Trading ideas: GDB, Econpile, T7 Global, HeiTech Padu, AISB

KUALA LUMPUR: JF Apex Research expects GDB Holdings Bhd, Econpile Holdings Bhd, T7 GLOBAL BHD, Heitech Padu Bhd and Amalgamated Industrial Steel Bhd (AISB) to be among the stocks to watch on Friday.

GDB’s 70%-owned subsidiary GDB Geotechnics Sdn Bhd has bagged an RM20.67mil contract to be the main contractor to undertake piling and substructure works for two blocks of service apartments.

Econpile has been awarded an 11-month contract worth RM26.1mil from WCT OUG Development Sdn Bhd to undertake sub-structure and basement works for a property development project on Jalan Awan Besar here.

T7 Global’s unit Tanjung Offshore Services Sdn Bhd has secured an umbrella contract from Vestigo Petroleum Sdn Bhd for the provision of integrated well services for well intervention, workover and abandonment.

HeiTech Padu will be teaming up with Indonesian company PT Kirana Investama Nusantara (PT KIN) to set up a joint venture company in Indonesia to explore business opportunities there, which encompasses the development and deployment of a Shariah Compliance Cooperative System – Baitulmal Wat Tamwil (BMT).

Amalgamated Industrial Steel is acquiring five parcels of leasehold commercial land — measuring 14,365 sq metres in total — near the under-construction Damansara Damai MRT station in Sungai Buloh for RM31mil, to grow its property development business by tapping into strategic locations with development potential.

Meanwhile, US markets ended mixed with the S&P eking out a record high while the Dow and Nasdaq declined amid ongoing concern over trade talks.

Earlier, European stocks closed lower as US-China trade talks hit stalemate and Germany’s GDP avoided a recession.

“Following the uncertainties in US and European markets, the FBM KLCI could remain lacklustre with support at 1570 points, ” JF Apex said.

Source: TheStar