Trading ideas: QL Resources, NTPM, KKB Engineering, SunCon

  • Business
  • Monday, 14 Sep 2015

KUALA LUMPUR: JF Apex Research expects QL Resources, NTPM Holdings, KKB Engineering and Sunway Construction (SunCon) to see trading interest on Monday.

QL Resources exited poultry-based Lay Hong when it sold all its 38.63% stake for RM60.59mil, citing the lack of board representation and the inability to influence the latter’s corporate direction.

NTPM’s net profit soared 85% on-year to RM12.92mil thanks to higher sales, better margins and lower selling, distribution and operating costs.

KKB Engineering's associate Ocean Might Sdn Bhd secured RM171.1mil in contracts from Talisman Malaysia Ltd, Syarikat SESCO Bhd and Sarawak Energy Bhd for the engineering, procurement and construction of a wellhead platform for Kinabalu redevelopment project.

Sunway Construction accepted a RM1.61bil contracts for works relating to the construction of 10 government office buildings in Putrajaya.

Last Friday, US market closed slightly higher after reversing intra-day losses. Meanwhile, European stocks fell on concerns of a rate hike during US Federal Reserve's two-day meeting which starts on Wednesday.
At Bursa Malaysia, the FBM KLCI lost 10.42 points to end at 1,603.60.

“We expect the index will remain pressured after China's investment and factory output missed estimates in August. Support level is seen at 1,555,” it said.

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