Trading ideas: UEM Edgenta, SMTrack, Petronas Gas, Guan Chong

KUALA LUMPUR: JF Apex Research expects UEM Edgenta, SMTrack, Petronas Gas and Guan Chong to be among the stocks which could attract trading action on Monday.

Other companies which could see investor interest include  Tek Seng, HSS Engineers and Gabungan AQRS, it said.

JF Apex Research added UEM Edgenta secured a RM87mil deal to relocate some telecommunications infrastructure due to  the MRT2 project.

SMTrack has proposed to acquire US-based Wellspring Worldwide Ltd for an undisclosed amount. Wellspring Worldwide is the global master licensor of Tutti Fruitti Frozen Yogurt, O'My Buns! and YoFlavor.

Petronas Gas plans to set up a joint venture with Linde (M) Sdn Bhd to develop an air separation unit (ASU) plant in Pengerang, Johor, the research house said.

Tek Seng's 2QFY16 net profit jumped more than four-fold on-year to RM16.23mil thanks to higher contribution from its solar segment business.

Guan Chong's 2QFY16 net profit surged five times on-year to RM10.66mil due to higher net gain on foreign exchange.

HSS Engineers, the group could be terminated from existing contracts with Malaysian Resources Corp Bhd (MRCB) due to a defamation suit against one of the former's associate companies.

Gabungan AQRS is believed to be close to getting a RM500mil subcontract for the CA3 portion of the Sungai Besi-Ulu Kelang Expressway (SUKE).

Last Friday, US markets ended lower and came off record highs after disappointing retail sales data. European stocks were pressured led by mining counters despite higher oil price.

At Bursa Malaysia, the FBM KLCI gained 5.35 points to close at 1,684.15. 

“Following the negative equity performance in the US and Europe, the FBM KLCI could take a breather after last week's surge which saw it test the resistance of 1,685,” it said.

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