Trading ideas: IJM, Ibraco, Ikhmas Jaya, I-Bhd

KUALA LUMPUR: IJM, Ibraco, Ikhmas Jaya and I-Bhd are among the stocks which could see trading interest on Tuesday, says JF Apex Research.

IJM clinched a RM450.9mil contract from UOB Properties (KL) to design and construct the UOB Tower 2 office building in KL.

Ibraco bagged a RM302.64mil contract to build the new airport in Mukah, Sarawak, from the Sarawak Public Works Department.

JF Apex Research also said Ikhmas Jaya plans to raise RM33.8mil via a private placement to be used as general working capital, including payment to suppliers and sub-contractors.

It also said ML Global is partnering Sany Construction Industry Development (M) Sdn Bhd, a subsidiary of China's Sany Group Co Ltd, to set up a precast concrete panel manufacturing plant in Nilai, Negeri Sembilan. Initial investment is RM40mil.

I-Bhd's 2QFY17 net profit rose 33% on-year, driven mainly by the higher revenue from the property development segment.

PRG Holdings has teamed up with China's Jiangsu Provincial Construction Group Co Ltd (JPC) to jointly undertake infrastructure, property, and construction activities in Malaysia and internationally.

Overnight on Wall Street, US markets ended mixed with the Nasdaq extending its winning streak to seven days as the earnings season kicked off. Earlier, European stocks closed slightly lower amid the second round of Brexit negotiations.
 
At Bursa Malaysia, the FBM KLCI eked out a gain of 0.19 point to 1,755.19. 

Following the mixed performance in the US and Europe, the KLCI could remain sideways above the support of 1,750, said JF Apex Research.