Trading ideas: Aeon Co, Cypark, Advancecon, KSK Land, Pestech, Pavilion REIT, LPI Capital, Tower REIT and Jerasia

KUALA LUMPUR: Stocks to watch for on Tuesday include Aeon Co, Cypark, Advancecon, KSK Land, Pestech, Pavilion REIT, LPI Capital, Tower REIT and Jerasia, said Apex Research.

Aeon Co (M) Bhd is acquiring a piece of land measuring 8.691 hectares in Kota Bharu, Kelantan for RM165 million.

Cypark Resources Bhd was awarded a RM108.84 million contract for the construction of a 10-storey private hospital, together with a six-storey parking lot in Rawang, Selangor.

Advancecon Holdings Bhd secured an RM86 million construction contract from Perbadanan Kemajuan Negeri Selangor (PKNS).

KSK Land Sdn Bhd has terminated its contract with Grand Dynamic Builders Sdn Bhd, a wholly-owned subsidiary of GDB Holdings Bhd.

Pestech International Bhd bagged an asset replacement and rehabilitation contract worth RM34.86 million from Tenaga Nasional Bhd in Cahaya Baru, Pasir Gudang, Johor.

Pavilion Real Estate Investment Trust (Pavilion REIT)’s net property income rose 11.5% to RM104.8 million in 1Q23.

LPI Capital Bhd's net profit grew 14% to RM73.83 million in 1Q23, Tower REIT posted an 87% year-on-year drop in its 3QFY23 net profit to RM146,000.

Jerasia Capital Bhd's wholly-owned subsidiary has received a winding-up petition from RHB Bank Bhd over unpaid debts amounting to RM28.81 million.

Meanwhile, Apex said the FBM KLCI could remain sideways below the resistance of 1,431 points following the flattish performance on Wall Street.

The US market was flat overnight as investors digest mixed corporate earnings announcements. Investors look forward to results of tech giants such as Alphabet, Amazon, Meta and Microsoft this week as well as first quarter GDP.

Earlier, European stocks ended mixed amid the ongoing results season.

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