Construction products supplier Ajiya Bhd's net profit rose 75.1 per cent to RM10.0 million in the second quarter (Q2) ended May 31, 2022, from RM5.71 million a year ago. However, the company's revenue fell 4.0 per cent to RM77.44 million in Q2 2022 from RM80.67 million last year due to lower demand for the company's products locally and overseas. (NST)

MHC Plantations Bhd's net profit rose 80 per cent to RM16.31 million for the second quarter (Q2) ended June 30, 2022, from RM9.07 million a year ago. The company's revenue also increased 30.05 per cent to RM180.79 million from RM139.01 million last year. The higher earnings were mainly due to the higher average selling prices of crude palm oil (CPO), palm kernel, fresh fruit bunches and empty fruit bunches oil by 59 per cent, 39 per cent, 57 per cent and 34 per cent, respectively, it said. (NST)

NWP Holdings Bhd's wholly-owned subsidiary NWP Marine Sdn Bhd (NMSB) today signed a joint venture agreement with OneOne Auro Marine Sdn Bhd (OOA Marine) to undertake marine contractor works across the country. The contract is to dredge, transport, and load marine sand from the concession area onto mother vessels for export purposes and to local sites for reclamation purposes. (NST)

MGB Bhd, via its unit MGB Construction & Engineering Sdn Bhd, has won a RM225.03mil contract to build two 29-storey commercial service apartments towers in Bandar Putra Permai, Seri Kembangan. In a filing with Bursa Malaysia yesterday, MGB said MGB Construction had accepted a letter of award from Akitek AKIPRIMA Sdn Bhd, on behalf of Utuh Aspirasi Sdn Bhd (UASB). (TheStar)

UMW Toyota Motor Sdn Bhd and UMW Holdings Bhd are committed to achieving carbon neutrality by 2050 through activities that offset carbon dioxide (CO2) emissions. In a statement on Monday, director of customer first group Faraed Mohd Sharif said the initiatives, notably planting close to 40,000 trees to date to reach their commitment of planting some 300,000 trees over the next two years, contribute to climate resilience while cementing Toyota’s global commitment towards achieving carbon neutrality within 28 years. (TheEdge)

TIME dotCom Bhd subsidiary (TIME) AVM Cloud Sdn Bhd (AVM Cloud) is emphasising business continuity for more local organisations to transition to cloud computing operational models. AVM Cloud chief technology officer Kenny Lim said effective business continuity plans enable organisations to react quickly and efficiently in case of unpredictable events. (NST)

Genting Plantations Bhd is projected to sustain strong earnings momentum in the quarters ahead, underpinned by the increase in the mature age profile of its estates that will boost production levels and higher average selling price (ASP) of crude palm oil (CPO) and help offset higher input costs. MIDF Research said Genting Plantations more mature acreage profile in Malaysia and Indonesia will enable the planter to ramp up production to 2.3 million tonnes of fresh fruit bunches (FFB) per hectare (ha). (TheStar)

Eastland Equity Bhd has changed its name to Meta Bright Group Bhd, effective Thursday, July 28. In a Bursa Malaysia filing on Tuesday (July 26), the group said its shares will be traded and quoted under the new name, with effect from 9am on Thursday, and under a new stock short name, “MBRIGHT”. (TheEdge)

TA Securities Research expects Hong Leong Bank Bhd (HLBB) to report stellar results for the financial year ended June 30, 2022 (FY22). In a note on Tuesday (July 26), the research house forecast that the bank's results improved in the fourth quarter due to faster loan growth, which TA believes will outperform the industry and exceed the bank management's forecast of 6% to 7%. (TheEdge)

The disposal of Affin Bank Bhd's 63 per cent stake in asset management unit Affin Hwang Asset Management (AHAM) will help to fuel the group's key banking division endeavours, Kenanga Research said. The firm said the sale of AHAM which would unlock RM1.54 billion in cash, would elevate Affin Bank's common equity Tier-1 (CET1) levels to 16 per cent from 13.7 per cent. (NST)

UMediC Group Bhd opened 18 sen or 56.25% higher than its initial public offering price on its debut on the ACE Market of Bursa Malaysia. On the back of strong buying interest, the stock was the top traded counter on the market with an opening volume of 11.14 million shares. (TheStar)

Shares in Bintai Kinden Corp Bhd rose as much as 9.09% in the mid-morning on Tuesday (July 26), after it inked a memorandum of understanding with Medical Renewable Care Company under the trade name Nouveta to explore a collaboration providing mechanical and engineering solutions and services to the healthcare industry of Saudi Arabia. (TheEdge)

Chin Hin Group Bhd shares hit a new record high of RM4.51 on Tuesday (July 26) morning, ahead of the group's upcoming extraordinary general meeting on Aug 4 over the proposed sale of a 19.34% stake in Solarvest Holdings Bhd, as well as a one-for-one bonus issue. The stock rose 12 sen or 2.73% from its previous close of RM4.39. (TheEdge)

RHB Retail Research said Kumpulan Jetson Bhd is poised for an uptrend rebound as it is in the process of consolidating sideways following a recent rebound – hitting the 21-day average line. In a trading stocks note today, the research house said if the stock manages to move past the immediate resistance of 26 sen – last Thursday’s high – the bulls are expected to propel the stock towards the next resistance at 30.5 sen before heading towards the 32 sen strong resistance, ie the high of June 8. (TheEdge)

RHB Retail Research said Global Oriental Bhd is set to rebound higher as it experienced a technical breakout yesterday – surpassing the 31 sen resistance level on improved trading volumes and forming a “higher high” bullish structure. In a trading stocks note today, the research house said if the breakout sustains, the bullish bias may propel the stock towards the 34 sen next resistance or July 5’s high. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 26 Jul 2022

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