Trading ideas: KAB, Cypark Resources, Gamuda, Sunway Construction, Petra Energy, G Capital and Bintai Kinden

KUALA LUMPUR: Investors could be eyeing stocks with recent corporate news flow including KAB, Cypark Resources, Gamuda, Sunway Construction, Petra Energy, G Capital and Bintai Kinden, said Apex Research.

Kejuruteraan Asastera Bhd’s (KAB) as it has secured a RM230m EPCC contract from Petronas Gas Bhd for a 52-megawatt (MW) power plant and its associated facilities in Sabah.

Sources said Jakel Group is expected to surface as the single largest shareholder in renewable energy company Cypark Resources Bhd.

Gamuda Bhd is buying eight parcels of freehold land in Rawang collectively spanning 532 acres for RM360 million, for a mixed development with a gross development value of RM3.3 billion over a 10-year period.

Sunway Construction Group Bhd (SunCon) has entered into a RM1.7 billion contract to provide general contractor services for a data centre construction project in Sedenak Tech Park (STeP), Johor.

Petra Energy Bhd’s contract for the provision of services to operate and maintain Petronas' Banang oilfield off Terengganu has been extended by 22 months until Aug 6, 2024.

G Capital Bhd’s two-year contract for the chartering of school buses for the children of armed forces personnel has been extended by another year at an additional value of RM8.41 million.

Bintai Kinden Corp Bhd has secured additional subcontracts worth RM4 million to supply carbon steel piping, valves and piping accessories to various oil and gas businesses.

Meanwhile, Apex said the FBM KLCI could remains sluggish with support at 1,460 points following the decline on Wall Street.

The US market started the year on a negative note following fears of rising interest rates, high inflation and potential recession.

Earlier, European stocks climbed after Germany's lower-than-expected inflation figures for December.

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