Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Post a Comment

Key Corporate Updates from Malaysia



1. Khazanah-EPF Launches RM11 per Share Takeover for MAHB

A Khazanah Nasional-EPF consortium has made a formal RM11 per share offer to acquire Malaysia Airports Holdings Bhd (MAHB), representing a 6% premium over its last traded price of RM10.34. The offer values MAHB at RM18.4 billion after securing regulatory approvals.

2. Kossan Declares 8 Sen Dividend Despite Profit Drop
Kossan Rubber Industries reported a 28.15% drop in net profit for 3QFY2024 due to higher raw material costs and forex losses. However, revenue increased 25.75% to RM507.39 million, and the company declared an 8 sen dividend for shareholders, including a special 6 sen dividend.

3. Malaysia Smelting Corp Declares Highest Dividend Since 2011
Malaysia Smelting Corporation Bhd (MSC) announced a 24 sen dividend, comprising a 17 sen special dividend and a 7 sen interim dividend. 3QFY2024 net profit rose 20.88% to RM14.29 million, driven by higher tin sales and prices.

4. Ge-Shen Posts 46% Rise in Net Profit
Contract manufacturer Ge-Shen Corp’s 3QFY2024 net profit surged 46% to RM3.13 million, supported by contributions from existing plants and a newly acquired subsidiary in Kedah. Revenue grew 3.5% to RM67.85 million, signaling confidence in sustained growth.

5. Prolintas Infra Faces No Financial Loss in RM46 Million Arbitration Case
Prolintas Infra assured stakeholders it will not incur losses from the RM46.13 million arbitration payment, as its trustee manager is indemnified by the major unitholder, Projek Lintasan Kota Holdings.

6. Farm Price Scraps Bonus Warrants Plan
Farm Price Holdings canceled its recently announced one-for-two bonus warrants issuance and plans to revisit it in 2025. The company did not elaborate on the decision.

7. Citaglobal to Build Solar Plant in Azerbaijan
Citaglobal signed an agreement to construct a 5.4MW solar plant with battery storage at the Port of Baku in Azerbaijan under a 21-year power purchase agreement. Project value and timeline remain undisclosed.

8. Petra Energy Secures Offshore Crane Operations Contract
Petra Energy Bhd was awarded a four-year contract by Sarawak Shell and Sabah Shell Petroleum for offshore crane operations and maintenance services. The contract’s value was not disclosed.

9. Sunsuria Acquires Stake in Kampung Baru Development
Sunsuria Bhd is purchasing a 20% stake in KL City Gateway for RM10.47 million, with plans to inject RM40 million into developing a 9.66-acre site in Kampung Baru, Kuala Lumpur. The mixed-use development project has a gross development value of RM2.68 billion.

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

3M Raises Profit Forecast After Beating Quarterly Estimates on Electronics Demand

3M Co raised the lower end of its full-year adjusted profit forecast after strong demand for electronics and industrial products helped the company surpass quarterly profit expectations. Shares of 3M were up 4.2% at $140.5 in pre-market trading. An increase in demand for electronics used in vehicles and mobile phones boosted profits for the company, which had previously faced challenges as high inflation led consumers to delay major purchases. The industrial sector is also expected to benefit from the recent US Federal Reserve decision to cut borrowing costs in September, encouraging more consumer spending. 3M has implemented cost-cutting measures, including job reductions and spinning off its healthcare business, to counter the impact of a demand slowdown . Key highlights from the report: Sales in the transportation and electronics segment grew 1.8% year-on-year. Sales in the safety and industrial segment , which produces adhesives for industrial use, increased by 0.5% . 3M&
Post a Comment
Read more

Key Corporate Updates from Malaysia

Ekovest Bhd : Major shareholder Tan Sri Lim Kang Hoo is considering selling his toll-road business, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi), for up to RM5 billion. Ekovest owns 60% of Kesturi, with the remainder held by the Employees Provident Fund (EPF). Eco World Development Group Bhd : Through its subsidiary Mutiara Balau Sdn Bhd, EcoWorld is acquiring 847.25 acres in Semenyih, Selangor for RM742.41 million to develop Eco Forest 2, a project with an estimated RM4.6 billion in gross development value. Mah Sing Group Bhd : Mah Sing has purchased 5.24 acres on Old Klang Road for RM113 million to build M Aurora, a transit-oriented development with an estimated RM660 million gross development value, anticipated for launch in early 2025. Pentamaster Corp Bhd : The company’s third-quarter net profit dropped 49.9% to RM11.77 million, impacted by lower sales in its automated test equipment division and foreign exchange losses. Sentral REIT : The REIT saw a 25
Post a Comment
Read more