Trading ideas: T7 Global, Ekovest, JCY, KESM, Matrix Concepts

KUALA LUMPUR: T7 Global Bhd, Ekovest Bhd, JCY International Bhd (JCY), KESM Industries Bhd and Matrix Concepts Holdings Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

T7 Global has bagged two contracts, with the first to provide splash zone structural repair and maintenance to Petronas Carigali Sdn Bhd, and the second to provide manpower services to Vestigo Petroleum Sdn Bhd.

Ekovest has proposed to acquire a 23.42% stake in PLS Plantations Bhd that is held by Serumpun Abadi Sdn Bhd, a company owned by its executive chairman Tan Sri Lim Kang Hoo, for RM76.5mil.

JCY has agreed to receive 133.30 million yuan (RM81.05mil) as compensation for the relocation of its properties in China’s Suzhou Wuzhong Economic Technology Development Area.

KESM’s 2QFY19 net profit plunged 95.76% year-on-year, hit by lower margin and as customers instituted higher inventory control measures in light of the US-China trade war uncertainties.

Matrix Concepts has proposed a private placement of 75 million shares or 10% of its issued shares to raise up to RM147mil to fund its Indonesian Islamic financial district development joint venture, where it is participating with a 30% stake.  

Meanwhile, US markets ended mixed as the Dow was dragged down by Boeing while the S&P and Nasdaq rose after inflation data.

The S&P surged 0.3% to 2,791.52 while Dow Jones fell 96.22 points to 25,554.66.

European stocks were flat ahead of key Brexit vote.

“Following the uncertainties in Wall Street and Europe, the FBM KLCI could trend sideways and hover above the support of 1,655 points,” JF Apex said.

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T7 Global , Ekovest , KESM


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