MQ Market Updates

MQ Market Updates - 27 April 2023

MQ Trader
Publish date: Thu, 27 Apr 2023, 05:25 PM

Gadang Holdings Bhd registered a net loss of RM4.96 million for the third quarter (Q3) ended on February 28, 2023, from a net profit of RM5.45 million a year ago. The construction engineering company said the net loss in earnings was primarily due to a one-off impairment loss on goodwill of RM5.90 million in the current quarter and a lower profit margin for certain ongoing projects. (NST)

Genting Malaysia Bhd (GenM) expects to realise an estimated gain on disposal of US$967 million (RM4.289 billion) from the disposal of four parcels of land in Miami measuring 15.47 acres (Miami Herald land) for US$1.225 billion. (TheEdge)

Radium Development Bhd (Radium), a Kuala Lumpur-centric property developer, has launched its prospectus today in conjunction with its proposed May 31 listing on Bursa Malaysia’s Main Market. (TheStar)

Sarawak Cable Bhd (SCB) has registered a net loss of RM14.16 million in the third quarter (Q3) ended February 28, 2023 (FY23), on the back of RM130.54 million. The company has changed its financial year end from December 31 to May 31, hence, there are no comparative figures available for the preceding year's corresponding period ended February 28, 2022. (NST)

Unisem (M) Bhd said it remains optimistic of an improved performance in the next financial quarter following a plunge in net profit and revenue in the first three months of the year. (TheStar)

Hektar Asset Management Sdn Bhd (Hektar), the manager for Hektar Real Estate Investment Trust (Hektar Reit), has adopted a cautious outlook on the Reit sector's growth this year due to inflationary pressure and an uncertain global outlook that might affect domestic economic activities. (NST)

Teladan Setia Group Bhd has collaborated with Micro Energy Holdings (M) Sdn Bhd to offer solar-ready homes in building a sustainable township. (NST)

Kejuruteraan Asastera Bhd's (KAB) wholly-owned subsidiary KAB Energy Holdings Sdn Bhd has got the nod from shareholders for the proposed acquisition of a mini hydropower plant in Indonesia. (TheStar)

Luxchem Corp Bhd's net profit for the first quarter (Q1) ended March 31, 2023 (FY23) fell 53.4 per cent to RM7.5 million from RM16.09 million a year ago, mainly due to its trading and manufacturing segments. (NST)

Digital and telecommunications conglomerate, Axiata Group Bhd aims to achieve mid single-digit revenue growth and high single-digit growth in earnings before interest and taxes (EBIT) for 2023. (TheStar)

Mitsui & Co Ltd. (Mitsui) of Japan is forming a strategic partnership with ACE-listed LGMS Bhd (LGMS) to broaden the latter's footprint throughout the Asia-Pacific region. (NST)

Data management solutions firm Kronologi Asia Bhd has proposed a one-for-five bonus issue of shares, as well as a bonus issue of one warrant for every five existing shares. (TheEdge)

Capital A Bhd registered strong passenger traffic of 13.2 million in the first financial quarter ended March 31, 2023 (1QFY2023), representing a 153% year-on-year (y-o-y) rise, and an 11% quarter-on-quarter (q-o-q) growth, due to increased operating aircraft and robust travel demand. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 27 Apr 2023

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