Foreign funds have continued to be net buyers on Bursa Malaysia on Monday at RM167.64mil.
KUALA LUMPUR: WZ Satu, KUB Malaysia, Global Oriental, Muhibbah Engineering and DRB-Hicom could see trading action on Tuesday after their corporate news.
JF Apex Research said WZ Satu secured a RM43million subcontract to upgrade a federal road in Perak.
As for KUB Malaysia, it is selling its loss-making concrete business for RM19mil.
Global Oriental's 51%-owned subsidiary Sering Manis Sdn Bhd is buying 279.86 acres of land located just 11km from the peak of Genting Highlands for RM170.7mil.
The research house also said Muhibbah Engineering is buying 500 acres of land in Kuantan for RM26.45mil.
Meanwhile, DRB-Hicom unit Proton Holdings had proposed to issue 1.25 billion new redeemable convertible cumulative preference shares (RCCPS) to GOVCO Holdings, a 99.99%-owned by Minister of Finance (MOF).
The subscription of the new RCCPS will raise a total cash of RM1.25bil at an issue price of RM1 per share.
Overnight on Wall Street, US markets rose after oil prices climbed and Federal Reserve Chair Janet Yellen remained positive on the US economy. Earlier, European stocks ended mixed following a cautious sentiment in Asian markets.
At Bursa Malaysia, the FBM KLCI bucked regional trend to rise 12.53 points to 1648.99.
“Following the positive performance on Wall Street, the FBM KLCI could extend yesterday's gains and climb towards its resistance of 1,665,” it said.
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