KUALA LUMPUR: Stocks to watch for on Tuesday include Westports, MSM Malaysia, Lagenda Properties, LBS Bina, Uzma and MyEG Services, said Apex Research.
The Ministry of Finance (MOF) has granted Westports Holdings Bhd’s wholly-owned subsidiary Westports Malaysia Sdn Bhd (WMSB) a 10-year investment tax allowance (ITA), commencing from Jan 1, 2022 to Dec 31, 2031.
MSM Malaysia Holdings Bhd slipped into the red with a net loss of RM72.8 million for the third quarter ended Sept 30, 2022 compared with a net profit of RM96.86 million a year earlier.
Lagenda Properties Bhd saw its third quarter net profit decline 21.54% to RM35.73 million from RM45.54 million a year earlier, mainly due to upfront costs incurred in preparation for future project launches.
LBS Bina Group Bhd’s net profit for the third quarter ended Sept 30, 2022 jumped 94.93% RM35.35 million from RM18.14 million in the same period last year, driven by solid revenue growth from its property development segment.
Uzma Bhd’s wholly owned subsidiary Uzma Engineering Sdn Bhd has bagged a contract from Petronas Carigali Sdn Bhd for the leasing, operation and maintenance of a D18 water injection facility.
MyEG Services Bhd has inked a four-year collaboration agreement with the Institute of Industrial Internet and Internet of Things of the China Academy of Information and Communications Technology (CAICT) which will own and operate the Xinghuo International Supernode that will provide connectivity from China to the rest of the world.
In addition, Apex said stocks perceived to be related to Prime Minister candidates Datuk Seri Anwar Ibrahim (ASB and MUI) and Tan Sri Muhyiddin Yassin (Eden and Thriven) will continue to attract trading opportunities.
Meanwhile, the research firm said the FBM KLCI could remain under pressure below the resistance of 1,466 points following the decline on Wall Street.
The US market slipped lower overnight on fears that China could resume stricter measure to curb COVID-19 after it said it faces its most severe test of the pandemic.