Trading ideas: Tuju Setia, Genetec, Econpile, Globaltec, EKA

KUALA LUMPUR: JF Apex Research expects Tuju Setia Bhd, Genetec Technology Bhd, Econpile Holdings Bhd, Globaltec Formation Bhd and Eka Noodles Bhd to be among the stocks to watch on Friday.

Tuju Setia has secured two contracts worth RM119.78mil for the construction of a commercial development project in Seri Kembangan.

Genetec Technology has secured RM41.2mil in new orders from existing customers.

Econpile announced that it has received a piling and foundation works award for a service apartment project along Jalan Raja Chulan for RM64.25mil.

Globaltec Formation said that its Australia-listed subsidiary NuEnergy Gas Ltd is expected to obtain approval from the Indonesian government to develop its Tanjung Enim block in South Sumatera.

Eka Noodles will be suspended from May 31, after Bursa Malaysia Securities rejected its application for a further extension of time to submit its revised proposed regularisation plan.

InNature, LBS, UOA REIT, Heineken, SunCon, Leong Hup, Sarawak Plantation, KPower, Hock Seng Lee, Sime Darby Plantation, Freight Management recorded better year-on-year quarterly results.

On the other hand Berjaya Toto, AirAsia X posted weaker year-on-year quarterly results.

Overnight, the US market rebounded from a 3-day losing streak after better-than-expected jobless claims.

Similarly, European stocks climbed with automotive counters leading the gains as almost all sectors posted positive returns.

“Following the positive performances in the US and Europe, the FBM KLCI could follow suit and stage a rebound with support at 1,560 points,” JF Apex said.

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Tuju Setia , Genetec , Econpile , Globaltec , EKA


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