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Trading ideas: MCE, Advancecon, Eduspec, Revenue and GIIB

KUALA LUMPUR: Stocks on investors' radar screen on Monday incude MCE, Advancecon, Eduspec, Revenue and GIIB, said Apex Research.

MCE Holdings Bhd as its unit has secured a contract to supply various electronic and mechatronics parts of a new car model under Perodua, which is expected to generate total revenue of about RM60.69 million.

Advancecon Holdings Bhd has proposed to undertake a private placement of up to 20% of the company’s total share base to raise as much as RM21.85 million to fund the development of a solar photovoltaic project.

Eduspec Holdings Bhd has proposed to undertake a rights issue with free warrants to raise as much as RM29.9 million for the repayment of borrowings, as well as to fund its education programs and digital school solutions business.

Revenue Group Bhd has filed police reports against two suspended executive directors over complaints, illegal forced entry and alleged theft.

GIIB Holdings Bhd chief executive-cum-executive chairman and executive director have been charged in court for allegedly furnishing fake documents to GIIB’s auditor in relation to the non-existent sale of RM2.95 million worth of machinery.

Meanwhile, Apex said the FBM KLCI could be weighed down by news of rising Covid-19 deaths in China.

The US market climbed on Friday on positive sentiment on lower inflation and expectation of the Fed slowing down its rate hikes, despite banks' quarterly earnings coming in below expectations.

Similarly, European stocks were positive amid corporate results and interest rate expectations.

https://www.thestar.com.my/business/business-news/2023/01/16/trading-ideas-mce-advancecon-eduspec-revenue-and-giib

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