Trading idea: Marine & General, CMS, Fajarbaru, Handal Resources, Serba Dinamik
KUALA LUMPUR: JF Apex Research expects Marine & General Bhd, Cahya Mata Sarawak Bhd (CMS), Fajarbaru Builder Group Bhd, Handal Resources Bhd and Serba Dinamik Holdings Bhd are among the stocks to watch on Tuesday.
The research house also expects Scomi Group, Econpile and Sedania Innovator to see trading interest today.
Marine & General has bagged three work awards from Petronas Carigali Sdn Bhd worth a total of RM20.9mil, for the provision of anchor handling tug & supply vessel.
Cahya Mata Sarawak has secured a six-month contract extension for the long-term management and maintenance of state roads in Sarawak, worth RM94mil.
Fajarbaru has secured a RM297.5mil contract from Malton Bhd to develop two tower blocks for a high-rise residential development here, which is Phase 1 of the Duta Park Residences.
Handal Resources’ joint venture (JV) has bagged a seven-year contract worth RM360mil from Petronas Carigali Sdn Bhd.
Serba Dinamik is exploring opportunities in the oil and gas (O&G), energy, engineering and civil works, as well as construction and development projects with the Melaka government in the state.
Scomi Group said Scomi Transit Projects Sdn Bhd (STP) and Prasarana Malaysia Bhd (PMB) have signed an agreement involving the design, manufacture, completion and delivery of seven four-car vehicles for the KL Monorail for RM122mil.
Econpile has been awarded RM67.77mil in the adjudication proceedings it initiated to recover progress claims for work done from ASM Development (KL) Sdn Bhd, under a RM280mil contract for a mixed project here.
Sedania Innovator has inked an exclusive agreement with Belgian firm, NV Turbulent, to build and deploy micro-hydro installations in Malaysian rivers to generate electricity, marking its official venture into the renewable energy market.
Meanwhile, US markets ended mixed overnight as investors eagerly await for the outcome of a key meeting between President Trump and China’s President Xi at the G-20 summit this week.
Earlier, European stocks declined due to geopolitical tensions between the US and Iran.
“Following the mixed performance in the US and Europe, the FBM KLCI could remain pressured and decline below its resistance of 1,690 points,” JF Apex said.
Source: TheStar