Top Glove Corp Bhd reported a net loss of RM164.67 million in the second quarter (Q2) ended February 28, 2023, from a net profit of RM87.55 million last year. For Q2 2023, Top Glove's results were largely flattish compared to Q1 2023, with lower revenue of RM618.01 million from RM1.48 billion previously. On a half-yearly basis, Top Glove registered a net loss of RM332.90 million from RM273.27 million, while revenue fell to RM1.25 billion from RM3.09 billion last year. (NST)

Scientex Bhd will continue to have solid long-term prospects backed by a steady demand for affordable housing and its leading position in the plastic packaging segment. RHB Research said that in the coming quarters, Scientex might see its packaging segment's revenue growth being dragged mainly by the industrial packaging segment in light of waning global demand. It said that consumer plastic packaging sales are also expected to remain robust. (NST)

Haily Group Bhd (HGB) has secured a RM32.66 million construction contract from Nice Frontier Sdn Bhd (NFSB), a member of IOI Properties Group Bhd, to build 186 residential units for the Bandar Putra township within Iskandar Malaysia. This contract, which is the third job clinched by HGB this year, brings the total contract value of its ongoing projects to RM657.87 million. (NST)

Able Global Bhd announced its single tier fourth interim dividend of one sen per share for its financial year ended Dec 31, 2022 (FY2022), to be paid on April 10. Its ex-date is on March 29 and the entitlement date is on March 30, said the group in its filing. This brings total dividend per share to four sen for FY2022. (TheEdge)

The High Court here has refused to grant a permanent stay of a winding up petition against Serba Dinamik Holdings Bhd (SDHB) and its three subsidiaries, pending its appeal to the Court of Appeal. Judge Ahmad Murad Abdul Aziz in his decision on Thursday (March 16) said having read the affidavits and considering the submissions made, the companies failed to prove there are special circumstances for the court to grant the stay of the winding-up order on Jan 10, pending their appeal. (TheEdge)

Kobay Technology Bhd expects the issues of incubation stages for its two new projects – the electronic manufacturing system (EMS) and solar panels – to be resolved soon. This would impact positively on the group’s manufacturing division which has incurred pre-operational costs of RM6mil over the past two quarters, it said. The slowdown of the semiconductor market and softened new orders had also held down its manufacturing division despite the healthy outlooks for the aerospace and oil and gas divisions. (TheStar)

LGMS Bhd is planning to deploy its Payment Card Industry (PCI) Compliance Wizard (Wizard) platform globally to further strengthen the security of e-payments for consumers and businesses worldwide. The solution ensures that merchants are in compliance with the PCI Data Security Standard (PCI DSS), an information security standard used to handle credit card transactions from major card brands, formed in 2004 by Visa, MasterCard, Discover Financial Services, JCB International and American Express. (TheEdge)

Gabungan AQRS Bhd’s outlook remains resilient as the group will be busy with its ongoing projects in the coming years, well buffered by the downside risks from the public infrastructure space, says RHB Research. Post-visit to Gabungan AQRS’ light rail transit three (LRT3) project site, the research house said it came away feeling positive in its outlook for the construction and engineering group. (TheStar)

ACE Market of Bursa Malaysia debutant Oppstar Bhd is projected to register a 13.4 per cent and 46.6 per cent growth in net earnings for the financial year 2023 (FY2023) and FY2024, respectively, said Rakuten Trade Sdn Bhd. In a note today, the research firm said that the expected net earnings growth of the integrated circuit (IC) design service provider is backed by its order book of RM34.3 million as at end-January 2023. (NST)

Fraser & Neave Holdings Bhd’s (F&N) extended rights as the manufacturer and distributor of Nestle’s Bear Brand sterilised milk in Cambodia bodes well for the company’s long-term growth. According to MIDF Research, the contract extension with Nestle would broaden F&N’s geographical footprint, thereby mitigating downside risk. (TheStar)

Focus Point Holdings Bhd's positive results will likely continue in the near future, backed by its aggressive brand equity and store expansion. Hong Leong Investment Bank Bhd (HLIB Research) said another pocket of opportunity for Focus Point with the reopening of China borders could spur the tourist momentum, especially in the branded sunglasses segment. (NST)

Source: New Straits Times, The Edge Markets, The Star 16 Mar 2023

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