KUALA LUMPUR: Stocks to watch on Tuesday include Kerjaya Prospek Group Bhd
, Axiata Group Bhd, Kim Teck Cheong Consolidated Bhd (KTC), Boustead Holdings Bhd, KYM Holdings Bhd, Bermaz Auto Bhd and Barakah Offshore Petroleum Bhd, according to Apex Securities.
Kerjaya Prospek bagged a RM404.35mil contract for a proposed residential development project in Kuala Lumpur.
Axiata said it will book a RM376.6mil write-off of related receivable assets, after an arbitration tribunal dismissed its claims over taxes imposed by the Nepalese government.
KTC is set to be transferred from the ACE Market to the Main Market of Bursa Malaysia on June 15.
Boustead will be on June 20 after its major shareholder LTAT control of a 97.63% stake.
KYM’s 1QFY24 net profit jumped 153.39% to RM11.27mil while Bermaz Auto’s 4QFY23 net profit grew 27.84% to RM100.62mil.
Barakah said its wholly-owned subsidiary, PBJV Group Sdn Bhd, has secured a three-year licence from Petronas.
Overnight, the US market extended its gains ahead of today’s key inflation data and the Federal Reserve’s policy meeting.
Similarly, European markets rose before the European Central Bank’s policy meeting, where economists expect another 25 basis point hike.
The Dow Jones Industrial Average climbed 189.55 points, or 0.56%, to close at 34,066.33. The S&P 500 added 0.93% to close at 4,338.93 and Nasdaq Composite closed up 1.53% to 13,461.92
“Following the recent rebound, the FBM KLCI could extend its gains towards the resistance levels of 1,390 points and 1,410 points,” Apex said.
