Trading ideas: Damansara Realty, Kimlun, MCE, George Kent

KUALA LUMPUR: JF Apex Research expects Damansara Realty , Kimlun, MCE and George Ken to be among the stocks to watch on Friday following their latest corporate news.

The research house also expects Jaycorp, Kim Loong Resources and SYF to generate trading interest today.

Damansara Realty has secured the renewal of five contracts from Telekom Malaysia Bhd for integrated facilities management (IFM) services worth RM5mil.

Kimlun has been awarded a RM50mil contract to build a connecting road to the Tanjung Langsat–Cahaya Baru Toll Connecting Highway in Johor.

MCE has bagged contracts worth RM33mil to supply various electronic and mechatronic components and parts for Perodua's new car models.

George Kent’s net profit for the second quarter ended July 31, 2017 rose 24% year-on-year thanks to higher contribution from both its engineering and metering divisions.

Jaycorp’s net profit for the fourth quarter ended July 31, 2017 rose 42.3% year-on-year on higher contribution from its furniture segment.

Kim Loong Resources recorded a 61.6% year-on-year jump in its 2QFY18 net profit on higher oil palm output and prices.

SYF’s net profit for the fourth quarter ended July 31 fell 43.4% year-on-year due to higher raw material costs, and a shortage of raw materials and labour.

Overnight, the US markets  ended slightly higher with the S&P hitting a record high following optimism on Trump's tax reform plan.

Earlier, European stocks also climbed after the European Central Bank hinted it might extend its monetary policy.

“Following the bearish momentum, the FBM KLCI could extend its selldown towards the support of 1,750 points,” JF Apex said.

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