Trading ideas: Kelington, Hibiscus, Pestech, Mitrajaya, Luster Industries

  • Analyst Reports
  • Wednesday, 10 Oct 2018

KUALA LUMPUR: Kelington Group Bhd, Hibiscus Petroleum Bhd, Pestech International Bhd, Mitrajaya Holdings Bhd and Luster Industries Bhd are among the stocks to watch, according to JF Apex Research.

Kelington has secured three overseas contracts worth a combined RM101mil while Hibiscus has acquired a 50% interest in two oilfields offshore in UK for US$37.5mil.

Pestech bagged a sub-contract amounting RM75mil for electrified double-track project.

Mitrajaya secured a contract from IMU for RM99.9mil to build a seven-storey private hospital at Bukit Jalil.

Luster Industries proposed to undertake a private placement RM16.99mil to funding property development projects and manufacturing business.

Meanwhile, US markets ended mixed with the Dow and S&P falling after Treasury bond yields rose to multi-year highs while Nasdaq closed slightly higher following gains in technology counters.

The Dow Jones Industrial Average closed 56.21 points lower at 26,430.57 while the S&P 500 dipped 0.1% to 2,880.34.

Earlier, European stocks climbed despite concerns on Italy's budget and deficit targets.

“Following the mixed performance in the US and European markets, the FBM KLCI is expected to remain sideways above the support of 1,770 points,” JF Apex said.

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Kelington , Hibiscus


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