility, Crescendo

KUALA LUMPUR: Stocks to watch today include ARK Resources Holdings Bhd, Perak Corp Bhd, Tan Chong Motor Holdings Bhd, HI Mobility Bhd and Crescendo Corp Bhd.

ARK, through its wholly-owned subsidiary Ark Resources Bhd, has entered into a joint venture with Premium Flame Development Sdn Bhd to develop a 500-unit residential project on 9,472.8 sqm of land in Barat Daya, Mukim 10, Pulau Pinang, with a gross development value of about RM275mil and an estimated development cost of RM226mil.

Perak Corp has entered into a collaboration agreement with Megaconn Technologies Sdn Bhd (MTSB) to jointly procure and secure a concession award for the development and implementation of smart water meter initiative in Perak.

Tan Chong Motor Holdings Bhd said its sub-subsidiary Tan Chong Motor Assemblies Sdn Bhd (TCMA) had entered into a letter of intent with Perodua Sales Sdn Bhd with regards to services provided for a Perodua battery electric vehicle project.

HI Mobility is acquiring Handal BCM and Acacia Motor Services for a combined RM82.53mil via share issuance as part of its strategy to strengthen its mass transit operations.

The group said the acquisitions will create operational synergies, boost efficiency and support its expansion into the electric bus segment.

Crescendo is selling a 40.10-acre industrial land parcel in Kota Tinggi, Johor, to Pioneer Real Estate Development for RM200.88mil and has also granted the buyer an option to purchase an adjoining plot valued at RM249.07mil.