Trading ideas: Zecon, CAB Cakaran, Pentamaster, Prolexus, PIC

KUALA LUMPUR: JF Apex Research expects Zecon Bhd, CAB Cakaran Corp Bhd,  Pentamaster Corp Bhd, Prolexus Bhd and Progressive Impact Corp Bhd to be among the stovks to watch on Wednesday.

Zecon was picked by Unit Perumahan Penjawat Awam 1Malaysia (PPA1M) to undertake a RM760.78mil housing project in Kuching.

It said poultry company CAB Cakaran is considering to acquire some of Farm's Best Bhd's assets for an indicative amount of some RM242mil.

As for  Pentamaster, the group has secured RM45mil in orders from its semiconductor test equipment and smart-home automation system business which are to be delivered in the first half of 2016.
 
JF Apex Research said Prolexus has partnered with Taiwan's Men-Chuen Fibre Industry Co., Ltd, to expand into upstream garment production and set up a garment manufacturing plant in Vietnam; 

Progressive Impact Corp Bhd, the group has secured a sewerage treatment plant project worth RM43.6 million in Johor.

Overnight on Wall Street, US equities closed near the flat line after a choppy trading session, as US oil prices seesawed and investors looked ahead to Fed Chair Janet Yellen's testimony.

European stocks slid to close sharply lower as investors remained pessimistic on global economic growth prospects.

At Bursa Malaysia last Friday, the FBM KLCI gained 5.69 points to 1,662.46. Following the bearish sentiment in global markets, the KLCI is expected to be negative with support at 1,620.