Trading ideas: Muhibbah Engineering, Unisem, Tenaga, KAF

  • Business
  • Friday, 31 Jul 2015

KUALA LUMPUR: JF Apex Research expects Muhibbah Engineering, Unisem, Tenaga Nasional, Pestech, Seacera and KAF-Seagrott & Campbell to be among the stocks to watch on Friday.

Muhibbah bagged a RM158.2mil contract from Toyo Thai Malaysia Sdn Bhd for civil, concrete and buildings works for offsite areas of the steam cracker complex for the refinery and petrochemicals integrated development (RAPID) project in Pengerang, Johor.

JF Apex Research said Unisem’s 2QFY15 net profit surged 189% on-year to RM31.38mil due to a change in product mix and higher utilisation rates.

Tenaga Nasional’s 3QFY15 net profit more than halved to RM789.4mil from a year ago due to the recognition of the imbalance cost pass through (ICPT) tariff rebates during the quarter.

Pestech is teaming up with China's Shandong Electrical Engineering & Equipment Group (SDEE) to explore the power infrastructure market in Cambodia.

Seacera said that MAHB has terminated the RM152mil contract with its 60%-owned SPAZ Sdn Bhd in relation to the proposed Malaysia Airports Academy at the KL International Airport in Sepang.

JF Apex Research said KAF-Seagrott & Campbell could see trading action after KAF Investment Bank Bhd made a mandatory general offer (MGO) to the group at RM2.70 per share.

Overnight on Wall Street, US markets were mixed after second quarter GDP came slightly below expectations. European stocks closed higher following encouraging corporate earnings announcements.

At Bursa Malaysia, the FBM KLCI closed just 0.93 point higher at 1,699.92.

“We expect sideways movement between support and resistance of 1,685 and 1,740 respectively,” it said.

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