KUALA LUMPUR: JF Apex Research expects Sunway Real Estate Investment Trust (Sunway REIT), Kumpulan Powernet Bhd, Ireka Corp Bhd, Sapura Energy Bhd and AMMB Holdings Bhd are among the stocks to watch on Tuesday.
Sunway REIT is buying The Pinnacle Sunway in Sunway City for RM450mil.
Ireka has bagged a RM163.9mil contract to build a 10-storey hospital extension block in Johor.
Kumpulan Powernet has accepted a letter of award to undertake civil works for two mini hydro power plants in Laos for US$40.7mil (RM174.5mil).
Sapura Energy returned to the black in 1QFY21 with a net profit of RM14.21mil compared to a net loss of RM109.1mil a year earlier.
Panasonic’s 4QFY19 net profit surged 34.92% year-on-year amid lower revenue.
Kim Loong's 1QFY21 net profit rose 57.9% year-on-year, on higher fresh fruit bunch (FFB) and crude palm oil prices by 26% and 25% respectively.
AMMB saw its 4QFY20 net profit fall 46.2% year-on-year due to a RM194.85mil allowance for impairment on loans, advances and financing, versus a RM271.56mil writeback of allowance for impairment on loans, advances and financing in 4QFY19.
Coastal Contracts’ net profit surged to RM43.84mil for the third quarter ended March 31, 2020 from RM58,000 in the same period a year ago on the back of higher revenue.
IHH Healthcare slipped into the red in its 1QFY20 due to goodwill impairment of RM400.5mil for Global Hospitals in India and a RM60mil foreign exchange (forex) loss relating to Khubchandani Hospitals in India upon liquidation.
Meanwhile, US markets rose overnight despite concerns of rising coronavirus cases and delay in reopening the economy in several states.
Earlier, European stocks advanced after euro zone economic sentiment improved in June.
“Following the positive performances in the US and Europe, the FBM KLCI could climb towards the resistance of 1,515 points,” JF Apex said.
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