Trading ideas: Gas Malaysia, Kelington, Zecon, IJM Corp, ECS ICT

KUALA LUMPUR: Gas Malaysia Bhd, Kelington Group Bhd, Zecon Bhd, IJM Corp Bhd and ECS ICT Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Gas Malaysia reported a 42% year-on-year jump in its 2QFY18 net profit thanks to a higher volume of natural gas sold and higher natural gas tariff.

Kelington has bagged several new orders worth RM55mil, boosting total new orders secured to RM236mil year-to-date, from RM181mil previously.

Zecon has received a notice of termination from the Public Works Department for the construction of Hospital Petra Jaya in Kuching Sarawak.

The contract, worth RM495mil, was first awarded by JKR to Zecon in April 2013.

IJM Corp’s plan for a RM1.2bil development project in Penang’s Seberang Perai Tengah has fallen through following the termination of a conditional share sale agr eement to acquire Giant Hectares Sdn Bhd.

ECS ICT announced a 15% year-on-year decline in its 2QFY18 net profit as revenue fell 19% year-on-year due to cautious consumer spending prior to the 14th general election, and the transitional period of the goods and services tax, which hit its ICT distribution business segment.

Meanwhile, US markets ended flat after China unleashed new tariffs on US products.

Earlier, European stocks closed mixed amid corporate earnings and concerns on global trade.

“Following the mixed performance in the US and Europe, the FBM KLCI could take a breather from its recent surge and trend sideways,” JF Apex said.

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