Trading ideas: Bina Puri, ManagePay Systems, Ivory Properties, DNX, Chin Teck and Gadang

KUALA LUMPUR: Stocks to watch for on Monday include Bina Puri, Managepay Systems, Ivory Properties, DNX, Chin Teck and Gadang, said Apex Research.

Bina Puri Holdings Bhd’s JV bagged a sub-contract worth RM72.85 million under a Public Works Department project in Mukah.

ManagePay Systems Bhd (MPay) is looking to raise up to RM13.8 million through a private placement of shares.

Ivory Properties Group Bhd's external auditor Messrs UHY has flagged a material uncertainty on its going concern.

DXN Holdings Bhd reported a marginal 0.57% increase in its 1QFY23 net profit to RM77.6 million.

Chin Teck Plantations Bhd’s 3QFY23 net profit fell 62.2% to RM11.44 million.

Gadang Holdings Bhd saw its net loss widen by more than six times to RM27.71 million in 4QFY23.

Meanwhile, US stocks rose on Friday after June data for personal consumption expenditures price index continued to show slowing inflation.

Earlier, European markets declined after mixed GDP data from France, Germany and Spain.

On the local market, the FBM KLCI shed 0.92 points or 0.06% to 1,450.35 points.

"Following the recent bullish momentum, the FBM KLCI could take a breather and consolidate below the resistance of 1,460 points," said Apex.

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