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KUALA LUMPUR: Stocks to watch on Monday include Perdana Petroleum Bhd, Scientex Bhd, IHH Healthcare Bhd, Barakah Offshore Petroleum Bhd, Yinson Holdings Bhd, Samaiden Group Bhd, Varia Bhd and Top Glove Corp Bhd.
Perdana Petroleum has secured contracts from Dayang Enterprise Sdn Bhd (DESB) worth RM13.4mil for the charter of one unit of anchor handling tug and supply (AHTS) vessel and one unit of accommodation work barge (AWB).
Scientex is set to acquire land in Batang Berjuntai, Kuala Selangor, for a total of RM335.68mil to enhance its property development land bank.
IHH has completed the acquisition of the entire equity interest in Bedrock Healthcare Sdn Bhd (BHSB), the owner of Timberland Medical Centre in Kuching, Sarawak, for RM245mil on a cash-free debt-free basis.
Barakah is seeking upfront approval from shareholders to sell its Kota Laksamana 101 barge at a minimum US$11.4mil cash, to a third-party purchaser to be identified later.
Yinson has issued RM640mil in nominal value of Islamic notes as part of its RM1bil perpetual sukuk wakalah programme established in 2022.
Samaiden has inked a 20-year power purchase agreement with Maxell Tohshin (Malaysia) Sdn Bhd to undertake the design and installation of an advanced solar photovoltaic system, with a capacity of 1,028.28-kilowatt peak (kWp) at Maxell Tohshin’s premises.
Varia has signed a memorandum of understanding with Sungai Klang Link Sdn Bhd to offer its expertise in assisting the preparation, management, control, and execution of works for the proposed Sungai Klang Link (SKL) elevated highway.
Two of Top Glove’s directors have stepped down from the world’s largest glovemaker’s board effective immediately, namely Datuk Lee Kim Meow and Rowina Ghazali Seth.
Mohamed Iqbal Abdul Rahman has retired as Pharmaniaga Bhd’s chief operating officer effective immediately, ending his 13-year tenure with the company.
Commenting on the market, Apex Securities said the FBM KLCI is expected to remain choppy, given the softer global market performance.
It said the lower liners may also see weakness on the back tepid trading sentiment. Economic-wise, all eyes will be focusing on US inflation data to be released this week.
“We reckon the technology sector may face a potential pullback hence, we advise investors to exercise caution when trading in this sector,” it added.
Meanwhile, crude oil prices have also fallen dragged by the lackluster demand from China.
Nonetheless, Apex Securities believes this presents an opportune moment for investors to engage in bottom fishing, considering the ongoing supply constraints that are expected to persist in the foreseeable future, particularly as tensions in the Middle East continue.
