Trading ideas Gadang TRC SunCon WCT Sime

KUALA LUMPUR: JF Apex Research expects Gadang, TRC Synergy, Sunway Construction, WCT and Sime Darby to be among the stocks to watch on Monday following the latest corporate news. 

Gadang has bagged the contract package worth RM952.09mil to build a viaduct guideway and other associated works from Serdang Raya to Universiti Putra Malaysia.

As for TRC, it has given the contract to build a viaduct guideway and other associated works from Kampung Muhibbah to Serdang Raya worth RM858.18mil.

JF Apex Research also said Sunway Construction was awarded a RM212.3mil job to build elevated stations and other associated works at Damansara Damai, Sri Damansara West and Sri Damansara East.

WCT has been slapped with an arbitrary suit over RM130.56mil from a former subcontractor for its joint venture development in Dubai.

Sime Darby announced that it has aborted its reverse take-over plan via the disposal its industrial properties in Australia to Singapore-listed Saizen Real Estate Investment Trust (Saizen REIT), as it was not able to meet the March 31 deadline.

US equities closed higher following a strong job data amid an expectation of rate hike by Federal Reserve this week. 

Similarly, European markets closed slightly higher after the positive US non-farm payrolls data for February. 
 
Last Friday, the FBM KLCI ended flat last Friday, rising 0.16 point to 1,717.58. 

“We expect the local benchmark index to trend sideways between 1,700 and 1,730 as affected by sluggish crude oil prices and potential US rate hike,” it said.