Scientex Packaging (Ayer Keroh) Bhd's net profit in its third-quarter (Q3) April 30, 2022 (FY22) marginally increased by 0.5 percent year-on-year (YoY) to RM10.31 million from RM10.26 million in Q3 FY21, due to increase in raw material costs and freight costs caused by the global supply chain. Revenue came in 38.2 percent higher at RM207.43 million compared to RM150.12 million in Q3 FY21, contributed by higher demand in both domestic and export sales. (NST)
Malaysian Resources Corp Bhd (MRCB) has launched Ipoh Raya Integrated Park, a first-of-its-kind bespoke six-phased sustainable integrated logistics park in Perak. This one-stop integrated development, envisioned by MRCB, will be led by its property division, MRCB Land. (NST)
CGS-CIMB estimated a slower-than-expected recovery for Malaysia Airport Holdings Bhd (MAHB) due to the risks to travel arising from China's firm zero-Covid policy, cost-of-living inflation affecting spending power. The research house has analyzed forward airline schedules to assess seat capacity for the rest of 2022 and derive bottom-up estimates of passenger traffic for 2022 forecasts. (NST)
Pharmaniaga Bhd's long-term objectives remain unchanged, as the company sees no disruption in active pharmaceutical ingredients (API) supplies due to the Shanghai lockdown and the ongoing Russian-Ukraine war. Hong Leong Investment Bank (HLIB Research) said that despite APIs being mostly imported, Pharmaniaga has yet to see any disruption in terms of supply and costs so far. (NST)
Kerjaya Prospek Group Bhd's (KPG) framework agreement with Samsung C&T (KL) Sdn Bhd is a positive step for the company to widen its wings to more sophisticated projects compared to current projects that are mainly related to property. RHB Research said the framework agreement would enable KPG to leverage the international expertise and strengths of Samsung C&T. (NST)
PRG Holdings Bhd's 54.19 percent-owned subsidiary, Furniweb Holdings Ltd has entered into a conditional share sale agreement with Energy Solution Global Ltd (ESGL) to acquire its remaining 62.75 per cent equity interest for RM31.42 million. In a filing with Bursa Malaysia today, PRG, which is involved in the manufacturing of webbings, furniture components and the property sector, said the purchase consideration shall be satisfied through cash and the issuance of new ordinary shares in Furniweb. (NST)
S P Setia Bhd has clinched two gold awards at the International Real Estate Federation (FIABCI) World Prix d’Excellence Awards 2022 held on June 9 in Paris, France. This year's win makes S P Setia the Malaysian developer with the most FIABCI World Gold awards, with 15 under its belt. (TheEdge)
AirAsia Aviation Group Ltd (AAAGL), the aviation arm of Capital A Group, has reaffirmed its commitment to resolve all refund requests caused by the ongoing effects of the pandemic as soon as possible. AAAGL airlines, in a statement on Friday (June 10), said they have already finalised over 99% of all customer queries and will work towards progressively settling the final 0.8% in the coming months. (TheEdge)
PublicInvest Research said RGT Bhd is potentially staging a breakout from sideways channel. In a trading ideas note on Friday (June 10), the research house said should immediate resistance level of 43 sen be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of 46 sen. (TheEdge)
RHB Retail Research said Capitaland Malaysia Trust is in the process of consolidating sideways above the 21-day average line, with improved trading volume seen on Thursday (June 9) – forming a “higher low” bullish pattern. In a trading stocks note on Friday, the research house said if the counter manages to break out above the 60 sen resistance level, it is expected to climb further towards 62 sen, followed by the next resistance at 63.5 sen. (TheEdge)
RHB Retail Research said Axis REIT is set to reclaim its historical high after rebounding above the previous breakout level of RM1.92 following the recent pullback – firming up its bullish bias above the breakout level. In a trading stocks note on Friday (June 10), the research house said if positive momentum above this level persists, it may drive the stock towards the RM2.07 historical high, followed by a new high of RM2.10. (TheEdge)
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