MQ Market Updates - 30 August 2023

MQ Trader

Publish date: Wed, 30 Aug 2023, 05:17 PM

Capital A Bhd posted a net profit of RM1.12 billion for the second quarter ended June 30, 2023 (2QFY2023), compared with a net loss of RM931.22 million a year earlier, thanks to the strong recovery in demand from both domestic and international travel. (TheEdge)

Malayan Banking Bhd (Maybank) registered a strong growth for the first half of the year with its net profit increasing by 26 per cent year-on-year (YoY) to RM4.60 billion from the previous. (NST)

Hong Leong Bank Bhd's (HLBB) net profit increased by 16.1 per cent year-on-year (YoY) to RM3.8 billion in the financial year ended June 30, 2023 (FY23) on the back of sustained non-interest income and continued financing expansion. (NST)

Analysts appear to have turned cautious on the outlook for regional telecommunications group Axiata Group Bhd, as its recent weaker-than-expected quarterly results prompted concerns over challenges it faces in some frontier markets, while the management is busy balancing a stretched balance sheet from tipping over. (TheEdge)

While the escalating costs of dairy raw materials have taken a bite out of Farm Fresh Bhd's bottomline, the dairy producer said it was optimistic over its growing revenue and market share. (TheStar)

PLS Plantations Bhd's net loss widens to RM31.90 million for the fourth quarter (Q4) ended June 30, 2023 (FY23) from RM417,000 posted in the same quarter last year. (NST)

Engineering solutions provider Kobay Technology Bhd (KTB) posted a net profit of RM0.6 million for the fourth quarter (Q4) ended June 30, 2023 (FY23), lower than the RM12.02 million posted in the same quarter last year. (NST)

Media Prima Bhd posted a net profit of RM64.63 million for the 18 months under period ended June 30, 2023 on the back of a challenging business environment and softer advertising market conditions. (NST)

Ekovest Bhd has proposed a private placement of up to 269.58 million shares or 10% of the total number of its issued shares, which will help to raise funds for the construction of the Rapid Transit System (RTS) Link project. (TheStar)

Malaysia Building Society Bhd (MBSB) is taking various initiatives which include improving our cost of funds via increasing CASA (current account savings account) deposits to remain competitive in terms of pricing. (TheStar)

Kinergy Advancement Bhd's (KAB) wholly-owned subsidiary KAB Energy Holdings Bhd has completed the transfer of all the shares in PT Inpola Mitra Elektrindo, which owns a mini-hydropower plant, from the vendors to KAB Energy. (TheStar)

MST Golf Group Bhd is exploring a partnership with PT Sinar Eka Selaras Tbk (SES), also known as Erajaya Active Lifestyle, to establish a joint venture named PT MST Golf Indonesia (MGI) in Indonesia. (TheStar)

Sedania Innovator Bhd posted a net profit of RM1.56mil in the second quarter ended June 30, 2023, which was three times the earnings of RM530,000 recorded in the same quarter in 2022. (TheStar)

Sime Darby Property Bhd has launched a new campaign known as “Great Deals", which covers properties in participating townships of Bandar Bukit Raja, Putra Heights, Serenia City, KLGCC Resort, Ara Damansara, Subang Jaya City Centre, KL East, and Bandar Universiti Pagoh. The campaign period is from Aug 29 to Dec 31. (TheEdge)

Bursa Securities has rejected Top Builders Capital Bhd's revised request for an extension of time to submit its regularisation plan by Dec 29 to the relevant authorities. (TheEdge)

RGB International Bhd has clarified that its independent non-executive director Tan Sri Norazman Hamidun was not arrested by the Malaysian Anti-Corruption Commission (MACC), while managing director Datuk Seri Chuah Kim Seah is currently on bail and giving his full cooperation to the authorities. (TheEdge)

Leong Hup International Bhd (LHI) posted a 60.58% increase in its net profit to RM65.03 million for the second quarter ended June 30, 2023 (2QFY2023), from RM40.5 million a year earlier, on the back of record revenue due to higher sales volume and selling prices of its poultry products. (TheEdge)

Tropicana Corp Bhd returned to the black in the second quarter ended June 30, 2023 (2QFY2023) with a net profit of RM305,000 or 0.02 sen per share, versus a net loss of RM61.55 million or 3.74 sen per share a year earlier. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 30 August 2023