KUALA LUMPUR: Stocks to watch on Monday include My EG Services Bhd, AirAsia Group Bhd, CTOS Digital Bhd, SLP Resources Bhd and Tiong Nam Logistics Holdings Bhd, according to JF Apex Research.

       In its report, JF Apex said MyEG would be introducing decentralised finance (DeFi) products in Malaysia to provide cryptocurrency services to users of digital asset exchanges which are licensed as recognised market operators locally and abroad.

       AirAsia’s e-wallet unit BigPay has secured up to US$100mil in financing from South Korean conglomerate SK Group to further its mission to become the leading challenger bank in Southeast Asia.

       CTOS Digital has increased its stake in Thailand’s Business Online Public Company Ltd to 22.65% from 20% previously as part of its efforts to expand its foothold in the country’s business decision-making solutions market.

       Tiong Nam Logistics’ subsidiary Tiong Nam Logistics Solutions Sdn Bhd is buying two plots of vacant land measuring 20 hectares and five hectares respectively in Johor Bahru from Senai Airport City Sdn Bhd for a collective RM136.38mil to construct a warehouse.

       SLP Resources’ 2QFY21 net profit fell 22.4% quarter-on-quarter dragged by lower production due to the 60% workforce restriction imposed in the quarter under review.

       Inari’s 4QFY21 net profit increased 7.3% quarter-on-quarter on the back of higher sales.

       JF Apex said following the recent lacklustre performance, the FBM KLCI could remain sideways above the support of 1,475 points.

       The research house said after the selldown in March 2020, the FBM KLCI hit

       the lowest since May 2010 but staged a sharp rebound to almost 1,700 points in December.

       “Since January, the index has been trending sideways but the decline in June broke the support of 1,550 points.

       “After the recent selldown, the benchmark index could consolidate above its support of 1,475 points,” JF Apex said.