KUALA LUMPUR: JF Apex Research expects Destini Bhd, T7 Global Bhd, AEON Credit Service (M) Bhd, Top Glove Corp Bhd, Top Glove Corp Bhd, Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd to be among the stocks to watch on Tuesday.
Destini has bagged an extension for its maintenance, repair and overhaul (MRO) contract with the Royal Malaysian Air Force.
T7 Global has secured a 10-year contract from Petronas Carigali Sdn Bhd for the leasing, operation and maintenance of a mobile offshore production unit (MOPU) for Phase 2 of the Bayan gas redevelopment project.
Aeon Credit reached an out-of-court settlement with the Inland Revenue Board (IRB) under which the unpaid taxes sought from the company have been significantly reduced.
The group said the amount sought from the financial services company, inclusive of penalties, has been brought down to RM10.31mil, from RM96.82mil previously.
Ageson’s 75%-owned subsidiary Ageson Holdings Sdn Bhd (AHSB) has inked a development rights agreement with Menteri Besar Inc (Perak) to develop a mixed development with an estimated gross development value of RM1.24bil on some 475 acres of land in Batang Padang district in Perak.
Separately, it announced that it will pay part of an outstanding sum it owed to RHB Bank Bhd. Ageson did not disclose the sum involved. RHB had filed a suit against the group over a RM33mil term loan.
Focus Dynamics has proposed to split each of its shares into three shares in a move to improve the trading liquidity of the shares.
Top Glove announced that the company will be declaring a special dividend of 20% for the remaining FY21.
The special dividend will be on top of its existing dividend policy of a 50% payout ratio on profit after tax and minority interests.
MRCB and George Kent joint venture (JV) and Light Rail Transit 3 (LRT 3) contractor MRCB-George Kent Sdn Bhd (MRCBGK) said Prasarana Malaysia Bhd’s payment on Oct 2, 2020 were only for construction works done up to end-June 2020.
MRCBGK said Prasarana’s delayed payments of more than RM700mil were from July 2020 to October 2020, which have been certified for payment by Prasarana’s independent consultant KL Prima Consult Sdn Bhd.
New Hoong Fatt said 79 of its employees tested positive for Covid-19 at its plastic parts production factory in Meru, Klang.
Lii Hen said the Enhanced Movement Control Order (EMCO) at its foreign workers dormitory in Muar, Johor has been extended to Jan 15.
Meanwhile, US markets tumbled overnight following concerns ahead of Tuesday’s Georgia runoff elections, which will determine whether Republicans can hold on to control in the Senate.
Investors fear that increased tax rates and more progressive policies could become reality if Democrats gain control of the Senate.
Earlier, European stocks advanced on the first trading session of the new year, despite lingering concerns over the rising number of coronavirus cases around the world.
Following the decline in Wall Street, JF Apex said the FBM KLCI could remain pressured with support at 1,590 points