MIDF Research has revised downwards Inari Amertron Bhd's earnings estimates for financial year 2023 (FY23) by three per cent as its earnings for the fourth quarter (Q4) came below expectations. The research firm noted Inari's Q4 normalised earnings fell by 20.7 per cent year-on-year (YoY) to RM69.2 million while revenue declined by seven per cent YoY to RM336.2 million.  (NST)

UEM Sunrise Bhd's proposed divestment of stake in South African firm will allow the company to streamline its operations and focus its resources on developments where it has competence, visibility and presence. UEM Sunrise announced that it was disposing of its 80.4 per cent-owned South African property development firm for RM38 million. (NST)

Malayan Banking Bhd (Maybank) has established its Scope 3 financed emissions baseline and identified a transition strategy that will shape its future business portfolio, the first bank in Malaysia to do so. This brings the bank a step closer to its target of a net zero carbon equivalent position by 2050 as it begins to chart out its financed emissions reduction targets against timelines. (NST)

ACE market-listed LGMS Bhd (LGMS) has plans to expand its regional presence and will set up new offices in Cambodia, Vietnam, and Singapore by the end of 2023, given the increasing demand for cybersecurity products and services. Executive chairman Fong Choong Fook said LGMS is capitalising on current market trends, both locally and regionally, that support its cybersecurity growth strategy. (NST)

Petronas Chemicals Group Bhd's (PetChem) net profit increased 0.5 per cent to RM1.87 billion in the second quarter ended June 30 from RM1.86 billion recorded in the same quarter a year ago. This was despite lower production and sales volume recorded during the quarter, PetChem said today. (NST)

FM Global Logistics Holdings Bhd posted a higher net profit at RM12.56 million for its fourth quarter ended June 30, 2022 (Q4), up 46.4 per cent year-on-year (YoY) from RM8.58 million in Q4 last year. This was driven by increased business activities from both Malaysian and overseas operations. (NST)

Kerjaya Prospek Group Bhd is optimistic about its prospects this year, buoyed by healthy construction activities  as prices of raw materials have started to taper off. Kerjaya chief executive officer and executive director Tee Eng Tiong said raw material prices had started to taper off from the peak in the first half of the year, which was expected to enhance Kerjaya's bottom line. (NST)

SCGM Bhd (SCGM) has received the green light from its shareholders for the disposal of its entire stake in Lee Soon Seng Plastic Industries Sdn Bhd (LSSPI) to Mitsui & Co Ltd and FP Corporation (FPCO) for RM544.38 million. (TheStar)

RHB Retail Research said D&O Green Technologies Bhd attempted to extend its upward trajectory after breaking past the immediate resistance of RM4.16 last Friday. In a trading stocks note on Monday (Aug 22), the research house said the latest bullish breakout indicates that the stock has completed the consolidation phase and set off the uptrend. (TheEdge)

Kenanga Research has maintained "market perform" rating on Pharmaniaga Bhd at 59 sen with a lower target price of 59 sen (from 64 sen) and said Pharmaniaga’s 1HFY22 results disappointed largely due to the weaker-than-expected vaccine sales. (TheEdge)

Hong Leong IB (HLIB) Research has downgraded Sentral REIT to “hold” at RM1.01 with a lower target price (TP) of 91 sen (from 99 sen) and said Sentral REIT recorded 2QFY22 core net profit of RM18.5 million (-9.4% q-o-q; -2.3% y-o-y) and 1HFY22 core net profit of RM38.8 million (-2% y-o-y).(TheEdge)

The share price climb of Cnergenz Bhd, which was listed on the ACE Market on May 24, is gaining momentum. The stock gained more than 12% in early trade to a record-high 99.5 sen after the release of its second quarterly result last week. (TheEdge)

Chemicals group Hextar Global Bhd's net profit in the second quarter ended June 30, 2022 (2QFY22) more than doubled to RM15.3 million from RM7.44 million a year prior, continuing its strong performance for two quarters following the inclusion of its specialty chemicals business.(TheEdge)

Source: New Straits Times, The Edge Markets, The Star 22 Aug 2022

Need a Trading Account?

Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!
 

Contact Us

Please do not hesitate to contact us if you have any inquiries:

Facebook: https://www.facebook.com/mqtrader 
Instagram: https://www.instagram.com/mqtrader 
i3messanger: https://messenger.i3investor.com/m/chatmq 
YouTube: https://www.youtube.com/channel/UCq-26SGjlQTVQfO7DoEihlg 
Email: admin@mqtrader.com 
Contact Number: +60128058077 
 

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.