Trading ideas: Prestariang, CBIP, KKB, LPI

KUALA LUMPUR: JF Apex Research expects Prestariang Bhd, CB Industrial Product Holding Bhd (CBIP), KKB Engineering Bhd and LPI Capital Bhd to be among the stocks to watch on Tuesday.

Prestariang Bhd has filed a legal claim of RM732.86mil against the government over the termination of the National Immigration Control System (SKIN) project.

CBIP said its unit has been awarded a contract worth RM71.17mil to build palm oil mills in Papua New Guinea’s Markham Valley.

KKB won two contracts worth RM18mil to supply steel products.

LPI’s net profit for its first quarter ended March 31, 2019 (1QFY19) rose 6.4% to RM77.16mil from RM72.5mil a year ago.

Meanwhile, US markets declined overnight after lackluster corporate earnings announcements.

Earlier, European stocks climbed amid quarterly results and developments in US-China trade talks.

“Following the mixed performance in the US and Europe, the FBM KLCI could hover sideways above the support of 1,623 points,” JF Apex said.

Source : TheStar