KUALA LUMPUR: Stocks to watch for on Tuesday include Press Metal , Ancom , Nylex, LBS Bina, Gabungan AQRS, TDM, Sumatec Resources , Greenyield and Jankun International, said JF Apex Research.

       Press Metal plans to raise up to RM1bil, through the placement of up to 163.4 million new shares or 2% of its issued shares to third party investors, to be used as working capital, capital expenditure and to repay its borrowings.

       Ancom has teamed up with its subsidiary Nylex, property developer LBS Bina and two other parties to propose a light rail transport (LRT) system connected with the railway shuttle link currently being built from Singapore to Johor Bahru.

       Gabungan AQRS has secured a sub-contract worth RM31.85mil to carry out sewer pipe relining works under sub-package 2 for open excavation and pipe jacking works in Klang and Kuala Langat, Selangor.

       TDM has accepted an offer from Ikhasas CPO Sdn Bhd to acquire two loss-making Indonesian subsidiaries for RM115mil.

       Practice Note 17 (PN17) company Sumatec Resources will be delisted from Bursa Malaysia’s Main Market on Thursday (March 24).

       The Tham family, founder and major shareholder of Greenyield, plans to inject their private plantation assets in Papua New Guinea into the agricultural and horticultural product and service provider for RM87.81mil.

       Jiankun International said the joint venture agreement it had inked with Menara Rezeki Sdn Bhd, related to the redevelopment of Flat PKNS Jalan Tun Razak in Kampung Baru, has been terminated.

       Meanwhile, JF Apex expects the FBM KLCI to take a breather and consolidate below the resistance of 1,620 points following the previous week's rebound.

       The US maarket declined overnight after the Federal Reserve chariman said bigger interest rates could be needed to combat inflation.

       In Europe, stocks ended mixed as the Russia-Ukraine war coninued to weigh on sentiment.