Trading ideas: Econpile, Hai-o, United Malacca, Bina Puri, Chin Hin

KUALA LUMPUR: JF Apex Research expects Econpile Holdings Bhd, Hai-O Enterprise Bhd, United Malacca Bhd, Bina Puri Holdings Bhd and Chin Hin Group Bhd to generate trading interest today following their latest news.

Econpile has secured a RM32.8 million contract to undertake piling and related works for a mixed development in Kuala Lumpur.

Hai-O’s 2QFY18 net profit rose 34.76% year-on-year, on higher revenue in its wholesale and multi-level marketing (MLM) divisions.

United Malacca’s 2QFY18 net profit fell 30.5% year-on-year due to extended wet weather in Sabah which affected crop production, coupled with low fresh fruit bunches (FFB) yield and higher unit cost of production.

Bina Puri has bagged a project from Malaysia's Energy Commission to develop a 5MW solar photovoltaic plant in Kunak, Sabah under the commission's large-scale solar plant initiative.

Chin Hin will construct an integrated workers complex with comprehensive facilities in Pengerang, Johor, for RM238.3mil.

Meanwhile, U.S. stocks closed at all-time highs on Monday as investors eagerly awaited a vote on a bill that would cut corporate taxes.

Similarly, European stocks closed sharply higher, amid heightened expectations that U.S. lawmakers could pass a long-awaited tax bill.

“Following the overnight bullish performance in overseas markets, the benchmark index could stay above its psychological level of 1,750 points,” JF Apex said.

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