Trading ideas: Sapura Energy, Gagasan Nadi Cergas, Microlink, JAKS, Destini, KKB Engineering

KUALA LUMPUR: SAPURA ENERGY BHD, Gagasan Nadi Cergas Bhd, MICROLINK SOLUTIONS BHD, JAKS Resources Bhd. Destini Bhd and KKB Engineering Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Sapura Energy has been awarded four new contracts and one extension with a combined value of RM760mil.

The jobs involve three drilling contracts and two contracts for the engineering and construction segment, in Malaysia and Angola.

Gagasan Nadi Cergas, which is slated to be listed on the ACE Market today, announced that it has secured a RM109.99mil contract to build two blocks of apartments in Putrajaya.

Microlink Solutions has accepted a letter of award from Payments Network Malaysia Sdn Bhd (PayNet) for the supply and implementation of a Real-Time Electronic Transfer of Funds and Securities System (Rentas) platform replacement worth RM27.43mil.

JAKS Resources has failed again in its bid to get the court's permission to appeal against the release of a RM50mil bank guarantee to STAR MEDIA GROUP BHD.

Destini has received a further three-year extension from the Home Affairs Ministry to maintain, repair and overhaul safety and survival equipment for the Royal Malaysian Police's Air Operation Force with the contract's ceiling value at RM10mil.

KKB Engineering has signed a letter of award by Petroliam Nasional Bhd, which will qualify it to bid for contract work involving the provision of engineering, procurement and construction of fixed offshore structure works.

Meanwhile, US markets rose overnight amid volatile trading as the US-China trade negotiations begin.

Earlier in the day, European stocks declined on concerns over global economic growth, Brexit and the US government shutdown.

“Following the positive performance in Wall Street, the FBM KLCI is expected to extend its rebound towards the resistance of 1,710 points,” JF Apex said.


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