Trading ideas: DNeX, Uzma, Pecca Group, Majuperak

DNex's subsidiary PING Petroleum UK Ltd (PING UK) is acquiring the remaining 50% stake in the UK offshore Avalon Oilfield from Sumitomo for US$17mil (RM71.72mil) under a deal said to stem from the seller's intention to shift away from the fossil fuel business and the buyer's decision to avoid any potential conflicts which may arise should the 50% stake be sold to a third party.

Meanwhile, through its business unit Innovation Associates Consulting Sdn Bhd, DNeX has bagged a 45-month contract worth RM88mil from the Ministry of Finance to maintain the Integrated Government Financial and Management System.

Uzma has secured a RM29mil work order from Petronas Carigali Sdn Bhd for the provision of a risk transfer incentive contract for idle well reactivations and production enhancement services.

Rentas Health Sdn Bhd, in which Pecca Group Bhd has proposed to acquire a 51% stake, has secured a RM25.2mil contract to supply Covid-19 polymerase chain reaction (PCR) test kits to the Ministry of Health.