KUALA LUMPUR: Yong Tai, I-Bhd, Malaysia Airports (MAHB), UMW and ARB are among the stocks to watch on Tuesday following their corporate announcements, JF Apex Research says. Yong Tai has denied rumours in the social media that its Covid-19 vaccine application has been rejected by the Ministry of Health’s (MoH) National Pharmaceutical Regulatory Agency. I-Bhd’s i-City Golden Triangle (i-City GT) in Shah Alam, Selangor is adopting cutting-edge technologies and 400G-capable network connectivity to leverage on this competitive advantage to widen its sphere of influence among leading players in the industry. Meanwhile, MAHB sees a gradual recovery in domestic air travel over the next few months once daily Covid-19 cases are reduced, interstate travel restrictions are lifted and confidence of air travellers builds up with the increasing number of populations vaccinated. UMW is encouraged over its sales performance in 2021 with both UMW Toyota Motor and Perodua registering healthy January sales numbers on the back of the extension of the sales tax exemption initiative. UMW Toyota Motor recorded sales of 3,845 units in January, which was 4.1% higher than 3,695 units in the same month last year while Perodua sold 16,984 units, slightly lower than 17,481 recorded in January 2020. Menang Corp has suspended two non-independent and non-executive directors from exercising their duties and functions as directors of the company with immediate effect. ARB’s net profit for its 4QFY20 grew 54.4% to RM19.74 million from RM12.79 million a year ago, on the back of a surge in revenue. UEM Sunrise and Mulpha International have called off their joint venture (JV) for a RM5bil gross development value mixed development in Nusajaya, Johor.
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