Trading ideas: Econpile, Sunway Construction, KKB engineering, LFE

KUALA LUMPUR: Econpile Holdings Bhd, Sunway Construction Bhd, KKB Engineering Bhd and LFE Corp Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Econpile has secured an RM44.7mil contract from MMC Gamuda KVMRT (UGW) joint venture to design and build the reinforced concrete box tunnel works for the Hospital Kuala Lumpur Station under the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (SSP) Line (MRT 2).

Sunway Construction said its units bagged two piling works contracts worth a combined value of RM86.43mil.

The first contract was related to the Light Rail Transit 3 (LRT3) for a contract sum of RM47.65mil while the second contract was a piling job related to a proposed transit-oriented development at Plot 7MD7 at Precint 7, Putrajaya, for RM38.79mil.

KKB Engineering said the group and its associate have both secured contracts from Petronas Dagangan Bhd.

The group also received a purchase order from Laras Jaya Engineering Sdn Bhd (LJE).

The combined value of the contracts and purchase order is RM30.8mil.

LFE has bagged a RM16.24mil contract to build a mixed residential development project in Mukim Serada, Kuala Terengganu, Terengganu.

Meanwhile, US markets ended lower led by banking counters after the outcome from the Federal Reserve’s monetary policy meeting.

Earlier, European stocks declined as the UK requested a delay in Brexit.

“Following the negative performance in the US and Europe, the FBM KLCI could remain lackluster and hover sideways below the resistance of 1,710 points,” JF Apex said.

Source: TheStar