KUALA LUMPUR: JF Apex Research expects Tenaga Nasional, Yinson
, CCM Duopharma and Kelington to be among the stocks to watch on Tuesday after their corporate announcements.
Tenaga Nasional and its 30%-owned unit GMR Energy Ltd (GEL) are venturing into India to operate and maintain power plants in India. This will be undertaken by its unit TNB Repair and Maintenance Sdn Bhd.
Bad news from Yinson after its 49% joint venture PTSC Asia Pacific Pte Ltd had received a notice of termination for convenience from PetroVietnam Technical Services Corp (PTSC) under a 2012 bareboat charter contract. The bareboat charter contract will terminate on June 30, 2017.
JF Apex Research said CCM Duopharma has partnered with India’s Natco Pharma Ltd (Natco) and Biocon Ltd to offer affordable cancer and insulin therapies in Malaysia.
As for Kelington, it has secured two new contracts in China from a global multinational corporation (MNC) semiconductor manufacturer worth RM19.3mil.
GHL Systems will begin offering AliPay payment acceptance services to Malaysian in-store merchants, as well as online ones.
As for MMC, the research house said it will acquire the remaining 51% stake in Penang Port Sdn Bhd (PPSB) for RM220mil cash consideration to gain full control of PPSB.
Alam Maritim bagged a RM26.09mil job to supply a 40-tonne utility boat for the Terengganu Crude Oil Terminal Operation in Kerteh, Malaysia.
HSS Engineers’ associate company, HSS Integrated Sdn Bhd, has received a RM17.89mil reference design consultant 05 (RDC05) deal for the Kuala Lumpur-Singapore High-Speed Rail (HSR).
On Wall Street, US markets closed lower as sentiment was impacted by a drop in car sales in March. European stocks ended lower after a bomb exploded in Russia that left 10 people dead.
At Bursa Malaysia, the FBM KLCI gained 5.40 points to end at 1,745.49to halt last week's decline.
“Following the negative performance in the US and Europe, the FBM KLCI could remain sideways below the resistance of 1,770,” it said.
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