KUALA LUMPUR: Stocks to watch on Tuesday include Perak Transit Bhd, Minetech Resources Bhd, Kerjaya Prospek Group Bhd, Axiata Group Bhd, RHB Bank Bhd, Straits Energy Resources Bhd, Johor Plantations Group Bhd, Capital A Bhd and Genting Bhd
Perak Transit’s shares rose as much as 7.83% or nine sen to RM1.24 after it proposed to undertake a bonus issue of up to 433.64 million new shares on the basis of one bonus share for every two existing ordinary shares to reward shareholders.
Abang Abdillah Izzarim Abang Abdul Rahman Zohari, the newly appointed executive chairman as well as the largest shareholder of Minetech, has upped his stake in the company to 16.34% from 15.58% previously.
Kerjaya Prospek has secured two contracts totalling RM95.1mil from two indirect subsidiaries of Eastern & Oriental Bhd (E&O) for construction projects in Penang.
Two more digital banks have received regulatory approval to begin commercial operations, namely Axiata and RHB Bank-linked Boost Bank, as well as AEON Bank linked to AEON Credit Service (M) Bhd.
The Sarawak State Financial Secretary is in talks with the Armed Forces Fund Board (LTAT) to potentially buy more shares in Affin Bank.
Straits Energy has bagged a contract to upgrade Hospital Canselor Tuanku Muhriz, Pusat Perubatan Univerisiti Kebangsaan Malaysia for RM40.73mil.
Johor Plantations Group has filed its prospectus exposure for its initial public offering (IPO) with the Securities Commission Malaysia (SC), with Johor Corp, through Kulim (M) Bhd, seeking to retain 65% stake post-listing.
Capital A chief executive officer Tan Sri Tony Fernandes will be meeting Thai Prime Minister Srettha Thavisin on Jan 10 to address foreign ownership limits for airlines of no more than 49% in Southeast Asia’s second-largest economy.
Genting Bhd was among the top gainers in early trade on Monday as investors cheered the potential upside from cheaper exposure to its 52.63%-owned Genting Singapore Ltd, which has recovered to above pre-Covid-19 levels.
Meanwhile, Apex Securities is closing monitoring the 1,500 resistance level following the strong uptrend. The robust recovery in Wall Street could potentially drive gains in our local market.
“The lower liners may continue to enjoy their extended gains amidst the robust liquidity and improved trading sentiment. Looking ahead, investors will be monitoring US CPI on Thursday and US PPI on Friday.
“Meanwhile, gold prices retreated ahead of the US inflation data. Following the weaker oil prices, we advocate traders to stay away from oil and gas-related stocks today,” Apex said.