KUALA LUMPUR: Tenaga Nasional Bhd
and Xin Hwa Holdings Bhd are among the stocks to watch on Monday, according to JF Apex Research.
Tenaga said it has set aside RM150mil following the Government’s stimulus announcement today that Malaysian households and businesses will get tiered rebates for six months on their electricity bills.
Xin Hwa Holdings announced that its wholly-owned subsidiary Xin Hwa Trading & Transport Sdn Bhd (XHTT) has been appointed by Malaysia Marine and Heavy Engineering Sdn Bhd as a subcontractor of logistics services.
The company expects to generate revenue of about RM2mil per annum from the three-year contract.
Meanwhile, US markets declined on Friday as investors took profit from the relief rally as the coronavirus spreads in the US.
Earlier, European stocks tumbled as investors wait for governments to agree on a unified response towards the coronavirus.
“Following the negative performances in the US and Europe, the FBM KLCI could consolidate below the resistance of 1,370 points,” JF Apex said.
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