KUALA LUMPUR: JF Apex Research expects Puncak Niaga, Kossan Rubber
, Sasbadi and Maybulk to be among the stocks to watch on Tuesday.
It said Puncak Niaga bagged a contract to maintain a water treatment plant in Beaufort, Sabah.
As for Kossan Rubber, the group inked a joint venture agreement with Aseptapak Ltd and Aseptapak UK Ltd to acquire from Medicare Products Ltd the "Aseptapak Innovation", the latest technology involving automated packing.
Published Sasbadi rescinded its RM2.6mil purchase of PMI Education Sdn Bhd, due to the non-fulfilment of several conditions precedent by the vendors. The publisher said it would be able to get a refund of its RM1mil deposit within seven days.
Maybulk has issued a profit warning ahead of the release of its financial results for the 4QFY15 and full year FY15, saying that it expects to record a "substantial loss" due to unfavourable market conditions.
Trading in Shell Refining Company has been voluntarily after its Royal Dutch Shell, the global oil giant, is selling its entire 51% stake in a refinery in Port Dickson to a Chinese company in a transaction that values the asset significantly lower than its market price.
StarBiz reported Shell said it was disposing of its majority stake in Shell Refining Company (Federation of Malaya) Bhd or SRC to Malaysia Hengyuan International Ltd (MHIL) for US$66.3mil (RM276mil).
The transaction values SRC at RM551mil, or RM1.80 a share, while the market capitalisation of the company as at Friday’s close was RM1.48bil at RM4.94
Overnight on Wall Street, US markets ended mixed overnight after decline in oil prices and lower manufacturing data from China. European stocks closed slightly lower as China's PMI contracted for a six straight month.
Last Friday, the FBM KLCI rallied 33.27 points to close at 1,667.80.
“Following the lackluster performance in the US and Europe, the KLCI is expected to be range bound and trend sideways,” it said.
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