KUALA LUMPUR: Stocks to watch on Tuesday include Sime Darby Bhd, GuocoLand (M) Bhd, Hextar Industries Bhd (HIB), Advancecon Holdings Bhd, LBS Bina Group Bhd, Ibraco Bhd, SLP Resources Bhd, Asdion Bhd and Maxis Bhd.
Sime Darby Bhd is exiting the healthcare business by selling its entire 50% equity interest in Ramsay Sime Darby Health Care Sdn Bhd (RSDH) to Columbia Asia Healthcare Sdn Bhd (Columbia Asia) for RM2.84bil.
GuocoLand’s net profit surged threefold to RM4.79mil in its first quarter ended September 30, 2023 from RM1.57mil a year ago, attributed to overall improvement in the property development and hospitality divisions.
HIB has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it looks to enhance the group's credibility, prestige and reputation.
Advancecon has secured an earthworks contract valued at RM22.78mil for the Bandar Universiti Pagoh development undertaken by Sime Darby Property Bhd in an industrial park in Muar, Johor.
LBS Bina has secured a solar power capacity of 28.67 megawatts under the Corporate Green Power Programme (CGPP) — a renewable energy initiative by the government that allows corporate consumers to virtually purchase solar energy from solar developers.
Ibraco and China Railway Group Ltd have clinched a construction project worth RM568.81mil involving infrastructure works for the Kuching Urban Transportation System (KUTS).
SLP Resources’ third quarter net profit dropped 45.98% to RM2.67mil from RM4.94mil a year earlier, due to a change in product mix and higher production cost per unit following an increase in utility cost, as well as lower plant utilisation.
Asdion has received a winding-up petition from Renox Stainless Steel Co Ltd for the sum of RM67,081.30 indebted to the latter.
Adventa Bhd has announced the resignation of its chief executive officer Datuk Mark Victor Rozario, effective Nov 15.
Maxis Bhd’s net profit for the third quarter ended Sept 30, 2023 dropped 6.8% to RM287mil from RM308mil a year ago due to restructuring charges related to cost optimisation initiatives aimed at improving operational efficiency.
Lembaga Tabung Angkatan Tentera (LTAT) has issued an unconditional mandatory takeover offer (MTO) notice to acquire the remaining shares it does not own in Boustead Plantations Bhd (BPlant) for a cash price of RM1.55 per share.
Overnight, Wall Street closed with a mixed performance as investors awaited fresh inflation data.
The Dow Jones Industrial Average rose 0.16% to 34,337.87, the S&P 500 lost 0.08% to 4,411.55 and the Nasdaq Composite dropped 0.22% to 13,767.74.
Apex Securities expect bargain hunting activities to emerge on the local stock market today following last week's volatile period.
“Still, upsides will be choppy and we advocate investors to exercise caution with focus onto the on-going quarterly results season. Key economic events to monitor this week includes the US inflation data and US – China talks as well as Malaysia’s 3Q23 GDP data.
“We expect the O&G sector will see some rise support by rebound in oil prices,” it said.