Trading ideas: BHIC, Gadang, Nexgram, Texchem

KUALA LUMPUR: Boustead Heavy Industries (BHIC), Gadang, Nexgram and Texchem could see trading interest on Friday after their corporate news, says JF Apex Research.

BHIC secured a RM62.58mil government contract to provide maintenance and logistics support services for three Dauphin AS365N3 helicopters belonging to the Malaysian Maritime Enforcement Agency.

Gadang was awarded for the development rights for a 24.08-acre plot, known as R3-1 at the upcoming Kwasa Damansara township in Sungai Buloh by Kwasa Land Sdn Bhd.

JF Apex Research said Nexgram has teamed up to build PR1MA homes in Gombak and it also accepted a letter of intent to be the main subcontractor for the proposed construction of 462 apartments in Bukit Katil, Melaka under the 1Malaysia Civil Servants Housing (PPA1M) scheme.

Texchem Resources is selling its 30% interest in Fumakilla Asia Sdn Bhd and 26.36% interest in PT Fumakilla Nomos to Japan's Fumakilla Ltd for a total of RM80.5mil.
On Wall Street, US stocks fell on Thursday but closed well off session lows, as investors digested weak export data of China and a possible Federal Reserve rate hike. 

European stocks closed firmly in the red after weak China data triggered a slide in mining stocks while investors digested the latest minutes release from the Federal Reserve. 

At Bursa Malaysia, the FBM KLCI lost 2.01 points or 0.12% to 1,665.02. 

JF Apex Research pointed out that following the lacklustre performance in the US and Europe, the FBM KLCI could continue its sideways trend between 1,650 and 1,675 in the absence of fresh leads, rate hike in the US and weaker Ringgit. 

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