Trading ides: Leong Hup, Uzma, Kim Teck Cheong, Bina Darulaman, Kanger

TheStar Tue, Mar 10, 2020 08:50am - 1 year ago

KUALA LUMPUR: Leong Hup International Bhd, UZMA BHD, Kim Teck Cheong Consolidated Bhd (KTC), BINA DARULAMAN BHD and Kanger International Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Leong Hup International is acquiring a feed mill in Vietnam for a total consideration of RM67.03mil, to diversify into aquatic feed.

Uzma has been awarded a contract by Mubadala Petroleum’s MP B5 (Thailand) Ltd, for the provision of coil tubing services, with a total sum value of about RM23mil.

Kim Teck Cheong has been appointed by Petronas Dagangan Bhd as its master distributor to widen the distribution and sale for twelve selected product categories.

Bina Darulaman has been awarded the state's road maintenance contract by the Kedah state government, valued at about RM210mil.

Kanger International has signed a 10-year lease agreement for two of its commercial buildings located in Ganzhou City, China.

The initial rental income per year for both commercial buildings amount to approximately RM11.1mil, and is subject to scheduled rent increases.

Magni-Tech Industries posted an 8.31% drop in net profit for its 3QFY2020 due to higher operating costs incurred, relative to revenue and negative forex impact.

AppAsia will be diversifying into the money lending business via providing flexible financing schemes that focus on segments which are underserved by licensed financial institutions.

Overnight, US markets plunged over 7% following news of an oil price war and the coronavirus continues to spread.

The Dow cratered 2,013 points for its single largest one-day point decline in history, the yield on the 10-year Treasury fell to a record low and oil prices sank 24%.

Earlier in the day, European stocks tanked as oil prices crashed after OPEC and its allies failed to agree on a production cut.

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