Aneka Jaringan Holdings Bhd’s wholly-owned subsidiary, Aneka Jaringan Sdn Bhd has secured a RM35mil contract from Sena Letrik (M) Sdn Bhd. In a filing with Bursa Malaysia, Aneka said the contract is for piling, earthworks and substructure works for a proposed 31-storey medical centre at Desa Sri Hartamas in Kuala Lumpur. (TheStar)

AMMB Holdings Bhd's (AmBank) net profit for the first quarter ended June 30, 2023 (1QFY2024) dropped 7.8% to RM378.37 million, from RM410.39 million a year ago, as net impairment charges rose due to higher provisions. Thus, earnings per share was lower at 11.44 sen from 12.40 sen, the banking group reported in a Bursa Malaysia filing on Monday (Aug 21). (TheEdge)

MGB Bhd's net profit jumped 25 fold to 12 million in the second quarter ended June 30, 2023 (Q2 2023) versus RM477,000 in Q2 2022 on the back of higher progressive revenue from its construction business. Revenue for the period rose 73. 9 per cent year-on-year (YoY) to RM232.6 million from RM133.75 million in the same period the year prior due to steady contribution from several projects such as Idaman BSP of the Rumah Idaman projects, as well as Kita Mekar and Kita Mesra both under the KITA@Cybersouth township. (NST)

Affin Hwang Capital Research has trimmed CelcomDigi Bhd's earnings per share (eps) estimates after results for the first half of financial year 2023 fell short of expectations. CelcomDigi's net profit grew by 45 per cent year-on-year (YoY) to RM661.44 million on a 106 per cent increase in revenue, driven by the merger with Celcom. (NST)

LGMS Bhd has bagged the Cyber Security Product Innovation of the Year award during the Malaysia Cybersecurity Awards 2023 held with the recent Cyber Digital Services Defence & Security Asia (CyberDSA) 2023. The award was in recognition of the LGMS StarSentry cybersecurity solution, which enables small and medium-sized enterprises (SMEs) to secure their operations securely. (NST)

UMW Holdings Bhd’s automotive sales increased by 47% to 36,780 units for July 2023 from 24,983 units a year earlier, with both UMW Toyota Motor (UMWT) and its associate company Perusahaan Otomobil Kedua Sdn Bhd (Perodua) continuing to deliver vehicles amid encouraging outstanding bookings. In a statement on Monday (Aug 21), the automotive group said UMWT saw its car sales up 26% with 8,349 against 6,637 units in July 2022, while year-to-date (YTD), UMWT registered 57,008 units — an 8% growth compared with the 52,548 units delivered in the corresponding period of 2022. (TheEdge)

Hap Seng Consolidated Bhd saw its share price climb as much as 10.9% to RM3.67 at around 11.35am on Monday (Aug 21), the highest level since May 30, when the stock was on a rather steep downtrend from its year-to-date high of RM7.19 on Jan 31. At press time, the push factor remained unclear, but it is worth noting that the jump came days ahead of the release of the group’s financial results for the second quarter ended June 30, 2023 (2QFY2023), which is estimated to fall on Friday, according to Bloomberg. (TheEdge)

Pestech International Bhd's last ditch effort to convince Malaysia Airports Holdings Bhd (MAHB) to reinstate it as the design and build contractor for the KLIA aerotrain replacement programme fell flat, after the airport operator said it has initiated the process of securing a new contractor. Last Friday, Pestech in a filing with Bursa Malaysia Securities Bhd said, the termination by MAHB's unit was "misconceived and invalid" and warranted legal redress, however it was seeking an amicable resoution and had sent MAHB a formal letter to the effect. (NST)

Four companies, including Tan Sri Syed Mokhtar Al-Bukhary's MMC Corp Bhd and Malaysian Resources Corp Bhd (MRCB), could be in the running for the KLIA aerotrain replacement programme, after Malaysia Airports Holdings Bhd (MAHB) said it plans to invite participants of its previous tender to vie for the job. MAHB told a business weekly that the tender invitation would be extended to other participants of the previous tender, of which Pestech and joint venture partner Bombardier had emerged as winners. (NST)

Mah Sing Group Bhd announced a 90% take-up rate for Tower A of M Nova, a mixed development located in Taman Wahyu, Kuala Lumpur, over the weekend. Due to the good response, Tower B is now open for sale. With an estimated gross development value of approximately RM790 million, M Nova comprises three blocks of serviced residences with three layouts — 700 sq ft (two bedrooms), 850 sq ft (three bedrooms) and 1,000 sq ft (four bedrooms) — priced from RM328,000. The project also comes with 11 units of retail lots and one drive-through retail unit. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 21 August 2023

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