Moody's outlook on the Korean banking system has been negative since May 2016.
KUALA LUMPUR: Matang Bhd
, Felda Global Ventures (FGV), Maybank, HIL Industries and Mudajaya could see trading action on Tuesday in line with their corporate news.
Oil palm company Matang makes its debut on the ACE Market with an offer price of 13 sen.
JF Apex Research said in a research note that FGV has clarified that there has been no discussion on the matter of privatisation.
Meanwhile StarBiz reported FGV's parent, the Federal Land Development Authority (Felda) is seeking to sell about RM280mil worth of shares in Maybank, paring down its stake in the nation’s biggest bank, weeks after the government agency said it would acquire a substantial stake in an Indonesian planter.
HIL Industries is buying two property companies controlled by the family of its chairman for RM71mil. The companies come with approved projects in Selangor estimated to have a combined gross development value (GDV) of RM375.2mil.
Mudajaya said that the decision in an adjudication process will have a negative impact of RM98.35mil on its earnings for FY16, as the amount has been recognised as revenue in prior years.
Overnight, European stocks ended lower overnight led by banking, automotive and retail counters as investors wait for details on Brexit. US markets were closed for Martin Luther King Day.
JF Apex Research said at Bursa Malaysia, the FBM KLCI fell 13.66 points to 1,658.84 on foreign selling. Following the bearish momentum, the index could test its support of 1,645 on Tuesday.
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