Trading ideas: E&O, UOA Development, Kelington, Hock Seng Lee, Barakah


KUALA LUMPUR: EASTERN & ORIENTAL BHD (E&O), UOA Development Bhd, Kelington Group Bhd, Hock Seng Lee Bhd and BARAKAH OFFSHORE PETROLEUM BHD are among the stocks to watch on Tuesday, according to JF Apex Research.


E&O aims to raise as much as RM550.3mil via a private placement and renounceable rights issue to fund its property development projects, which consists of Phase 2 of its Seri Tanjung Pinang reclamation and property development project (STP2), as well as the upcoming residential property projects in Kuala Lumpur such as The Conlay and The Peak.


UOA Development said two of its wholly-owned units, Windsor Triumph Sdn Bhd and Sunny Uptown Sdn Bhd have been served with notices of additional assessment for additional income tax and penalties totalling RM39.62mil.


Kelington has secured a turnkey construction and engineering services contract in Singapore worth S$31mil (RM93mil).


Hock Seng Lee has received two letters of acceptances from Sarawak Energy Bhd for RM54.3mil worth of power plant projects in Mukah.


The scope of works include pilling, earth works, infrastructure works, building works for staff accommodation and related amenities, as well as the associated mechanical and electrical works.


Barakah Offshore has bagged a Farm-In Agreement from IPC Malaysia BV. The contract is for Barakah to provide maintenance, construction and modification services in the oil & gas fields offshore of Peninsular Malaysia to IPC Malaysia’s client, Pan Malaysia.


Meanwhile, US markets ended mixed amid ongoing trade talks between the US and China.


Earlier, European stocks advanced with banking counters leading the charge.


“Following the mixed performance in the US and Europe, the FBM KLCI could continue to hover sideways below its resistance of 1,710 points,” JF Apex said.



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