Trading ideas: CSC Steel, Hexza, Ranhill, George Kent, Guan Chong

KUALA LUMPUR: JF Apex Research expects CSC Steel Holdings Bhd , Hexza Corp Bhd , Ranhill Holdings Bhd , George Kent (M) Bhd and Guan Chong Bhd to attract trading interest following their latest corporate news.

CSC Steel’s 4QFY17 net profit more than doubled year-on-year, as it enjoyed higher sale margins for all its steel products.

Hexza’s 2QFY18 net profit shrank 84.03% year-on-year, dragged by its resins and investment segments.

Ranhill has received a conditional letter of award from the Energy Commission to build a 300-megawatt (MW) combined cycle gas turbine power plant in Sandakan, Sabah.

George Kent will collaborate with Siemens, Alstom , Ferrovie dello Stato Italiane and PORR to form an engineering, procurement and construction (ECM) and operations and maintenance (O&M) consortium to bid for the Kuala Lumpur-Singapore High Speed Rail (HSR) project.

Guan Chong's 4QFY17 net profit jumped over 11 times year-on-year, as the group enjoyed improved margin and an unrealised gain derived from commodity futures contract.

Meanwhile, US markets rebounded sharply after news of the government announcing a US$200bil infrastructure spending plan.

The Dow Jones industrial average closed 410.37 points higher at 24,601.27 and rose as much as 574.26.

Similarly, European stocks rallied after being led by gains in chemical, basic resources and energy counters.

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