Trading ideas: CMMT, Marine & General, Gadang, Priceworth


KUALA LUMPUR: CAPITALAND MALAYSIA MALL TRUST (CMMT), MARINE & GENERAL BHD, Gadang Holdings Bhd, Priceworth International and Willowglen MSC Bhd are among stocks to watch on Thursday, according to JF Apex Research.  


The research house said CMMT’s distribution per unit (DPU) fell 2.3% to 2.08 sen for its 3QFY17, from 2.13 sen a year ago as a result of lower net property income (NPI), which declined 2.2% year-on-year no thanks to higher operating expenses.


Petronas Carigali Sdn Bhd has extended by another year a contract awarded to Marine & General for the provision of two anchor handling tug supply vessels. The contract extension is estimated to be valued at RM33mil.


Gadang's net profit rose 9.8% year-on-year mainly driven by its construction division.


Priceworth International has obtained approval for the third forest management plan for a forest management unit in Trus Madi, Sabah;


Willowglen has bagged a RM5.16mil contract from Samsung C&T Corp for the lump sum subcontract for BIMS & Marshalling panel design.


Meanwhile, US markets tumbled overnight following the rising bond yields and disappointing corporate earnings. Similarly,


European stocks declined as automotive and basic resource counters posted worse-than-expected results.


JF Apex said the FBM KLCI could consolidate and hover above the support of 1,730 points after yesterday's rebound.



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