Trading ideas: Econpile, Yong Tai, Seacera, Comintel, Amtek

KUALA LUMPUR: Econpile Holdings Bhd, Yong Tai Bhd, Seacera Group Bhd, Comintel Corp Bhd (Comcorp) and Amtek Holdings Bhd are among the stocks to watch on Monday, according to JF Apex Research.

Econpile has bagged an 18-month contract worth RM68.8mil involving piling, pilecap and basement works for the Terra Putrajaya Project in Precinct 3, Putrajaya.

Yong Tai has proposed to raise up to RM17.1mil via a private placement to third-party investors to be identified later, which will be used to partly finance some of its projects.

Seacera is disposing of a 60% stake in its 80%-owned construction outfit Spaz Sdn Bhd for RM12mil cash.

Comintel Corp said that it will pay U Television Sdn Bhd (UTV) a counterclaim sum of RM20.83mil after the Federal Court has dismissed its application to review the court’s earlier order.

Practice Note 17 (PN17) company Amtek may be delisted from Bursa Malaysia by the end of the month, after the regulator rejected the group’s application for more time to submit its regularisation plan.

Last Friday, US markets declined after jobs data missed expectations. The Dow Jones Industrial Average pulled back 22.99 points to 25,450.24 while the S&P 500

fell 0.2% to 2,743.07.

European stocks tumbled following lower export data in China and the European Central Bank announced stimulus.

“Following the bearish performance in the US and Europe, the FBM KLCI could trend lower towards its support of 1,650 points,” JF Apex said.

Source : TheStar