RHB Research remains positive on  Kuala Lumpur Kepong Bhd's (KLK) outlook supported by its new Indonesian downstream capacity, classification of refinery earnings and nitrile glove plant. KLK's new Indonesian RM700 million integrated complex was coming onstream in stages with the refinery up by the end of 2022, and the rest by early 2023, RHB Research said. (NST)

VS Industry Bhd's net profit for the third quarter ended April 30, 2022, slipped 30.1% to RM51.29mil from RM73.38mil in the previous corresponding quarter as revenue was impacted by labour and supply shortages. The group reported revenue of RM927.59mil, which was 13.69% lower than RM1.07bil in the year-ago quarter. (The Star)

Sime Darby Property Bhd (SDP) and LOGOS SE Asia Pte Ltd joint venture, SDPLOG has announced the first close of its inaugural Industrial Development Fund, with 70 per cent in capital commitments secured for a fund size of up to US$250 million. The Shariah-compliant fund will be anchored by Permodalan Nasional Bhd and unit trust funds under. (The Star)

Euro Holdings Bhd has proposed to raise some RM20.05 million via a private placement for its general working capital expenses and repayment of bank borrowings. The furniture company will issue up to 160.38 million shares — representing not more than 20% of the total number of issued shares of 801.9 million — to third party investors at an issued share price to be fixed at a later date, it said in a bourse filing on Friday (June 24). (TheEdge)

Senheng New Retail Bhd has earmarked RM74.3 million capital expenditure (capex) this year to increase its market share in the consumer electronics retail sector and expand its retail stores.  Executive chairman Lim Kim Heng said the group was on track to meet its 2022 store launch target to capture more opportunities amid the recovery in consumer spending. (NST)

Yinson Bhd is confident of securing a new project out of the four it is currently targeting, which would go towards its earnings growth prospects. According to RHB Research, the floating production storage and offloading (FPSO)operator is three projects in Angola and one in Suriname. (The Star)

FGV Holdings Bhd (FGV) remains committed to investing and expanding toward a broader range of sustainable and synergised agribusinesses, and aims to move into higher value-added business activities to achieve more stable returns. In a statement today, FGV chairman Datuk Dzulkifli Abd Wahab said FGV aspires to become one of the world’s leading sustainable agribusiness players, with reputable product brands and strong distribution capabilities. (The Star)

Fiamma Holdings Bhd's revenue is expected to decline by 1.5-4.3 per cent for its financial year 2022 (FY22) to FY24, weighed down by lower sales from its trading and services as well as property segment. Affin Hwang Capital said with Malaysia transitioning to an endemic phase coupled with rising cost of living, consumers would spend less on Fiamma's electrical and electronics (E&E) products. (NST)

Sunzen Biotech Bhd expects to post a profit in the fiscal year 2022 (FY2022) on the strength of improved earnings from its loan financing and traditional Chinese medicine (TCM) sectors. Teo Yek Ming, group managing director and chief executive officer, said Sunzen was also progressing in reducing its operating costs and raising the effectiveness of the entire group. (NST)

Supermax Corporation Bhd says it is now aligned to the International Labour Organisation (ILO) standards after taking measures to strengthen its human resources management and migrant workers policies and practices. The group had embarked on its undertaking to meet the ILO standards since 2019 with the introduction of zero cost recruitment fee and was among the first in the industry to do so, it added. (NST)

The public portion of instant beverage premix manufacturer Orgabio Holdings Bhd's initial public offering (IPO) has been oversubscribed by 50.86 times. In a statement, the company said there were a total of 7,562 applications seeking 642.7 million new shares for the 12.39 million new shares made available for public subscription. (The Star)

Top Glove Corp Bhd, the world's largest glove maker by production capacity, clarified on Friday (June 24) that its surgical glove gamma sterilisation facility, nitrile butadiene rubber (NBR) latex plant and glove former factory are all built in house and that the company's planned horizontal integration initiatives are not necessarily achieved through merger and acquisition (M&A) activity only, but also via organic expansion as well. (TheEdge)

RHB Retail Research said UWC Bhd is eyeing a technical breakout as it tries to climb higher again towards the immediate resistance of RM3.23. In a trading stocks note on Friday (June 24), the research house said if the stock manages to breach above that level — forming a “higher high” bullish pattern — the stock may climb further towards the resistance level of RM3.47, namely April 20’s high, followed by RM3.61 or the high of April 14. (TheEdge)

RHB Retail Research said Jentayu Sustainables Bhd is set for a rebound after undergoing a technical breakout on Thursday on stronger trading volume, forming a “higher high” bullish structure above the 21-day average line. In a trading stocks note on Friday (June 24), the research house said the bullish bias above that level may propel the stock towards the 47.5 sen resistance, followed by 50 sen. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star  24 Jun 2022

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