Trading ideas: MGB, Berjaya Assets, Comintel Corp, Perdana Petroleum, Cepatwawasan Group, Cycle & Carriage Bintang, Capital A and Serba Dinamik Holdings
KUALA LUMPUR: Stocks to watch for on Tuesday include MGB, Berjaya Assets, Comintel Corp, Perdana Petroleum, Cepatwawasan Group, Cycle & Carriage Bintang, Capital A and Serba Dinamik Holdings, said JF Apex Research.
MGB Bhd which has won a RM225.03mil contract for a housing development project in Bandar Putra Permai, Selangor, raising its outstanding order book to RM2.08bil.
Berjaya Assets Bhd has signed an option agreement with Extreme Broadband Sdn Bhd (EBSB) for the latter to buy 72 units in Menara MSC Cyberport, Johor Bahru, for RM69.61mil,.
Comintel Corp Bhd has bagged a RM52.825mil contract for the construction, piling and completion of basement works for a mixed development project in Damansara Perdana, Selangor.
Perdana Petroleum Bhd has secured a vessel chartering contract worth RM2.61mil for the provision of a unit of accommodation work barge (AWB) for an offshore project.
CepatWawasan Group Bhd’s net profit for 2Q22 rose 66.91% y-o-y to RM15.81mil.,
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Cycle & Carriage Bintang Bhd (C&C) returned to the black in 2Q22 with a net profit of RM6.48mil versus a net loss of RM1.8mil a year ago.
Capital A Bhd carried 5.56 million passengers in 2Q222, 48% more than its previous quarter.
Serba Dinamik Holdings Bhd said its creditors have approved the scheme of arrangement proposed by the group and its four subsidiaries, with between 83% and 100% creditors voting in support of it.
Meanwhile, JF Apex said the FBM KLCI could take a breather and consolidate below the resistance of 1,510 points following last week's gains.
The US market ended flat overnight as the Federal Reserve kicks off its two-day policy meeting later today with expectations of a 75 basis point rate hike.
Similarly, European stocks were mixed as investors braced for quarterly earnings and the Fed's rate hike decision.