Trading ideas: SCGM, Malayan United Industries, Kerjaya Prospek, PetChem, Hextar Global, Pos Malaysia, Berjaya Assets


KUALA LUMPUR: Stocks to watch for on Tuesday include SCGM, Malayan United Industries, Kerjaya Prospek, PetChem, Hextar Global, Pos Malaysia, Berjaya Assets, TSH Resources, IOI Properties, LBS Bina, Kawan Food, Supermax, MSM Malaysia and Panasonic, said JF Apex Research.

SCGM Bhd plans to distribute RM2.21 per share to its shareholders from the proceeds of the disposal of its 100% equity interest in Lee Soon Seng Plastic Industries Sdn Bhd for RM544.38 million cash.

Malayan United Industries Bhd (MUI) is selling of a 6.84-acre freehold land in the United Kingdom, which includes a hotel, for RM82.5 million.

Kerjaya Prospek Group Bhd is on track to achieve RM1 billion in revenue this year as construction activities normalise.

Companies with improved quarterly results include PetChem, Hextar Global, Pos Malaysia, Berjaya Assets, TSH Resources, IOI Properties Group, LBS Bina and Kawan Food.

Companies with lower corporate results include Supermax Corp, MSM Malaysia Holdings, and Panasonic Manufacturing Malaysia.

Meanwhile, JF Apex said the FBM KLCI could break it support of 1,483 points with the next support at 1,475 points following the bearish performance in the US.

The US market plunged overnight for its worst day since June led by losses in tech and consumer stocks as investors expect the Federal Reserve to remain hawkish.

Similarly, European stocks declined sharply following concerns of further interest rate hikes by the European Central Bank.

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