Trading ideas: Matrix Concepts, Gadang, SLP Resources

  • Business
  • Monday, 07 Aug 2017

KUALA LUMPUR: JF Apex Research expects Matrix Concepts, Gadang Holdings, SLP Resources, MMC Corp and Suria Capital to be among the stocks to watch on Monday following their corporate news.

Matrix Concepts plans to buy 21 parcels of land in Port Dickson, Negeri Sembilan, for RM56.99mil, which will serve as an extension to its existing Bandar Sri Sendayan development.

JF Apex said Gadang has bagged a RM475mil contract to build a 288-bed hospital in Cyberjaya, Selangor.

Meanwhile, SLP Resources reported a 57.84% yoy drop in net profit for its 2QFY17, mainly due to higher costs of raw materials, which were mainly caused by higher average prices of plastic resins.

MMC Corp is is understood to be in talks with Suria Capital, a company controlled by the Sabah government, to buy a stake in Suria Cap’s wholly owned subsidiary Sabah Ports Sdn Bhd, based on a media report.

The US markets advanced on Friday with the Dow extending its record high for the 8th consecutive day following better-than-expected employment data. Earlier, European stocks climbed amid earnings season and US jobs report.

“Following the bullish performance in the US and Europe, the FBM KLCI could extend its rebound towards the resistance of 1,800 points,” JF Apex said.

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