KUALA LUMPUR: Stocks to watch on Tuesday include Telekom Malaysia Bhd
(TM), Southern Score Builders Bhd (SSBB), Tenaga Nasional Bhd (TNB), Vitrox Corp Bhd, PUC Bhd, Kinergy Advancement Bhd, Heineken Malaysia Bhd and Country Heights Holdings Bhd.
TM has entered into a RM1.25bil concession agreement with the government to implement the Next Generation Emergency Services 999 (NG999) as a continuation of Malaysia Emergency Response Services 999 (MERS999).
SSBB has received a letter of award from Smart Advance Resources Sdn Bhd to serve as the turnkey contractor for the proposed development of three residential apartment blocks in Setapak, Kuala Lumpur, worth RM315mil.
TNB said the decision by the Energy Transition and Water Transformation Ministry to maintain electricity tariffs until December 31 this year is neutral on the utility company and will not have any effect on its business operations.
ViTrox will begin construction of the first block of its planned five-block ViTrox Institute of Technology (VIT) on July 8 after it had appointed South Island Building Sdn Bhd (SIB) as the contractor for the project in a deal worth RM45.99mil.
PUC said it has entered into a deal to sell some of its software and intellectual property (IP) rights for RM22mil cash.
Kinergy Advancement has partnered with Johor Corp (JCorp) to undertake and develop sustainable energy solution projects with a specific focus on energy-efficient initiatives for data centres.
Heineken Malaysia has appointed Martijn Rene van Keulen as new managing director (MD), effective Monday.
Country Heights is working closely with the Malaysian Department of Insolvency (MDI) to resolve the winding-up of its indirect wholly-owned subsidiary Mines Waterfront Business Park Sdn Bhd (MWBP) and return it to solvent status.
Overnight, the Dow Jones Industrial Average rose 0.13% to 39,169.52, the S&P 500 gained 0.27% to 5,475.09 and the Nasdaq Composite gained 0.83% to 17,879.30.
Apex Securities reckons that with global developments showing signs of improvement, positive sentiment may also trickle down to stocks across Bursa Malaysia.
“For now, the local bourse may attempt to take a jab towards the 1,600 points, while the lower liners may continue to capitalise onto the positive sentiment. Investors will be keeping a close tab on Federal Reserve Chairman Jerome Powell's speech later tonight which may provide a hint over an imminent rate cut.
“Sector wise, we reckon the energy sector may advance along with the higher oil prices on improved summer demand and extension of production cut till end-2025. Also, the improved performance on Nasdaq overnight may potentially transpire to stronger trading interest within the technology sector,” Apex said.
