Trading ideas: IWCity, Gamuda, Salcon, Cabnet

  • Analyst Reports
  • Monday, 23 Jul 2018

KUALA LUMPUR: Iskandar Waterfront City Bhd (IWCity), Gamuda Bhd, Salcon Bhd and Cabnet Holdings Bhd are among the stocks to watch on Monday, according to JF Apex Research.

IWCity announced that its parent firm, Iskandar Waterfront Holdings Sdn Bhd (IWH), has not submitted a fresh bid for projects related to the development of Bandar Malaysia, whose gross development value was previously estimated to be RM160bil.

Gamuda’s 40% associate Syarikat Pengeluar Air Selangor Holdings Sdn Bhd (Splash) has withdrawn its claims against Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) in order to facilitate negotiations on the disposal of Splash with the State government of Selangor.

Salcon has bagged a contract worth RM9.95mil to construct a sewage treatment plant in Kuala Langat, Selangor.

Cabnet has won a RM12.22mil contract, from Country Garden Pacificview Sdn Bhd, for the provision of extra low voltage works for nine 40-storey blocks of serviced apartments located in Forest City, Johor.

Meanwhile, US markets ended flat on Friday as strong corporate earnings mitigated President Trump's comments on the trade war with China.

European stocks declined after Trump said the US is prepared to impose tariffs on $505 billion worth of Chinese products.

“Following the uncertainty from the trade war, the FBM KLCI could hover sideways and consolidate around the 1750-point level,” JF Apex said.

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