MQ Market Updates

MQ Market Updates - 29 August 2023

MQ Trader
Publish date: Tue, 29 Aug 2023, 05:23 PM

Public Bank Bhd, which registered an earnings boost in the first half of 2023 on the back of healthy loans and deposits growth, continues to see positive prospects for the country's banking sector. (TheStar)

Senheng New Retail Bhd expects weaker financial performance in the second half of this year after reporting a 59.43% fall in its net profit for the second quarter ended June 30, 2023 (2QFY2023). (TheEdge)

Axiata Group Bhd's net loss widened to RM576.21 million in the second quarter ended June 30, 2023 (2Q23) from RM106.38 million a year ago. (NST)

Alliance Bank Malaysia Bhd continues to focus on the eight Acceler8 growth pillars to build momentum and deliver value to stakeholders through strong finances, great customer service, and solid ESG progress, according to group chief executive officer Kellee Kam. (TheStar)

UEM Edgenta Berhad (UEM Edgenta), the region’s leading Asset Management and Infrastructure solutions company, has announced a 15.6% increase in net profit to RM23.4mil in the six months ended June 30 following a higher revenue of RM1.35bil (RM1.17bil 1H FY2022). (TheStar)

Destini Bhd yesterday announced that its managing director Datuk Mohd Zahir Zahur Hussain has resigned from the job "to pursue personal interest and other commitment". (NST)

RGB International Bhd's shares were the most actively traded in the first hour of trading after it refuted claims of providing political funding during GE15 in a filing with Bursa Securities yesterday. (NST)

TH Plantations Bhd (THP) reported a net profit of RM18.8 million for its first half ended June 30, 2023 (1HFY2023) financial results, against RM36.5 million in the previous corresponding period.  (NST)

UMW Holdings Bhd’s net profit almost tripled to RM303.55 million in the second quarter ended June 30, 2023 (2Q 2023) from RM107.19 million in 2Q 2022 on the back of gains from the sale of an industrial land in Serendah. (TheStar)

RHB Bank Bhd remains cognisant of downside risks to the economy even as it reported another quarter of positive growth in 2023, amid a challenging operating landscape. (TheStar)

The slowdown in demand in Power Root Bhd's domestic and Middle East markets is likely to continue as the macro headwinds persist while elevated raw material prices narrow margins. (TheStar)

OSK Holdings Bhd's net profit rose 23% year-on-year to RM131.04 million for the second quarter ended June 30, 2023 (2QFY2023), from RM105.75 million a year earlier, underpinned by improved operational efficiencies and stronger demand for the group’s products and services. (TheEdge)

A wider-than-expected share of losses in Sime Darby Property Bhd’s Battersea Power Station (BPS) joint venture (JV) is a cause for concern among analysts, based on the group’s financial results for the second quarter ended June 30, 2023 (2QFY2023). (TheEdge)

Hengyuan Refining Co Bhd posted a net loss of RM95.51 million for its second quarter ended June 30, 2023 (2QFY2023), marking the group's fourth straight loss-making quarter, as revenue fell on lower sales volume and prices, with a steep drop in the crack prices of its main products. (TheEdge)

Ecobuilt Holdings Bhd is partnering TJ Civil & Structural Contractor Sdn Bhd (TJCS) to jointly build a 24-storey police office building in Kuala Lumpur for a contract sum of RM148.04 million. (TheEdge)

PMB Technology Bhd, a downstream aluminium products supplier that counts Press Metal Aluminium Holdings Bhd as its largest shareholder, reported a 93.6% fall in its net profit for the second quarter ended June 30, 2023 (2QFY2023), as revenue fell on lower contribution from its metallic silicon plant due to a drop in selling price and tonnage sold. (TheEdge)


Source: New Straits Times, The Edge Markets, The Star 29 August 2023

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