Trading ideas: Pestech, Pesona, Evergreen, Ta Ann, MGB

KUALA LUMPUR: Pestech International Bhd, Pesona Metro Holdings Bhd, Evergreen Fibreboard Bhd, Ta Ann Holdings Bhd and MGB Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Pestech has been awarded a RM64.96mil traction power supply job involving the Malaysia-Singapore Rapid Transit System (RTS) link assets.

Pesona Metro has bagged a mixed development project worth RM319mil for the construction and mechanical and engineering works for a 44-storey office tower for Tenaga Nasional Bhd in Kuala Lumpur.

Evergreen Fibreboard returned to the black with a net profit of RM9.64mil for its 1QFY21 against a net loss of RM12.15mil a year ago due to higher revenues from downstream products, higher average selling prices for panel boards, and lower operational costs as a result of higher production efficiency and foreign exchange gains.

Ta Ann said the tight supply of natural logs is likely to uphold export log prices, while Japan's plan to improve infrastructure will help sustain the group's plywood exports, according to its executive chairman Datuk Amar Abdul Hamed Sepawi.

MGB is expected to achieve strong revenue and earnings growth over the next two years, at least, backed by its "Rumah Idaman” affordable home projects.

Chairman Datuk Abdul Majit Ahmad Khan said MGB’s expertise on this front had garnered the company a signed consortium agreement with PNSB Construction Sdn Bhd, a subsidiary of the Selangor government, to develop such projects in the future.

Meanwhile, US market closed slightly lower overnight following decline in technology counters and concerns over inflation.

Similarly, European stocks slipped amid concerns over inflation and rising cases of coronavirus.

“Following the negative performances in the US and Europe, the FBM KLCI could remain lacklustre and hover sideways above the support of 1,560 points,” JF Apex said.

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Pestech , Pesona , Evergreen , Ta Ann , MGB


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