News by Surin Murugiah

Protasco Bhd shares rose 1.83% at mid-morning today after it secured a RM174.4 million infrastructure works contract from Central Spectrum (M) Sdn Bhd, a subsidiary of Kumpulan Hartanah Selangor Bhd.

Eco World International Bhd (EWI) shares rose 2.88% in early trade this morning after the company posted a narrower net loss of RM24.82 million in 2QFY17, compared with RM60.82 million a year earlier.

Vivocom International Holdings Bhd rose 4.17% in early trade this morning.

Ibraco Bhd shares rose 2.38% in thin trade this morning after Hong Leong IB Research initiated coverage on Ibraco with a “Buy” rating and target price of 97 sen (upside of 15.5%) based on 35% discount on RNAV of RM1.49.

Bintai Kinden Corp Bhd rose 2.44% this morning after it bagged a US$17.5 million (RM74.5 million) deal in Myanmar.

This is the fifth contract win for the group for the year, bringing its total outstanding order book to RM881.5 million to date.

Due mainly to a one-off non-cash impairment arising from the group’s corporate restructuring plan.

Eversendai Corporation Bhd rose 1.02% in early trade today after Kenanga IB Research maintained its “Underperform”rating on the stock with a higher target price of 77 sen (from 49 sen) sen and said the company’s 1Q17 beat house expectations given Kenanga’s overly conservative margins for its projects in Middle East, India and Malaysia.

Securities Commission Malaysia has filed a civil suit at the Kuala Lumpur High Court against seven individuals for insider trading involving the shares of Worldwide Holdings Bhd.

Kerjaya Prospek Group Bhd net profit for the first quarter ended March 31, 2017 rose 21.83% to RM28.85 million versus RM23.68 million a year earlier, driven mainly by its construction segment.