KUALA LUMPUR (March 19) : Malaysian stocks could take the cue from more external news flow on Tuesday as investors weigh the prospects of a recovering US economy against less optimistic updates in China.
The spotlight this week will be directed at the US housing market data, deemed a crucial indicator of the health of the world’s largest economy. Investors are also taking note of China-based banks which are due to report their quarterly earnings.
On Monday, the FBM KLCI rose 0.14% or 2.2 points to finish at 1,573.6.
Stocks to watch on Tuesday include Mega First Corp Bhd and its 60.43% subsidiary ROCK CHEMICAL INDUSTRIES (M) [] Bhd, besides KOBAY TECHNOLOGY [] BHD [] and its 53.16% subsidiary Lipo Corp Bhd.
Heavily-traded METRONIC GLOBAL BHD [] and its 17%-owned unit Ariantec Global Bhd are also worth noting. Other stocks to watch include PUBLIC BANK BHD [], and ENG TEKNOLOGI HOLDINGS BHD [].
Mega First, a power plant builder and property developer , has served a takeover notice on Rock Chemical, a building materials entity, to acquire the remaining shares it does not own at RM2.10 each.
Mega First shares rose two sen to close at RM1.72 on Monday while Rock Chemical was up 31 sen to RM2.06 after both stocks resumed trading at 2.30pm.
Trading of shares in industrial component manufacturers Kobay and Lipo has been suspended since 3.05 pm on Monday, pending an announcement. Kobay was last traded on Friday at 79 sen while Lipo was last transacted at RM1.04 on Monday.
Metronic said it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.
Metronic,which specialises in system integration of intelligent building management and integrated security management systems, saw its shares rose 0.5 sen to 13 sen with about 177 million shares changing hands on Monday.
Ariantec, which offers information technology services, rose four sen to 13.5 sen with some 235 million shares done.
Public Bank is expected to maintain its 50% dividend payout ratio, chief operating officer Leong Kok Nyem said at the group’s AGM. Public Bank shares rose four sen to close at RM13.64.
The founders and major shareholders of Eng Teknologi who are in the midst of privatising the hard disk drive maker said the takeover offer price has been revised downwards from RM2.50 to RM2. Eng Teknologi shares closed unchanged at RM1.77.
The spotlight this week will be directed at the US housing market data, deemed a crucial indicator of the health of the world’s largest economy. Investors are also taking note of China-based banks which are due to report their quarterly earnings.
On Monday, the FBM KLCI rose 0.14% or 2.2 points to finish at 1,573.6.
Stocks to watch on Tuesday include Mega First Corp Bhd and its 60.43% subsidiary ROCK CHEMICAL INDUSTRIES (M) [] Bhd, besides KOBAY TECHNOLOGY [] BHD [] and its 53.16% subsidiary Lipo Corp Bhd.
Heavily-traded METRONIC GLOBAL BHD [] and its 17%-owned unit Ariantec Global Bhd are also worth noting. Other stocks to watch include PUBLIC BANK BHD [], and ENG TEKNOLOGI HOLDINGS BHD [].
Mega First, a power plant builder and property developer , has served a takeover notice on Rock Chemical, a building materials entity, to acquire the remaining shares it does not own at RM2.10 each.
Mega First shares rose two sen to close at RM1.72 on Monday while Rock Chemical was up 31 sen to RM2.06 after both stocks resumed trading at 2.30pm.
Trading of shares in industrial component manufacturers Kobay and Lipo has been suspended since 3.05 pm on Monday, pending an announcement. Kobay was last traded on Friday at 79 sen while Lipo was last transacted at RM1.04 on Monday.
Metronic said it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.
Metronic,which specialises in system integration of intelligent building management and integrated security management systems, saw its shares rose 0.5 sen to 13 sen with about 177 million shares changing hands on Monday.
Ariantec, which offers information technology services, rose four sen to 13.5 sen with some 235 million shares done.
Public Bank is expected to maintain its 50% dividend payout ratio, chief operating officer Leong Kok Nyem said at the group’s AGM. Public Bank shares rose four sen to close at RM13.64.
The founders and major shareholders of Eng Teknologi who are in the midst of privatising the hard disk drive maker said the takeover offer price has been revised downwards from RM2.50 to RM2. Eng Teknologi shares closed unchanged at RM1.77.
