Trading ideas: Econpile, Hai-o, United Malacca, Bina Puri, Chin Hin – Business News
KUALA LUMPUR: JF Apex Research expects Econpile Holdings Bhd , Hai-O Enterprise Bhd , United Malacca Bhd , Bina Puri Holdings Bhd and Chin Hin Group Bhd to generate trading interest today following their latest news.
Econpile has secured a RM32.8 million contract to undertake piling and related works for a mixed development in Kuala Lumpur.
Hai-O’s 2QFY18 net profit rose 34.76% year-on-year, on higher revenue in its wholesale and multi-level marketing (MLM) divisions.
United Malacca’s 2QFY18 net profit fell 30.5% year-on-year due to extended wet weather in Sabah which affected crop production, coupled with low fresh fruit bunches (FFB) yield and higher unit cost of production.
Bina Puri has bagged a project from Malaysia’s Energy Commission to develop a 5MW solar photovoltaic plant in Kunak, Sabah under the commission’s large-scale solar plant initiative.
Chin Hin will construct an integrated workers complex with comprehensive facilities in Pengerang, Johor, for RM238.3mil.
Meanwhile, U.S. stocks closed at all-time highs on Monday as investors eagerly awaited a vote on a bill that would cut corporate taxes.
Similarly, European stocks closed sharply higher, amid heightened expectations that U.S. lawmakers could pass a long-awaited tax bill.
“Following the overnight bullish performance in overseas markets, the benchmark index could stay above its psychological level of 1,750 points,” JF Apex said.