KUALA LUMPUR: CYCLE & CARRIAGE BINTANG BHD, AIRASIA Group Bhd, Pestech International Bhd, Dialog Group Bhd and Malaysia Smelting Corp Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.
Cycle & Carriage Bintang’s controlling shareholder Jardine Cycle & Carriage Ltd has proposed to the board to undertake a selective capital reduction and repayment at RM2.20 per share.
AirAsia Group said its unit AirAsia Bhd (AAB) will be transferring two of its slots on the Kuala Lumpur-Singapore route, involving 14 flights, to AirAsia X Bhd (AAX).
It said AAX will share 50% of the net operating profit of the route with AAB on a monthly basis under an agreement between them.
Pestech has bagged a RM38.38mil contract from Tenaga Nasional Bhd for the supply and delivery of smart meters around the Klang Valley.
Dialog reported a 43.6% year-on-year jump in 1QFY20 net profit amid a 6.5% contraction in quarterly revenue.
Malaysia Smelting Corp’s third-quarter net profit nearly tripled to RM30.55 million from RM11.66mil a year earlier, thanks to a one-off provision write-back of RM48.4mil for tribute payments no longer required.
Overnight, US markets ended mixed amid concerns on US-China trade talks and heightened protests in Hong Kong.
Earlier, European stocks declined following worries on trade war, UK’s 3Q GDP and Spain’s election.
“Following the cautious sentiment in the US and Europe, the FBM KLCI could remain pressured below the immediate resistance of 1,610 points, ” JF Apex said.