Trading ideas: Eco World, MBSB, AWC

Foreign funds have continued to be net buyers on Bursa Malaysia on Monday at RM167.64mil.

KUALA LUMPUR: JF Apex Research expects Eco World, MBSB and AWC to be among the stocks which could see some trading interest on Friday after their corporate news.

It said Eco World teamed up with Cascara Sdn Bhd to jointly undertake an eco-themed mixed development, with an estimated gross development value of RM8.58bil over a 15-year period in Klang.

As for MBSB, the group has fixed the issue price for its rights issue at RM1 each, and the entitlement basis of one rights share for every one existing MBSB share held.

AWC secured a maintenance contract for the Integrated Transport Terminal in Bandar Tasik Selatan (TBS-BTS), which comes with a fee of RM130mil over a five-year period.

JF Apex Research said US markets snapped their three-day winning streak following decline in oil prices. 

European stocks also ended lower as commodity stocks declined and investors' concern on global economic slowdown.

At Bursa Malaysia, the FBM KLCI lost 7.34 points to close at 1,650.51. 

“Following the bearish performance in the US and Europe, the FBM KLCI could extend its selldown after failing to beat the resistance of 1,660,” said the research house.

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