KUALA LUMPUR: Stocks to watch on Tuesday include MCE Holdings Bhd, Favelle Favco Bhd, TFP Solutions Bhd, EA Technique (M) Bhd, Malaysia, Marine and Heavy Engineering Holdings Bhd, Hextar Global Bhd, FGV Holdings Bhd and Chin Hin Group Bhd, according to JF Apex Research. MCE has secured contracts worth RM10.2mil to supply various mechanical parts for new Perodua car models. Favelle Favco said it has received orders for the supply of offshore and tower cranes amounting to RM101.4mil from six clients. TFP Solutions has inked a deal with SB Supplies & Logistics Sdn Bhd, the operator of the SugarBun restaurant franchise, to supply the latter with a suite of fintech services. E.A. Technique said it has reached a US$25.5mil settlement (RM104.74mil) with MMHE over their dispute concerning a 2015 floating storage and offloading (FSO) conversion project. Hextar Global is diversifying its business to include manufacturing and distribution of specialty cleaning chemicals products such as latex polymers, coagulants, detergents, degreasers and chlorine sanitisers via the acquisition of Chempro Group. FGV Holdings said it will not be pursuing a proposal by Perspective Lane (M) Sdn Bhd, a company controlled by tycoon Tan Sri Syed Mokhtar Albulkhari, to inject its plantation assets in exchanges for shares. Chin Hin has acquired a 31.2% stake in kitchen cabinet manufacturer Signature International Bhd for RM93.6mil cash or RM1.17 per share. Bintai Kinden has bagged a RM9.78mil contract from Tenaga Nasional Bhd to undertake the asset replacement and refurbishment for transformer, earthing transformer and reactor to PMU 275/33 KV Grik. Magni-Tech's latest quarterly net profit rose 49.9% year-on-year, on the back of higher revenue and a gain on disposal of properties. The group also declared a dividend of 3.5 sen per share, plus a special dividend of one sen per share, for a total payout of 8.3 sen for its 9MFY21. Meanwhile, US markets were mixed as the Dow rose to a record high while the S&P and Nasdaq declined following selldown in technology counters. Earlier, European stocks advanced with Germany's DAX climbing to an all-time high following progress in the US' Covid relief bill. “Following the mixed performances in Wall Street, the FBM KLCI could retest the resistance of 1,615 points,” JF Apex said.
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