Trading ideas: Gamuda, MMC, MISC, Scomi, Vizione, Ranhill and Bintai Kinden

KUALA LUMPUR: Stocks to watch for on Tuesday include Gamuda, MMC, MISC, Scomi Group, Vizione, Ranhill and Bintai Kinden, said JP Apex Research in its daily highlights report.

According to the research house, a jointly owned unit of Gamuda and MMC has been served an arbitration notice relating to the 329km Electrified Double Track Project (EDTP) between Ipoh and Padang Besar by Emrail

MISC’s 51%-owned joint venture with PetroVietnam Technical Services Corporation has won a time charter contract to lease a floating storage and offloading vessel for US$176mil (RM735mil).

Subsidiaries of Scomi Group have been served a notice of demand for US$19.13mil (RM79.83mil) by the Export-Import Bank of Malaysia (EXIM) over the failure to pay the amount due under bank facilities.

Vizione’s 1QFY19 net profit leapt 28 times yoy thanks to higher contributions from construction projects.

The Energy Commission (EC) has rescinded the proposed 300MW power plant project in Sandakan that was awarded to Ranhill earlier.

Bintai Kinden has secured two contracts from Tenaga Nasional Bhd worth RM33.95mil in total.

Over on Wall Street last night, the Dow Jones tumbled 245 points or 1% in a wild session of trading that saw a spread of 900 points between the day's high and low.

Meanwhile, European stocks closed sharply higher with auto counters surging on reports of a China tax cut.

Investors experienced another jolt to sentiment however as the US was said to plann further tariffs in the event the meeting between the White House and Beijing fails.