Trading ideas: EcoWorld International, Gamuda, REDtone, GPacket – Business News
KUALA LUMPUR: EcoWorld International Bhd, Gamuda Bhd , REDtone International Bhd , Green Packet Bhd , Ta Win Holdings Bhd and Hubline Bhd are among the stocks to watch on Monday, according to JF Apex Research.
Eco World International and UK-based Willmott Dixon Holdings Ltd’s development arm Be Living Holdings Ltd will jointly develop 12 sites in Greater London and the South East of England under a proposed JV with the estimated gross development value of at least £2.6 billion (RM14bil).
Gamuda’s 1QFY18 net profit surged 25.2% year-on-year on higher construction progress and overseas property sales.
REDtone has aborted plans to jointly explore business opportunities with PT Sigma Cipta Caraka TelkomSigma to offer managed information and communication technology (ICT) value-added services and solutions for the Indonesian market.
Green Packet is teaming up with Asia Television Digital Media (M) Sdn Bhd (ATVM) — whose ultimate holding company is Hong Kong-listed Co-Prosperity Holdings Ltd — to jointly operate television channels in Malaysia.
Ta Win plans to undertake a rights issue to raise RM51.43mil to finance its working capital and debt repayment.
Hubline has proposed a private placement of up to 10% of its issued capital to pare down debts.
Meanwhile, US markets rallied to all-time highs on Friday following optimism on tax reform to reduce corporate tax from 35% to 21%.
European stocks ended mixed amid uncertainty regarding Brexit talks.
JF Apex said the FBM KLCI index index could take a breather and hover around 1,750 points after last week’s rally.