Trading ideas: Ikhmas Jaya, Symphony Life, UCrest, KPS, Gamuda

  • Business
  • Tuesday, 10 Apr 2018

KUALA LUMPUR: JF Apex Research expects Ikhmas Jaya Group Bhd, Symphony Life Bhd, UCrest Bhd, Kumpulan Perangsang Selangor Bhd (KPS) and GAMUDA BHD to generate trading interest following their latest corporate news.

Ikhmas Jaya has secured two construction projects with a combined value of RM257.72mil.

Symphony Life has planned to undertake a renounceable rights issue of up to 417.41 million new shares to raise funds, to help repay bank borrowings and finance its ongoing property development project.

UCrest has bagged two contracts worth RM6.1mil in total, for the development of digital platforms for Key Asic Pte Ltd.

Kumpulan Perangsang Selangor, via its subsidiary CENTURY BOND BHD, is partnering China-based Honda Printing Holdings Ltd to produce offset carton boxes for the manufacturing sector.

Gamuda’s 40%-owned unit Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash), is suing Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) for outstanding receivables amounting to RM4.22bil, which it says is owed by Syabas to Splash.

Meanwhile, US markets ended slightly higher after erasing gains from intraday rally as the FBI raided President Donald Trump's lawyer.

The Dow Jones industrial average rose 46.34 points to 23,979.10 while the S&P 500 gained 0.3% to close at 2,613.16.

European stocks also edged higher after fears of a trade war between the US and China eased.

“Following the mixed performance in the US and Europe, the FBM KLCI is expected to remain flat below the resistance at 1,880 points with a negative bias,” JF Apex said.

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