Trading ideas: ECA Integrated Solution, E&O, Comintel, Apollo Food, Carimin, Puncak Niaga, Enra, SCIB and Scomi


KUALA LUMPUR: Stocks to watch for on Wednesday include ECA Integrated Solution, E&O, Comintel, Apollo Food, Carimin, Puncak Niaga, Enra, SCIB and Scomi, said Apex Research.

ECA Integrated Solution Bhd announced a net profit of RM4.13 million in 1QFY23.

Eastern & Oriental Bhd (E&O) has proposed to purchase the remaining 40% equity interest in E&O-PDC Holdings Sdn Bhd from Penang Development Corporation for RM46.95 million.

Comintel Corp Bhd returned to the black after posting a net profit of RM5.57 million in 4QFY23.

Apollo Food Holdings Bhd’s quarterly net profit more than doubled year-on-year to RM10.82 million in 3QFY23.

Carimin Petroleum Bhd has secured a work order to provide an anchor-handling tugboat for Petronas Carigali Sdn Bhd for a period of about six months.

Puncak Niaga Holdings Bhd has bagged a RM82.86 million water pipe replacement sub-contract in Johor, Enra Group Bhd has won a bareboat charter contract worth at least RM41 million.

Sarawak Consolidated Industries Bhd (SCIB) has bagged an engineering, procurement, construction and commissioning (EPCC) sub-contract valued at RM16.8 million.

Scomi Group Bhd is slated to be delisted from the stock exchange on Friday.

Meanwhile, Apex said the FBM KLCI could continue to hover above the support of 1,384 points following the flat performance on Wall Street.

The US market was slightly lower overnight as bond yields rose and investors took profit from the rebound in banking counters.

Meanwhile, European stocks ended slightly higher led by bargain hunting in banks as investor sentiment improved.

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