Trading ideas: Ranhill, Hua Yang, Ikhmas Jaya, Tek Seng

KUALA LUMPUR: JF Apex Research expects Ranhill Holdings Bhd, Hua Yang Bhd, Ikhmas Jaya Group Bhd and Tek Seng Holdings Bhd to be among the stocks to watch following their latest news.

Ranhill Holdings, via its associate Perunding Ranhill Worley Sdn Bhd (PRW), has won a contract from Kebabangan Petroleum Operating Co Sdn Bhd (KPOC) to provide engineering support and design services to the KPOC-Kebabangan northern hub platform in Sabah.

Hua Yang’s 1QFY19 net profit declined 45.5% year-on-year, owing to higher finance costs.

Ikhmas Jaya has bagged a subcontract worth RM78mil for the construction of a marine bridge under the Seri Tanjung Pinang development in Penang.

Tek Seng said its 50.69%-owned subsidiary TS Solartech Sdn Bhd has decided to temporarily stop its photovoltaic (PV) production activities in Penang in the third quarter of this year.

Meanwhile, US markets ended mixed overnight amid quarterly results and housing data missed expectation.

The Dow Jones Industrial Average rose 79.40 points to close at 25,199.29 while the S&P 500 climbed 0.2% to 2,815.62.

Earlier, European stocks climbed following encouraging corporate earnings.

“After the recent rebound, the FBM KLCI could take a breather and consolidate around the 1750-point level before resuming its uptrend,” JF Apex said.

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