Trading ideas: Reservoir Link Energy, MyNews, Sapura Energy, Binastra, ICS, Reservoir Link and Prolintas

KUALA LUMPUR: Companies that could attract trading interest on Tuesday include Reservoir Link Energy, MyNews, Sapura Energy, Binastra, ICS, Reservoir Link and Porlintas, said Apex Securities Research.

Reservoir Link Energy Bhd’s wholly-owned subsidiary Reservoir Link Renewable Sdn Bhd has entered into a shareholders’ agreement (SA) with Sumitomo Corp, MAQO Engineering Sdn Bhd and SRM Utama Selambau Sdn Bhd to develop and operate a 29.99 MWac ground-mounted solar photovoltaic project in Kedah.

MyNews Holdings Bhd remains confident that “the worst is over” after posting its second consecutive profitable quarter for the financial quarter ended Jan 31, 2024 (1QFY2024) on the back of higher sales.

Sapura Energy Bhd said that it is “not out of the woods” yet despite net loss narrowing to RM728.44 million in the fourth quarter ended Jan 31, 2024 (4QFY2024) from RM3.26 billion a year earlier.

Binastra Corp Bhd posted a record-high net profit of RM15.38 million for its fourth quarter ended Jan 31, 2024 (4QFY2024), a jump of 176.32% compared with RM5.57 million a year earlier, on the back of higher revenue driven by its construction segment.

Building and infrastructure construction company TCS Group Holdings Bhd has secured a contract worth RM140.27 million to undertake building works for a proposed commercial complex known as Bandar Seri Coalfields Retail Park in Sungai Buloh, Selangor.

Energy-related services provider Reservoir Link Bhd will form a joint venture company to undertake a 29.99 MWac ground mounted solar photovoltaic project in Kedah.

Projek Lintasan Kota Holdings Sdn Bhd (PLKH), the major shareholder of newly-listed Prolintas Infra Business Trust, has yet to decide whether to inject two more highways under its belt into the listed business trust.