Trading ideas: KAB, T7, Unisem, Central Global, CIMB, UMW, BCM

KUALA LUMPUR: JF Apex Research expects Kejuruteraan Asastera Bhd (KAB), T7 Global Bhd, Unisem (M) Bhd, Central Global Bhd, CIMB Group Holdings Bhd, UMW Holdings Bhd and BCM Alliance Bhd to be among the stocks to watch on Tuesday.

KAB has received a letter of award (LoA) from Mydin Wholesale Emporium Sdn Bhd and has inked a principal term sheet agreement with FT Hose & Hose Sdn Bhd to install a total of 4,971-kilowatt peak (kWp) solar systems.

T7 Global has bagged a contract to provide mini remotely operated vehicle (ROV) underwater services for Pan-Malaysia petroleum arrangement contractors – Package B.

Unisem has temporarily suspended operations of its Ipoh plant in Kawasan Perindustrian Pulai Jaya from July 25, in line with the implementation of the Enhanced Movement Control Order (EMCO) by the government.

Central Global has proposed to undertake a bonus issue of up to 216 million new shares on the basis of two bonus shares for every one existing share on an entitlement date to be determined later.

CIMB Group's subsidiary CIMB Bank Bhd has proposed to issue HK$640mil (about RM348mil) worth of bonds under CIMB Bank’s US$5bil Euro Medium Term Note (EMTN) programme.

IGB REIT saw its 2QFY21 net property income (NPI) rise by 69% year-on-year underpinned by higher rental support provided to tenants.

UMW Holdings is expecting minimal sales for UMW Toyota Motor (UMWT) and Perodua vehicles in July, amid the prolonged national lockdown.

The group said the ongoing Full Movement Control Order 3.0 has adversely impacted the domestic automotive sector, with only 1,921 units sold in June.

BCM Alliance is teaming up with Hong Kong-based rLoop Ltd to manufacture and assemble virus attenuation devices using photon-mediated electrons and emitters under rLoop’s own brand name “rGuard”.

The US market ended higher overnight with major indexes extendings record highs after the second quarter reporting season producing positive results.

Earlier, European stocks ended slightly lower amid concerns over

Covid-19 as Germany's business sentiment fell unexpectedly.

“Following the recent decline, the FBM KLCI could remain sideways above the support of 1,500 points,” JF Apex said.