Trading ideas: Scientex, Advancecon, Bina Puri, Titijaya, Muhibbah


KUALA LUMPUR: Scientex Bhd, Advancecon Holdings Bhd, Bina Puri Holdings Bhd, Titijaya Land Bhd and Muhibbah Engineering (M) Bhd are among the stocks to watch on Friday, according to JF Apex Research.


The research house also expects Sapura Energy Bhd, United Malacca Bhd and Malaysian Resources Corp Bhd (MRCB) to generate trading interest following their latest corporate news.


Scientex’s 2Q net profit rose 4.3% year-on-year, driven by growth in its manufacturing segment.


Advancecon has clinched its single-largest contract win of RM370.1mil to undertake earthworks and civil works for the West Coast Expressway (WCE) project.


Bina Puri and Titijaya Land have entered into a new joint venture to develop a residential and commercial project on an 11.2-acre land adjacent to the monorail depot in Brickfields.


Sapura Energy said it will commence production at the B15 field offshore Sarawak with the first gas milestone achieved within two years of the sanction of its field development plan.


Muhibbah Engineering’s 49%-owned joint-venture company has won an RM32.7mil contract for the Light Rail Transit Line 3 (LRT3) project.


United Malacca, in announcing its 3Q net profit which fell 40% year-on-year warns that its financial year FY18 will record "substantially lower" profit than a year ago.


MRCB unit gets RM7.5bil management contract for Kwasa Damanasara town centre.


Meanwhile, US markets plunged over 2% overnight on concerns of trade war after President Trump revealed tariffs on China for intellectual property theft.


The Dow Jones industrial average dropped 724.42 points to close at 23,957.89 while the S&P 500 fell 2.5% to 2,643.69.


Similarly, European stocks tumbled after being dragged by technology counters as UK's central bank kept interest rates unchanged.


“Following the bearish performance in the US and Europe, the FBM KLCI could reverse its gains this week with support at 1,840 points,” JF Apex said.


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