Trading ideas: UEM Edgenta, Knusford, Kim Teck Cheong, Crest Builder

  • Corporate News
  • Tuesday, 14 Jun 2016

KUALA LUMPUR: JF Apex Research expects UEM Edgenta, Knusford, Kim Teck Cheong, Crest Builder to be among the stocks which could see trading interest on Tuesday after their corporate announcements.

UEM Edgenta’s 61.2%-owned subsidiary, Opus International Consultants Ltd warned that the softer Canadian market, with the fall in oil and gas prices, has had a negative impact on its results.

Knusford has secured a RM43mil contract for buildings in Pengerang, Johor, from a subsidiary of Petroliam Nasional Bhd.

Kim Teck Cheong was appointed to distribute Marigold products in Sabah and Sarawak.

Crest Builder won a RM438.3mil contract to build residential and commercial buildings at Sime Darby Property’s KL East development in Setapak.

On the external front, US markets tumbled on concerns of Brexit and Federal Reserve meeting later on Tuesday. European bourses lost over 1% on fears of Brexit as the UK goes to vote on June 23.

At Bursa Malaysia, the FBM KLCI dropped 11.45 points to end Monday at 1,629.77. 

“Following the bearish performance in the US and Europe, the FBM KLCI could decline further with support at 1,610,” it said.

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