KUALA LUMPUR: JF Apex Research expects Awanbiru Technology Bhd
, Gadang Holdings Bhd, My E.G. Services Bhd, Petronas Dagangan Bhd, MMC Corp Bhd and Guan Chong Bhd to be among the stocks to watch on Tuesday.
AwanBiru Technology has disposed of its 51% stake in Prestariang O&G Sdn Bhd to its joint venture (JV) partner MIE Corporate Holdings Sdn Bhd as part of the technology and talent company’s rationalisation plan to discontinue non-profitable operations.
Gadang is selling a parcel of residential land located in Jalan Kolam Air, Taman Melawati for a total cash consideration of RM43mil to repay bank borrowings and for the group’s working capital.
JF Apex noted that MyEG, PetDag, MMC, Boilermech, Radiant Globaltech, Tiong Nam, Taliworks recorded higher year-on-year quarterly earnings whilst Guan Chong, Hextar Global, MAHB, PetGas posted weaker year-on-year quarterly results.
Meanwhile, The US market rose overnight with the S&P and Nasdaq hitting record highs after regulators granted full approval for the Pfizer-BioNTech’s Covid vaccine, sparking optimism on economic recovery.
Earlier, European stocks also climbed despite slower PMI data for Europe and the UK.
“Following recent gains, the FBM KLCI could extend its rebound and test the resistance of 1,535 points,” JF Apex said.
