Trading ideas: KSL, Bermaz Auto, Mah Sing, Aneka Jaringan, Chin Teck Plantations, Widad, Uzma, Magni-Tech, Reservoir Link Energy and Boustead Heavy Industries

KUALA LUMPUR: Stocks that could be in the spotlight on Tuesday include KSL, Bermaz Auto, Mah Sing, Aneka Jaringan, Chin Teck Plantations, Widad, Uzma, Magni-Tech, Reservoir Link Energy and Boustead Heavy Industries, said Apex Research.

KSL Holdings Bhd as it is acquiring 53.89 acres of freehold land in Pontian, Johor from Tropicana Corp Bhd for RM102.94 million.

Bermaz Auto Bhd posted a 388.5% YoY jump in net profit to RM50.16 million in the 1QFY23.

Mah Sing Group Bhd is selling 13,695 square metres of freehold land in Georgetown, Penang to Morningjoy Sdn Bhd for RM66.33 million cash.

Aneka Jaringan Holdings Bhd has secured a RM46 million contract that entails piling and substructure works for a mixed-development project in Setapak.

Chin Teck Plantations Bhd is buying Kelantan-based planter Fauzi-Lim Plantation Sdn Bhd for RM45 million cash.

Widad Group Bhd has secured a construction contract worth RM40 million from Langkasuka Land Sdn Bhd, Magni-Tech Industries Bhd‘s net profit for the 1QFY23 rose 14.16% YoY to RM24.03 million.

Uzma Bhd‘s unit has bagged a RM17 million contract from Petronas Carigali Sdn Bhd for the provision of lightweight hydraulic workover units.

Reservoir Link Energy Bhd has won a RM16.7 million contract to undertake a turnkey construction and commission of a 25MWac large-scale solar photovoltaic plant in Manjung, Perak.

Boustead Heavy Industries Corp Bhd (BHIC) has secured a RM15.72 million worth of contract from the Ministry of Defence.

Meanwhile, Apex said the FBM KLCI could extend it rebound towards the psychological level of 1,500 points following gains on Wall Street.

The US market surged overnight as investors expect a lower August CPI data later today.

Similarly, European stocks ended higher, led by retail stocks, ahead of the US inflation data.