Trading ideas: Gamuda, Kerjaya Prospek, Puncak Niaga

KUALA LUMPUR: JF Apex Research expects GAMUDA BHD, KERJAYA PROSPEK GROUP BHD and PUNCAK NIAGA HOLDINGS BHD to be among the stocks to watch on Friday.

Gamuda’s 70:30 joint venture (JV) with Dong-Pi Construction Co Ltd has bagged an RM932.5mil contract for a seawall and dike project in Taiwan.

Gamuda said the five-year contract was awarded by Port of Keelung, Taiwan International Ports Corp Ltd, a Taiwan state-owned ports operation company.

Kerjaya Prospek is buying two plots of adjoining land, measuring 4.31 hectares (ha) in Rawang, from executive chairman and major shareholder Datuk Tee Eng Ho and his brother, executive director Tee Eng Seng, for RM10.01mil.

Puncak Niaga is filing a judicial review application against the Royal Malaysian Customs Department’s demand for goods and services tax payments, amounting to RM5.27mil.

Overnight, US markets surged to extend the year-end rally following gains in technology counters.

The Dow Jones Industrial Average advanced 330.36 points, or 0.9% to 28,868.80. The S&P 500 closed 0.8% higher at 3,257.85 while the Nasdaq Composite gained 1.3% to end at 9,092.19.

European stocks advanced following trade optimism after US President Trump said the phase one trade deal with China will be signed on January 15.

“Following the bullish performances in the US and Europe, the FBM KLCI could extend its gains towards the resistance of 1,615 points, ” JF Apex said.

Source: TheStar