KUALA LUMPUR: JF Apex Research expects AirAsia
Group, Lambo Group Bhd, Focus Dynamics Group Bhd, GHL Group,Kejuruteraan Asastera Bhd (KAB) and Protasco Bhd to be among the stocks to watch on Tuesday.
Tata Sons plans to quit its budget airline venture with AirAsia as the Covid-19 pandemic batters the aviation business, according to an Indian media report. Malaysia's AirAsia owns 49% of AirAsia India.
Lambo said it bought 22.79 million shares, or a 1.11% stake, in Focus Dynamics for RM25.65mil at the open market between last Monday and last Friday.
GHL Systems Philippines Inc, a wholly-owned subsidiary of GHL, announced that its new lending unit GHL Philippines Financing Services has received relevant certifications to commence operations.
Kejuruteraan Asastera said the parties which its subsidiary is suing for alleged breach of terms in work orders, have filed a counterclaim seeking RM17.82mil in damages.
Saudee has proposed the acquisition of two meat trading firms for RM20mil in a move to expand its offerings, especially the premium product range.
Protasco is disposing of three plots of commercial land in Johor to NSK Property Sdn Bhd, for RM16.72mil in cash, with proceeds to be used to pare down its existing term loan and generate additional cash flow.
Texchem Resources has received an unusual market activity enquiry from Bursa Malaysia Securities over the spike in the company’s share price and volume.
The group said the trading interest in its stock might have been driven by an article on an investment-focused blog.
Top Glove said it is set to build two factories every year to keep pace with global demand for rubber gloves, amid increased usage in the medical industry and heightened hygiene awareness among people due to the Covid-19 pandemic.
Meanwhile, US markets ended mixed after giving up intraday gains with the Nasdaq falling 2% amid corporate earnings and higher coronavirus cases.
Earlier, European stocks climbed following hopes of a potential coronavirus vaccine.
“Following the mixed performances in the US and Europe, the FBM KLCI could take a breather from recent gains and hover below the resistance of 1,615 points,” JF Apex said.
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