Trading ideas: Eversendai, Kejuruteraan Asastera, MAHB, Scientex

KUALA LUMPUR: JF Apex Research expects Eversendai Corp Bhd, Kejuruteraan Asastera Bhd, MALAYSIA AIRPORTS HOLDINGS BHD (MAHB), Scientex Bhd and Sime Darby Plantation Bhd to be among the stocks to watch on Thursday.

Eversendai has secured RM490.1mil worth of projects in the Middle East including a 55-storey luxurious commercial tower in Morocco and two commercial towers in Qatar, which is expected to benefit from investments made in preparation for the 2022 FIFA World Cup and Qatar National Vision 2030.

Kejuruteraan Asastera has secured a contract worth RM28.6mil from China Construction Development (Malaysia) Sdn Bhd.

MAHB saw a 23.4% decline in the number of passengers that travelled through its airports in February as the Covid-19 outbreak weighed on passenger traffic.

Scientex saw its second quarter ended Jan 31, 2020 net profit rise 32.2% year-on-year due to better performances from its manufacturing and property divisions.

Sime Darby Plantation said it may undertake corporate exercises, including request for proposals to seek consultancy and financial advice, in relation to its business operations in Indonesia.

Overnight, the Dow Jones Industrial Average tumbled 5.9% with the rapid spread of the coronavirus as well as uncertainty around a fiscal response to curb slower economic growth.

Similarly, the pan-European Stoxx 600 closed down 0.7%, as investors closely monitored the outbreak of the virus.

Earlier, the Bank of England announced an emergency cut to interest rate in an attempt to cushion the impact of coronavirus.

“Following the negative performance in Wall Street, the FBM KLCI could trend sideways with its resistance level of 1,450 points and support level of 1,400 points,” JF Apex said.

Source: TheStar