KUALA LUMPUR: Stocks to watch on Tuesday include Astro Malaysia Holdings Bhd, Sapura Energy Bhd, Favelle Favco Bhd, Microlink Solutions Bhd, CTOS Digital Bhd, Catcha Digital Bhd and Paramount Corp Bhd, according to Apex Securities.
Astro’s net profit for 2QFY23 increased 13% year-on-year (YoY) to RM98.47mil.
Sapura Energy’s net loss narrowed by 99.8% YoY to RM2.59mil for 2QFY23.
Favelle Favco has secured six orders worth a combined RM130.8mil from various customers.
Microlink has bagged a five-year contract worth RM48.55mil from Koperasi Co-opbank Pertama Malaysia Bhd (CBP) for the upgrade of its existing MiBS core banking platform.
CTOS further raised its equity interest in RAM Holdings Bhd to 57.68% after buying out MUFG Bank (Malaysia) Bhd’s 2.1% stake in the credit reporting firm for RM5.99mil.,
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Catcha Digital Bhd has been granted another six months — up to April 5, 2023 — by Bursa Securities to complete its proposed regularisation plan.
Paramount is disposing of its remaining stake in education units for RM120mil cash.
Omesti Bhd has secured a one-year contract from Telekom Malaysia Bhd (TM) relating to mobile services valued at RM20mil.
Meanwhile, the US market declined overnight for its fifth consecutive day of losses following concerns of a recession.
The Dow Jones Industrial Average fell 1.11% to end at 29,260.81 points, while the S&P 500 lost 1.03% to 3,655.04. The Nasdaq Composite dropped 0.6% to 10,802.92.
Similarly, European stocks ended lower as the British pound dropped to a record low against the US dollar.
“Following the recent bearish momentum, the FBM KLCI could extend its losses towards the support of 1,400 points,” Apex said.