Trading ideas: Gamuda, BHIC, Eco World Development, Mah Sing

KUALA LUMPUR: Gamuda Bhd, Boustead Heavy Industries Corp Bhd (BHIC), Eco World Development Group Bhd, Eco World International Bhd (EWI) and Mah Sing Group Bhd are among the stocks to watch on Friday, according to JF Apex Research.

Gamuda has secured a contract worth NT$3.95 billion (RM521.75mil) from Taiwan’s state-owned energy company, CPC Corp, to construct a marine bridge and related works in Taiwan.

BHIC has secured a RM150mil contract to service the navy’s submarines.

Eco World Development’s quarterly profit soared three times to RM30mil while Eco World International overturned its losses in its first quarter results.

Mah Sing bought a 4.63 acre freehold land in Mukim Petaling for RM90.3mil

Berjaya Corp narrowed its quarterly loss to RM63mil and Kenanga Investment Bank proposed to buy ECM Libra’s fund management unit for RM50mil.

Overnight, US stocks rose as trade talks between China and the U.S restarted.

European stocks were muted as investor monitored news of progress in U.S.-China trade negotiations.

“We expect the benchmark index to remain under pressure with its support at 1,625 points under prevailing cautious market sentiment,” JF Apex said.

Source : TheStar