Trading ideas: Muhibbah, AWC, Mega First, KNM

KUALA LUMPUR: Muhibbah Engineering, AWC , Mega First and KNM are among the stocks to watch on Wednesday after their latest corporate news, says JF Apex Research.

It said Muhibbah secured a RM168mil contract for infrastructure works at the Kertih Biopolymer Park in Terengganu.

As for AWC, its unit and the federal government mutually agreed to terminate the RM130mil contract to maintain the integrated transport terminal at Bandar Tasik Selatan.

JF Apex Research also noted that Ireka won a RM60.8mil refurbishment contract at Pantai Hospital Kuala Lumpur.

Mega First secured US$150m funding to construct the Don Sahong hydropower project in Laos.

KNM’s unit awarded a RM1.9bil EPCC contract to China Western Power Industrial Co for Phase one of its biomass energy plant in the UK.

Overnight on Wall Street, US markets closed higher. The Dow hit a record high after corporate announcements by Wal-Mart, Pfizer and Honeywell. Earlier, European stocks ended mixed amid ongoing political uncertainty in Spain and higher oil prices.
At Bursa Malaysia, the FBM KLCI lost 2.90 points to 1,761.13. 

“Following the mixed performance in the US and Europe, the KLCI could extend its lacklustre performance and hover above the support of 1,750,” it said. 

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