Trading ideas: Gamuda, MMC, Excel Force, Daya Materials

KUALA LUMPUR: JF Apex Research expects Gamuda, MMC, Excel Force MSC and Daya Materials to be among the stocks to watch on Friday after their latest corporate news.

The Gamuda and MMC joint venture company has decided to end a nine-year legal battle with engineering firm Wayss & Freytag (M) Sdn Bhd, by paying RM109.14mil as full settlement over a sub-contract involving the SMART tunnel. 

As for Excel Force MSC, it is working with global electronic trading solutions company, Ullink, to expand its clients’ trading connections. The partnership will allow its clients, mainly financial companies in Southeast Asia, to access to an extensive and established network of trading services via Ullink’s NYFIX global connectivity platform; 

Daya Materials inked an MoU with a Ministry of Finance Malaysia agency to look into a crowd/passenger systems solution for the transportation industry in Malaysia.

Public Bank’s full-year revenue broke the RM20bil mark for the financial period ended Dec 31, 2016 (FY16), underpinned by continued growth in the net interest income and fee and commission income.

Plastic injection moulding company Denko received a conditional voluntary takeover offer from Oregon Technology Sdn Bhd at 55 sen per share.

Shipping company PDZ said that Shin Yang and Harbour-Link have both served the company with Writs in Admiralty Action in Rem (action against the ship) to seek delivery of containers which were shipped on board PDZ Mewah by Perkapalan Dai Zhun Sdn Bhd, a former wholly owned subsidiary of PDZ. 

Overnight on Wall Street, US markets closed flat ahead of today's employment data. 
European stocks ended lower after the Bank of England kept interest rates unchanged and raised its GDP forecast. 

At Bursa Malaysia, the FBM KLCI added 1.94 points to 1673.48. 

“Following the mixed performance in the US and Europe, the FBM KLCI is expected to continue hover below the resistance of 1,700,” said JF Apex Research.