Trading ideas: BCorp, Econpile, GPacket, Careplus, SAM Engineering, MMS Ventures

KUALA LUMPUR: Berjaya Corp Bhd (BCorp), Econpile Holdings Bhd, Green Packet Bhd, Careplus Group Bhd, Sam Engineering & Equipment (M) Bhd and MMS Ventures Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

BCorp has secured a development tender approval by the City of Yokohama to develop projects involving a global luxury hotel and hotel condominium, together with aquarium and retail outlets.

Econpile has bagged an RM104.5mil contract from WCT Bhd to undertake reinforced concrete works for a seven-storey retail podium of Pavilion Damansara Heights Phase 2.

Green Packet is diversifying its principal business activities to include cloud computing solutions. In a statement, the group said the new cloud computing business will be a key strategic pillar in its overall play in the digital and technology ecosystem.

Careplus saw its first quarter net profit more than triple to RM1.14mil from RM363,000 a year earlier, on higher revenue and lower tax incurred.

SAM Engineering’s net profit dropped 33.53% for the fourth quarter ended March 31, 2020, to RM14.91mil from RM22.44mil a year ago, despite higher revenue.

MMS Ventures’1QFY20 net profit declined 75.7% year-on-year on the back of lower revenue.

Property and automotive sectors were among the sectors that received a much needed boost from the government’s Short-Term Economic Recovery Plan.

Meanwhile, US markets surged overnight as the bullish momentum continues to be fueled by investor optimism on reopening of the economy and government stimulus.

Earlier, European stocks declined following lower German industrial production.

“Following the positive performance in Wall Street as well as the government's RM35bil package announced on Friday, the FBM KLCI could extend its uptrend towards the resistance of 1,570 points,” JF Apex said.