KUALA LUMPUR: MK Land, Taliworks, Fajarbaru
, Econpile and Yinson are among the stocks to watch on Tuesday following their corporate news and announcements, says JF Apex Research.
It said MK Land's unit Saujana Triangle Sdn Bhd was slapped with income taxes and penalty worth RM80.77 million by the Inland Revenue Board (IRB) for assessment years 2009-2011 and 2013.
As for Taliworks, the total amount due to the group from Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) has risen to RM530mil, partly because SPLASH has not been receiving payments in full from water concessionaire Syarikat Bekalan Air Selangor Sdn Bhd (Syabas).
JF Apex Research said Fajarbaru Builder has bagged a RM29.5mil contract from Pos Aviation Sdn Bhd to renovate part of KLIA Air Cargo Terminal 1.
Econpile has bagged a RM48.5mil mixed-development contract from Pembinaan Kery Sdn Bhd, in a project commissioned by Pelaburan Hartanah Bhd.
Key Alliance is buying enterprise cloud solutions provider RapidCloud (M) Sdn Bhd for RM3.5mil cash to leverage on the latter's 10,000 clients and its existing reseller relationship with AliBaba Cloud and Alibaba Global Gold Supplier.
Yinson's unit Yinson Clover Ltd is forming a 49:51 joint venture with PetroVietnam Technical Services Corp to undertake bareboat project with a time charter contract costing US$648mil (RM2.79bil).
Gabungan AQRS is finalising the sale of its land in Dengkil, Selangor, to PR1MA Corp Malaysia, together with a 1,140-unit apartment block. Its 1QFY17 net profit jumped nearly 4.4 times on-year, on improved operating margin and sale of two pieces of land.
UOA Development’s 1QFY17 net profit fell 55% on-year as revenue declined 23%.
Lafarge Malaysia suffered its first loss-making quarter in 12 years with a net loss of RM48.93mil in 1QFY17 against net profit of RM20.65mil last year, dragged by weaker cement business.
CCM Duopharma's 1QFY17 net profit rose 22% on-year, mainly driven by the start of a distribution agreement with a business partner to supply insulin.
US markets advanced overnight amid President Donald Trump's first overseas visit to Saudi Arabia that produces a multi-billion arms deal. Earlier, European stocks ended mixed as Trump's visit to Israel was viewed as bringing peace and stability.
At Bursa Malaysia, the FBM KLCI gained 6.67 points to close at 1,774.95 points.
“Following its positive momentum, the benchmark index could climb towards its resistance of 1,785,” it said.
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