KUALA LUMPUR: Stocks to watch for in Tuesday trade include WZ Satu, Destini
, Hai-O, Top Glove and Scomi Group, according to JF Apex research.
In a Tuesday report, the research house said WZ Satu has bagged a RM133.5mil sub-contract job to construct bridges from Genuang to Paloh for the Gemas-Johor Baru electrified double track project.
Destini has won a three-year contract for the provision of tubular handling, conductor installation and slot recovery equipment and services for Petronas Carigali Sdn Bhd.
Hai-O’s net profit for its 2QFY18 fell 37% y-o-y, on lower sales from its multilevel marketing (MLM) segment; Top Glove's net profit grew 4.4% y-o-y in its 1QFY19 results as sales jumped on strong demand growth in both developed and emerging markets.
Scomi Group confirmed that the Mumbai Metropolitan Region Development Authority (MMRDA) has terminated the monorail contract awarded to Scomi and its Indian partner 10 years ago.
In US markets overnight, major indices were routed with the S&P500 dropping more than 2% to a new 2018 low while the Dow Jones plummeted 500 points.
European markets also closed lower amid fears of a global growth slowdown.
Meanwhile in oil markets, US crude fell 2.6% to a 14-month low at US$49.88 a barrel on oversupply concerns.
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