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Malaysia stocks to watch

Malaysia stocks

MyEG said that it has received a three-year extension from the Government to provide the foreign worker temporary employment pass online renewal service

JF Apex Research expects MY E.G. SERVICES BHD (MyEG), WZ Satu Bhd, PRESTAR RESOURCES BHD, GAMUDA BHD, Solarvest Holdings Bhd, GFM Services Bhd and BOUSTEAD HEAVY INDUSTRIES CORPoration Bhd (BHIC) to be among the stocks to watch on Thursday.

MyEG said that it has received a three-year extension from the Government to provide the foreign worker temporary employment pass online renewal service worth an estimated RM208mil ($48.53mil).

A consortium led by WZ Satu has bagged a contract worth RM120mil ($28.00mil) for the provision of engineering, procurement, construction, installation and commissioning (EPCIC) from Petronas Carigali Sdn Bhd.

Kanger International is collaborating with Stoika Sdn Bhd to distribute long-lasting commercial antimicrobial coating solutions in Malaysia and overseas.

Prestar Resources has bagged contracts worth about RM80mil ($18.67mil) to supply guardrails and accessories for the development and upgrading of the proposed Pan Borneo Highway in Sarawak.

Gamuda’s subsidiary has signed a master agreement with the Penang Government to be the project delivery partner (PDP) for the multi-billion Penang transport master plan (PTMP).

Solarvest and GFM has secured a RM30mil ($7.00mil) contract for the engineering, procurement, construction and commissioning of solar photovoltaic (PV) infrastructure in six UiTM campuses in Peninsular Malaysia.

Boustead Heavy Industries has seen its helicopter maintenance contract with the Ministry of Defence extended for another year until 2021.

Meanwhile, US markets ended mixed with the Dow falling while the Nasdaq climbed to a record high amid positive payroll and manufacturing data as well as concerns of rising coronavirus cases.

Earlier, European stocks declined amid fears of a second wave of coronavirus.

Following the mixed performances in the US and Europe, the FBM KLCI could hover below the resistance of 1,550 points, JF Apex said.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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