Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
Post a Comment

Key Corporate Updates from Malaysia

 

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

  1. Bursa Malaysia Bhd (KL):

    • Financial Performance: Reported its highest quarterly net profit in three years at RM80.45 million (9.9 sen per share) for 2QFY2024, up 5.5% year-on-year.
    • Revenue: Rose 38.27% to RM199.94 million.
    • Operations: Only the "front office" will move to the Tun Razak Exchange (TRX), while the bulk of operations remain at the current headquarters.

  2. Pensonic Holdings Bhd (KL):

    • Financial Performance: Posted its biggest quarterly net loss since listing, at RM14.28 million for 4QFY2024, mainly due to inventory write-downs.
    • Revenue: Increased by 8.33% to RM85.14 million.
    • Dividend: No dividend declared for the quarter.

  3. Tasco Bhd (KL):

    • Financial Performance: Net profit halved to RM7 million (0.88 sen per share) for 1QFY2025, primarily due to a one-time expense of RM3.6 million.
    • Revenue: Decreased slightly by 1.29% to RM249.93 million.
    • Dividend: No dividend declared during the quarter.

  4. Unisem (M) Bhd (KL):

    • Financial Performance: Net profit fell 29% to RM16.76 million (1.04 sen per share) for 2QFY2024, due to changes in product mix and higher operating costs.
    • Revenue: Increased 4% to RM394.59 million.
    • Dividend: Declared a second interim dividend of two sen per share, to be paid on Oct 4.

  5. Dufu Technology Corp Bhd (KL):

    • Financial Performance: Net profit more than doubled to RM8.42 million (1.6 sen per share) for 2QFY2024.
    • Revenue: Increased by 36.4% to nearly RM65 million.
    • Dividend: Declared a single-tier interim dividend of 1.5 sen per share, to be paid on Sept 20.

  6. ITMAX System Bhd (KL):

    • Contract: Its 65% subsidiary, Southmax Sdn Bhd, appointed as the operator of a smart parking system by the Kulai Municipal Council in Johor, effective Aug 1, 2024, for 15 years.

  7. Advancecon Holdings Bhd (KL):

    • Contract: Accepted a RM38.25 million contract from Sime Darby Property (Bukit Raja) Sdn Bhd for construction and earthworks in Klang, running from Aug 14, 2024, to Feb 13, 2026.

  8. AwanBiru Technology Bhd (KL):

    • Partnership: Teaming up with the National Cyber Security Agency (Nacsa) to develop new cybersecurity technologies. The MOU, expiring on July 29, 2026, may be extended for another year.

  9. TCS Group Holdings Bhd (KL):

    • Contract: Secured a RM130.15 million contract for the construction of 630-unit serviced apartments, known as Arcadia Residences, in Kuala Langat, Selangor. The contract was awarded by Saujana Permai Development Sdn Bhd, a wholly owned subsidiary of CDB Group Holdings Sdn Bhd.

  10. Enra Group Bhd (KL):

    • Asset Sale: Plans to sell its Ratu Enra ship for an indicative US$15 million (RM70.06 million), capitalizing on rising market value due to high demand in the industry. Shareholders’ approval will be sought for the disposal.
Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

Analysts See Asset Resilience of Bank of Chengdu Benefiting Hong Leong Bank

Analysts predict that the asset quality of Bank of Chengdu, in which Hong Leong Bank Bhd holds a 19.76% stake, will remain robust due to its strict risk management policies and proactive measures. Key Takeaways: Strong Risk Management Practices : According to CIMB, Bank of Chengdu has adopted a conservative risk culture, performing thorough assessments of location, developer reputation, project viability, and management integrity before financing property projects. The bank closely monitors early warning signals like construction progress, sales progress, budget overruns, and fund usage by developers to mitigate potential risks. Proactive Measures Against Property Slowdown : The bank's precautionary measures allowed it to reduce exposure to problematic property loans and exit risky loans before China's property market slowdown. This conservative approach is expected to benefit Hong Leong Bank by minimizing potential asset quality concerns. Continued Optimism and Buy Recommendat
Post a Comment
Read more

Investors Keep Buying US Junk Debt Despite Weak Protections

  When US-based construction material supplier Wilsonart issued a junk bond to raise US$500 million (RM2.13 billion) for an acquisition this summer, a research firm warned potential investors about the bond's weak protections. The bond’s covenants could allow the company to move valuable assets to another entity and raise more money, potentially disadvantaging bond investors, according to Covenant Review , a research firm. This warning comes amid growing concerns in credit markets as more companies engage in practices like "liability management exercises," where they borrow more against the same assets. These practices, often favoring some creditors over others, have been dubbed "creditor-on-creditor violence," prompting some creditors to unite to protect their interests. Despite the warnings, investors eagerly purchased Wilsonart's offering, underscoring a paradox in US credit markets. While investors face the consequences of weak covenants, they continu
Post a Comment
Read more