Trading ideas: KNM, PChem, Econpile and Digi

October 21, 2019 editor Analyst Reports

KUALA LUMPUR: Stocks that may be seeing trading interest on Monday include KNM, Petronas Chemicals, Econpile and Digi, according to JF Apex research.

The research house highlighted that KNM’s indirect unit FBM-KNM FZCO accepted a USUS$12.31mil (RM51.48mil) purchase order from Petrofac Emirates LLC to supply pressure vessels and columns for the development project in the southeast of Algiers, Algeria.

Meanwhile. Petronas Chemicals’ 50%-owned associate Pengerang Petrochemical Co Sdn Bhd (PPC) has executed the second and final phase of RM1bil project financing to repay PPC’s bridging loan.

Econpile inked an RM43.98mil contract to undertake demolition, earthworks, piling and substructure works for the Tropicana Gardens mixed development in Kota Damansara.

Digi’s 3QFY19 net profit fell to RM356.1mil from RM392.54mil a year prior, on the back of lower revenue.

JF Apex is expecting the FBM KLCI to remain lacklustre and hover in a sideways direction below the resistance of 1,500 points.

This comes on the back of a tumble in US markets on Friday amid declines in Boeing and Johnson & Johnsons. European markets were also lower ahead of a Brexit deadline on Saturday.

In Friday’s session, the FBM KLCI was 3.35 points lower at 1,571.15 points.

Source: TheStar