Shangri-La, Alam Maritim, TRC Synergy to see trading interest

KUALA LUMPUR: Shangri-La, Alam Maritim and TRC Synergy would be among the stocks to watch on Tuesday following recent corporate developments, says JF Apex Research.

It said in Shangri-La, its major shareholder Robert Kuok acquired a 22.2% block of shares from Standard Chartered Private Equity at RM3.35 per share which prompted the talk of privatisation of the hotelier.

JF Apex Research said as for Alam Maritim, the group secured a RM182mil oil & gas contract to provide underwater services.

In ETI Tech, the group has failed to settle debts worth RM11.7mil.

As for TRC Synergy, the group will team up with Syarikat Prasarana Negara on a RM687.6mil GDV of mixed development project near Subang.

Meanwhile, on the external front, US stocks bounced off their worst levels but still ended in negative territory Monday, as initial euphoria over Cyprus fizzled and even after Eurogroup head's Jeroen Dijsselbloem backtracked on his previous comments that the island nation's bailout is a template for bank rescues.

Smilarly, European shares erased their early gains to finish in negative territory, pressured by banks.

JF Apex Research as for Bursa Malaysia, the FBM KLCI which surged 17 points to 1,643.89 on Monday, could see some profit taking following the decline in US and European markets.

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