Trading ideas: Ekovest, Boustead Plantations, MRCB, WCT, Hibiscus

KUALA LUMPUR: Stocks to watch for on Friday include Ekovest Bhd, Boustead Plantations, Malaysian Resources Corp Bhd’s (MRCB), WCT Holdings Bhd, Hibiscus Petroleum Bhd and Deleum Bhd, according to JF Apex Research.

Ekovest has proposed to buy 20 parcels of freehold development land in Johor Bahru for a total of RM1.05bil from Iskandar Waterfront Holdings Sdn Bhd (IWH).

The acquisition of the plots that measure 90.95 acres in total is to expand its land bank from 214 acres to about 305 acres and increase its presence in Iskandar Malaysia;

JF Apex noted that Boustead Plantations, MRCB, Petron, WCT, Kossan, Wah Seong, Hibiscus Petroleum, Southerm Steel, Boilermech, Oriental Food, Engtex saw their quarterly earnings decline year-on-year.

On the other hand, Sunway, PPB, Revenue Group, Tasco, HeveaBoard, Tune Protect, Perak Transit, OCK, Deleum posted better year-on-year quarterly net profits.

Meanwhile, US stocks slipped on Thursday as investors digested the latest reports surrounding the U.S.-China trade war.

The Dow Jones Industrial Average was down 54.8 points, or 0.2% at 27,766.29. The S&P 500 dipped 0.16% to 3,103.54 while the Nasdaq Composite pulled back 0.2% to 8,506.21.

Similarly, European stocks closed lower as Sino-U.S. relations came under strain over Hong Kong, fueling concerns a “phase one” trade deal between the two powerhouses may be pushed into next year.

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Ekovest , WCT , Deleum


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