KUALA LUMPUR: Yison, Chin Hin, Alam Maritim
, Top Glove and Tiger Synergy are among the stocks which could see trading interest on Tuesday, says JF Apex Research.
Yinson is selling its 26% stake in its 26% stake in its floating production, storage and offloading (FPSO) unit in Ghana to a Japanese consortium for between US$104mil and US$117mil.
StarBiz reported the members of the Japanese consortium are Sumitomo Corp, Kawasaki Kisen Kaisha Ltd, JGC Corp and the Development Bank of Japan.
“The group believes that the entry of these strategic shareholders will enable the parties to form a long-term relationship, which then allows each member to tap into the expertise and background of the rest,” according to Yinson’s group executive chairman Lim Han Weng.
Meanwhile, Tiger Synergy is partnering land owner LJ Development to undertake a residential and commercial development in Klang with a GDV of RM80mil.
Chin Hin plans to buy a 45% stake in three solar power companies for RM24.8mil to boostits venture into the growing sector.
Top Glove is disposing of a 36.84% stake in its Singaporean unit Sonic Clean Pte Ltd.
JF Apex Research said as for Bina Puri, it has received approval to list its subsidiary PT Megapower Makmur in Indonesia Stock Exchange.
Meanwhile, Alam Maritim saw its RM500m sukuk downgraded by the Malaysian Rating Corporation.
Overnight on Wall Street, US markets staged a rally with the Dow hitting a record high led by banking and energy counters as Wall Street closed on mid-day yesterday and today for Independence Day.
Earlier, European stocks advanced led by financial counters and oil and gas stocks.
On the local market, the FBM KLCI gained five points to end at 1,768.67 after rebounding from an intra-day low of 1,756.37.
“Following the bullish performance in the US and Europe, the KLCI could extend its rebound,” said JF Apex Research.
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