KUALA LUMPUR: Stocks that could be in focus on Tuesday include Bumi Armada
, Yinson, Citaglobal, Crest Builder, SMTrack and Rex Industry, said Apex Research.
Bumi Armada Bhd said its Armada Kraken floating production storage and offloading (FPSO) vessel operating in the UK North Sea has been shut-in due to a technical failure, and is expected to have a material impact on its financials.
Yinson Holdings Bhd is exercising a call option to acquire the entire 100% in floating production, storage and offloading unit (FPSO) Atlanta for up to RM402.36 million.
Citaglobal Bhd’s wholly-owned unit has served a notice of adjudication against IJM Construction Sdn Bhd, claiming RM20.82 million allegedly owed for work done in constructing part of the West Coast Expressway.
Crest Builder Holdings Bhd said an arbitration tribunal has awarded its subsidiary RM18.36 million in relation to its RM31.08 million counterclaim against Saujana Triangle Sdn Bhd in a payment dispute.
SMTrack Bhd, together with Jiankun, Sersol and MQ Technology have mutually agreed not to extend the Heads of Agreement pertaining to their 5G venture.
Rex Industry Bhd expects to recognise a provision for retrenchment costs amounting to RM2 million and other decommissioning expenses.
The US market declined overnight following losses in banking stocks after the regulators are contemplating increasing capital requirements for large banks.
Similarly, European markets dropped as the ECB president said inflation remains high and suggested the rate hike cycle will continue.
"Following the recent lacklustre performance, the FBM KLCI could trend sideways above its support of 1372 points," said Apex.
