KUALA LUMPUR: Stocks to watch on Tuesday include Astro Malaysia Holdings Bhd
, Sapura Energy Bhd, Favelle Favco Bhd, Microlink Solutions Bhd, CTOS Digital Bhd, Catcha Digital Bhd and Paramount Corp Bhd, according to Apex Securities.
Astro’s net profit for 2QFY23 increased 13% year-on-year (YoY) to RM98.47mil.
Sapura Energy’s net loss narrowed by 99.8% YoY to RM2.59mil for 2QFY23.
Favelle Favco has secured six orders worth a combined RM130.8mil from various customers.
Microlink has bagged a five-year contract worth RM48.55mil from Koperasi Co-opbank Pertama Malaysia Bhd (CBP) for the upgrade of its existing MiBS core banking platform.
CTOS further raised its equity interest in RAM Holdings Bhd to 57.68% after buying out MUFG Bank (Malaysia) Bhd’s 2.1% stake in the credit reporting firm for RM5.99mil.
Catcha Digital Bhd has been granted another six months — up to April 5, 2023 — by Bursa Securities to complete its proposed regularisation plan.
Paramount is disposing of its remaining stake in education units for RM120mil cash.
Omesti Bhd has secured a one-year contract from Telekom Malaysia Bhd (TM) relating to mobile services valued at RM20mil.
Meanwhile, the US market declined overnight for its fifth consecutive day of losses following concerns of a recession.
The Dow Jones Industrial Average fell 1.11% to end at 29,260.81 points, while the S&P 500 lost 1.03% to 3,655.04. The Nasdaq Composite dropped 0.6% to 10,802.92.
Similarly, European stocks ended lower as the British pound dropped to a record low against the US dollar.
“Following the recent bearish momentum, the FBM KLCI could extend its losses towards the support of 1,400 points,” Apex said.
