KUALA LUMPUR: DRB-Hicom Bhd
, Binastra Corp Bhd, Econpile Holdings Bhd, Pekat Group Bhd, NPC Resources Bhd, Scanwolf Corp Bhd and Puncak Niaga Holdings Bhd are among the stocks to watch on Tuesday.
DRB-Hicom received a notice of assessment from the Inland Revenue Board amounting to RM246.3mil for the year 2020 assessment.
Binastra has secured a RM235.5mil contract from Mightyprop Sdn Bhd to undertake construction work for a 39-story serviced apartment in Petaling Jaya, Selangor.
Econpile has secured a RM71.2mil contract to undertake demolition, substructure and basement work for a 55-storey building located along Jalan Sultan Ismail, Kuala Lumpur.
Pekat’s indirectly-owned unit Solaroo RE (Maldives) Pvt Ltd has secured a 10-year contract worth USD6.9mn to supply solar-generated electricity to Maldives-based Sun Investments Pvt Ltd.
NPC Resources is disposing of its indirectly-owned wholly-owned subsidiary, PT Enggang Alam Sawita, to PT Bayan Resources Tbk and PT Bayan Energy for RM29.33mill.
Scanwolf’s wholly-owned subsidiary, Scanwolf Flooring Industries Sdn Bhd, has recently secured multiple flooring supply contracts totalling RM16.1mil.
Puncak Niaga’s wholly-owned subsidiary, TRIplc Bhd, entered into a share sale agreement on Aug 21, 2024, with Jinze Sdn Bhd for the disposal of 202,500 ordinary shares representing 4.5% equity interest in Zuriat Watan Sdn Bhd for a disposal price of RM3.6mil.
Meanwhile, TA Securities said blue chips are likely to extend range-bound trade after the recent volatility. At the same time, investors assess key economic data from regional and North Asian countries for further market leads.
“Immediate index support remains at the recent correction low of 1,633, with 1,620 and 1,600 acting as stronger supports.
“Key resistance will be the recent high of 1,684, then 1,695, Dec 2020 high, followed by the 123.6%FP (1,702) and 138.2%FP (1,741) of the 1,369 low to the 1,638 high,” it said.
