Other companies are WCT, George Kent, HeiTech Padu and plantations.
Gas Malaysia has raised the natural gas selling price for non-power sector in Peninsular Malaysia which resulted from the tariff hike by the government. The gas prices were increased by an average of 2.3% or 45 sen per MMBtu to RM19.77 from RM19.32 and will take effect on Nov 1.
JF Apex Research said users of natural gas such as glove, building material and steel manufacturers are expected to face cost pressure with the price hike of natural gas.
The research house also pointed out Gamuda and MMC were appointed joint venture partners to build the Mass Rapid Transit Line 2 from Sungai Buloh to Serdang and Putrajaya.
WCT secured a RM651mil contract to build a shopping mall in Jalan Cochrane in Kuala Lumpur from Boustead Ikano Sdn Bhd.
George Kent won a RM57mil contract to build and design Phase 2 of the Kuala Lipis Hospital.
JF Apex Research said plantation counters would also generate trading interest after the industry experts said that CPO price has likely bottomed out and will trade between RM2,300 toRM2,500/tonne in near term.
Overnight on Wall Street, US stocks fell digested mulled the ramifications of the widely telegraphed ahead monetary-policy decision from the Federal Reserve.
On the local market, the FBM KLCI surged 13.87 points to close at 1,839.55.
“Following the recent rebound rally, we expect profit taking to kick in and the index could hover around 1,830,” it said.
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