KUALA LUMPUR: JF Apex Research expects Amcorp Properties, Scan Associates, Maybank, Cahya Mata Sarawak, Malton and PJBumi to see trading interest on Tuesday.
It said on Tuesday Amcorp Properties signed a 21-year renewable energy power purchase agreement (REPPA) with Tenaga Nasional Bhd
.
Scan Associates is now classified as a Guidance Note 3 (GN3) company, following the High Court’s dismissal of the latter’s application to halt the classification.
Maybank, the group is exiting from Papua New Guinea (PNG) by hiving off its entire equity stake in Maybank (PNG) Ltd and Mayban Property (PNG) Ltd (MPPL) for RM418mil.
JF Apex Research said Cahya Mata Sarawak’s 1QFY15 net profit rose 47.6% on-year mainly on strong contributions from construction materials and trading, cement, and construction and road maintenance.
Malton bagged a RM208mil contract to build one block of Royale Pavilion Hotel along Jalan Bukit Bukit Bintang and Jalan Raja Chulan.
As for PJBumi, the group has signed three shipbuilding contracts worth RM44.46 million with Fast Boat Industries Sdn Bhd.
Overnight on Wall Street, US stocks climbed with the Dow and S&P hitting new highs after ignoring concerns on Greece and rising bond yields. Similarly, European markets ended higher after Greece stated its intention to enter into a new agreement with creditors by month-end.
JF Apex Research said at Bursa Malaysia, the FBM KLCI rose 11.58 points to 1,823.50 due to a last minute spike.
“Following the optimism in global markets, we expect the KLCI to test the resistance of 1,830 with potential profit taking from the recent upward rebound,” said the research house.
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