KUALA LUMPUR: Stocks to watch on Tuesday include Barakah Offshore Petroleum Bhd, AirAsia Group Bhd, Majuperak Holdings Bhd, UMW Holdings Bhd and Carlsberg Brewery Malaysia Bhd, according to JF Apex Research.
Barakah swung to a net profit of RM17.53mil for the third quarter ended March 31, 2020, from a net loss of RM41.93mil for the same period the year before, as lower costs more than offset lower revenue incurred.
AirAsia is spreading its wings into the agriculture industry with the launch of agriculture business-to-business (B2B) e-commerce platform Ourfarm. Meanwhile, the Group will restart all domestic routes from July.
Majuperak said it is set to undertake solid waste management and public cleansing services in Perak jointly with another firm, Mainiza Teknitek Recowaste Sdn Bhd.
UMW's net profit for the first quarter ended March 31, 2020 fell by almost half as the impact of the Covid-19 pandemic weighed on its automotive and equipment segments.
Carlsberg Brewery Malaysia has been told to pay RM6.36mil to the Customs Department as a full and final settlement on its bill of demand for sales tax and excise duty.
As a result, it said the financial impact of the settlement represents approximately 2.2% and 4.1% of the group's net earnings and net assets, respectively, for the year ended Dec 31, 2019.
Meanwhile, US markets rose overnight after the Federal Reserve said it would buy corporate bonds in the secondary market.
Earlier, European markets declined following concerns of a second wave of coronavirus.
“Following the mixed performances in the US and Europe, the FBM KLCI could remain lackluster and trend lower towards the support of 1,460 points,” JF Apex said.