Pharmaniaga Bhd's net profit plunged 94.7 per cent to RM722,000 in the second quarter (Q2) ended June 30, 2022, from the RM13.7 million recorded in the same quarter last year. Revenue in Q2 decreased 35.3 per cent to RM761.1 million from RM1.18 billion. In a filing to Bursa Malaysia today, the pharmaceutical company said it reported lower sales from its non-concession segment due to delayed orders from the Ministry of Health on products under the tender business. (NST)
TCS Group Holdings Bhd's wholly-owned subsidiary, TCS Construction Sdn Bhd, has secured a RM108.38 million contract from IOI City Hotel Sdn Bhd. In a statement today, TCS said the contract is for the construction and completion of one block of 19-storey main building works from the ground floor to the roof of the Moxy Putrajaya hotel. (NST)
ELK-Desa Resources Bhd recorded a higher net profit for the first quarter ended June 30, 2022 (Q1) at RM17.59 million, up 254.2 per cent year-on-year (YoY) from RM4.97 million in the same period last year. Revenue was up by 24.2 per cent YoY to RM39 million from RM31.37 million last year due to higher contributions for both its hire purchase and furniture segments. (NST)
Underground utilities and substation engineering specialist MN Holdings Bhd (MNHB) has secured two underground utilities contracts worth RM10.5 million in Kedah and Kuala Lumpur. The company's wholly-owned subsidiary, Mutu Nusantara Sdn Bhd (MNSB), has accepted a letter of award (LoA) from Orasko Sdn Bhd, appointing it to be the subcontractor to provide horizontal directional drilling (HDD) and open-cut construction works for RM8.1 million. (NST)
Sentral Real Estate Investment Trust's (REIT) net property income for the second quarter ended June 30, 2022 (2QFY22) slipped 3.8% to RM27.94 million, from RM29.04 million a year earlier, on lower revenue. Earnings per unit decreased to 1.72 sen from 2.11 sen, the REIT said in a filing with Bursa Malaysia. (TheEdge)
S P Setia Bhd has secured total sales of RM1.67bil for the six months ended June 30, 2022 with pre-tax profit and revenue standing at RM253.4mil and RM1.89bil respectively. In a statement yesterday, the property developer said sales were mainly derived from local projects, which contributed RM1.38bil or 83% of total sales. (TheStar)
A water tariff hike in Johor for non-domestic users may double Ranhill Utilities Bhd (RUB) net profit for the financial year 2023 (FY23). Maybank Investment Bank noted that Ranhill Syarikat Air Johor Sdn Bhd (RSAJ) is Johor's exclusive water source-to-tap operator and the main earnings contributor to Ranhill. (NST)
Kejuruteraan Asastera Bhd (KAB) is expanding its sustainable energy solutions (SES) segment with the acquisition of Matahari Suria Sdn Bhd (MSSB). KAB’s subsidiary KAB Energy Holdings Sdn Bhd signed a share sale agreement with Unique Forging & Components Sdn Bhd to acquire the entire equity of MSSB for a total purchase consideration of RM5.3mil. (TheStar)
Yinson Holdings Bhd’s unit Yinson GreenTech (YGT), through its wholly-owned subsidiary Yinson Green Technologies (M) Sdn Bhd, is partnering with Cyberview Sdn Bhd to develop a smart mobility ecosystem in Cyberjaya. In a statement yesterday, YGT said under a memorandum of understanding, both parties aim to collaborate to implement smart mobility technologies such as electrification of vehicles, autonomous vehicles, mobility-as-a-service and intelligent transport systems in Cyberjaya. (TheStar)
Dialog Group Bhd will actively look for opportunities to increase its development and production services and assets, while incorporating new technologies to manage greenhouse gas emissions. In a filing with Bursa Malaysia, the company said its net profit was lower at RM118.25mil in the fourth quarter ended June 30, against RM138.54mil a year earlier. Revenue, however, jumped 29.4% to RM675.65mil from RM522.14mil last year. (TheStar)
Sunway Real Estate Investment Trust (Sunway-REIT) is maintaining an optimistic outlook for 2022, underpinned by strong growth in its retail segment. In a filing with Bursa Malaysia yesterday, the company said the outlook was further supported by gradual recovery in the hotel segment, new income contribution from the new wing of the Sunway Carnival Mall and resumption of income contribution from the phased re-opening of Sunway Resort. (TheStar)
KNM Group Bhd on Friday (Aug 19) postponed until further notice an extraordinary general meeting (EGM) that was scheduled for Aug 22 to seek shareholders' approval for the planned €220.8 million (RM997.16 million) sale of its entire stake in Borsig GmbH, a German-based process equipment manufacturer. (TheEdge)
The foreign shareholding in Sime Darby Plantation Bhd rose to the highest in about three years at 10.75% as of July 29, 2022, from 10.68% a month earlier, according to the latest updates on the company’s website. The lowest foreign shareholding on record was 8.94% as registered in July 2021 and again in January 2022, according to the company's chart, which dates back to December 2017. (TheEdge)
Heineken Malaysia Bhd was recognised as Company of the Year for Environmental Sustainability and Social Initiatives at the Sustainability and CSR Malaysia Awards recently. The brewer also received the Long-Standing Excellence in Sustainability Award, in recognition of its continued sustainability commitment. (TheEdge)
Analysts are mixed over Kuala Lumpur Kepong Bhd’s (KLK) fourth quarter (4Q) outlook, as the company could see higher sales from its plantation segment as well as weaker product prices. RHB Research expects KLK to record improvements in sales volumes in 4Q due to the upliftment of the export ban in Indonesia and inventory normalisation. (TheStar)
MISC Bhd’s prospects are expected to remain solid, as the near-term outlook for the petroleum tanker market is positive, with continuing growth in global oil demand and supply, said RHB Investment Bank Bhd. (TheEdge)
Shares in JAKS Resources Bhd jumped 9.09% in active trade on Friday morning (Aug 19), following a positive technical outlook on the stock. At 9.40am, JAKS was up 2.5 sen to 30 sen, with 15.49 million shares traded. RHB Retail Research said JAKS is attempting to stage a bullish breakout. (TheEdge)
RHB Retail Research said PCCS Group Bhd is eyeing another leg on the upside, after breaking past the 61 sen immediate resistance level. In a trading stocks note on Friday (Aug 19), the research house said that trading volume has increased, showing strong bullish momentum. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 19 Aug 2022
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