KUALA LUMPUR: Uzma Bhd, Top Glove Corp Bhd, Guocoland (M) Bhd, Pintaras Jaya Bhd, PRG Holdings Bhd, Malaysia Building Society Bhd and Bumi Armada Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.
Uzma has secured a RM100mil contract from Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd as well as another contract worth RM36mil from Petronas Carigali Sdn Bhd.
Top Glove Corp Bid’s subsidiary Top Care Sdn Bhd will receive a total of RM245mil as full and final settlement of several disputes.
GuocoLand is selling Menara Guoco in Damansara Heights to Tower Real Estate Investment Trust (Tower REIT) for RM242.1mil cash.
Pintaras Jaya Bhd secured several piling contracts worth a combined RM116mil.
PRG’s 54.19%-owned subsidiary Furniweb Holdings Ltd, which is listed on the Growth Enterprise Market (GEM) board of the Stock Exchange of Hong Kong, has issued a profit warning.
MBSB’s net profit surged 202.38% to RM356.69mil in the fourth quarter ended Dec 31,2019.
Bumi Armada Bhd has secured a loan facility of US$64.3mil (RM270.86mil) to fund the repayment of its existing loan, transaction expenses and financing cost.
Meanwhile, US markets rallied overnight in a sharp rebound with the Dow rising 5% as investors expect the Federal Reserve to cut interest rates.
Earlier, European stocks surged on hopes of central banks introducing monetary policies and economic stimulus to mitigate impact from the coronavirus.
“Following the bullish performances in the US and Europe, the FBM KLCI could follow suit and stage a rebound towards the resistance of 1,520 points, ” JF Apex said.
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