MQ Market Updates - 25 April 2023

MQ Trader

Publish date: Tue, 25 Apr 2023, 06:51 PM

Gamuda Bhd has announced the resignation of Mohammed Rashdan Mohd Yusof as deputy group managing director effective today. In a statement, Gamuda said Rashdan, 52, had relinquished all directorships and is currently serving notice, with his last day at the company to be June 30. Gamuda said Rashdan's departure from the company is to focus his attention and effort on serving his national duty. (NST)

Construction player Aneka Jaringan Holdings Bhd (AJHB) will focus on growing the capacity of its Indonesian subsidiary PT Aneka Jaringan Indonesia (PTAJI) and also push its renewable energy venture in the country as a new source of revenue. Managing director Pang Tse Fui said the company has ventured into Indonesia's renewable energy market through PT Sam Anergi Indonesia, a joint venture (JV) between AJHB and Samaiden Group Bhd (SGB). (NST)

NWP Holdings Bhd (NHB) net loss narrowed to RM95,000 in the fourth quarter (Q4) of the financial year that ended February 28, 2023 (FY23) from a net loss of RM9.1 million a year ago, underpinned by cost savings from the termination of a lease and lower financing costs. However, revenue for the quarter was down by 41 per cent to RM481,000 from RM818,000 for the corresponding quarter a year ago, mainly due to lower overseas timber sales due to lower demand. (NST)

Pavilion Real Estate Investment Trust's (Pavilion REIT) first quarter (Q1) of 2023 (FY23) core net profit of RM70 million came within Hong Leong Investment Bank Bhd's (HLIB Research) expectations and consensus expectations. In a note today, the bank-backed research firm said it remains upbeat on Pavilion REIT's performance in FY23, given that the reopening of China's border will further bolster the already sturdy footfall. (NST)

Lebtech Bhd's wholly owned subsidiary Lebtech Construction Sdn Bhd has accepted a contract from Vista infinity Development Sdn Bhd for dredging, reclamation, shore protection and revetment works in Kampung Tanjung Batu Nenasi in Pahang. It said the job was in relation to the beach erosion mitigation project in the area. (TheStar)

Unifi Business, the business solutions segment of Telekom Malaysia Bhd’s (TM) converged Unifi arm, continued facilitating greater connectivity and digitalisation by serving close to 400,000 micro, small and medium enterprises (MSMEs) nationwide. Unifi Business offers connectivity services for data and internet, mobile, and voice, as well as digital solutions such as its e-commerce hub, cloud storage and cybersecurity solutions. (TheEdge)

Shares in KUB Malaysia Bhd rose more than 9% to a four-month high in early trade on Tuesday (April 25). At the time of writing, KUB was up 9.90% at 55.5 sen a share, with 1.56 million shares traded. The stock earlier rose to a high of 57 sen, the most since Dec 7, 2022. (TheEdge)

PRG Holdings Bhd has appointed Datin Arlina Ariff as its independent and non-executive director, effective April 20, 2023. Arlina has over 25 years of extensive experience in the banking, finance, and economics industries, as stated in a filing with Bursa Malaysia. She served in Bank Negara Malaysia (BNM) for 22 years, from September 2000 to July 2022. (NST)

Public Investment Bank Bhd (PublicInvest) is positive on the recent contract secured by Cypark Resources Bhd from Selgate Corporation Sdn Bhd. The contract was for the execution and completion of the remaining works for the construction of a 10-storey private hospital together with a six-storey parking lot in Rawang, Selangor. The contract is worth RM108.8 million for a duration of nine months. (NST)

Source: New Straits Times, The Edge Markets, The Star 25 Apr 2023