Trading ideas: SCGM, Willowglen, Icon Offshore, GPacket

KUALA LUMPUR: SCGM Bhd, Willowglen MSC Bhd, Icon Offshore Bhd and Green Packet Bhd are among the stocks to watch, according to JF Apex Research.

The research house said SCGM's 4QFY18 net profit plunged 97% year-on-year on higher resin prices, finance costs, depreciation charges, labour cost and foreign exchange losses incurred.

Willowglen MSC has bagged a RM8.62mil contract to undertake maintenance of 30 document management solutions' product data management (PDM) systems and the upgrade of 22 PDM system workstations.

Icon Offshore has bagged a RM23mil contract to provide a utility vessel to Hess Exploration and Production Malaysia BV for its operations.

Green Packet plans to raise as much as RM52.57mil via a renounceable rights issue on the basis of one rights share for every five existing shares held, together with warrants on the basis of three warrants for every one rights share.

Meanwhile, US markets ended mixed on Friday with the Dow rising after a 8-day losing streak.

The Dow Jones Industrial Average rose 119.19 points to 24,580.89 while the S&P 500 gained 0.2% to close at 2,754.88.

European stocks rose after OPEC meeting resulted in members agreeing in production level.

JF Apex said the BM KLCI could climb towards the psychological level of 1,700 points following the improved performance in Wall Street and Europe.

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