Total door system solution provider Econframe Bhd posted a net profit of RM4.1 million for the fourth quarter (Q4) ended August 31, 2023 (FY23), representing a year-on-year (YoY) growth of 37.2 per cent from RM3.0 million achieved in the same quarter of FY22. (NST)
PLYTEC Holding Bhd (PLYTEC), en route for a listing on the ACE Market of Bursa Malaysia Securities Bhd, aims to raise RM37.1 million from its initial public offering (IPO). (TheStar)
Surface engineering service provider Frontken Corp Bhd’s net profit fell 23% to RM26.75 million in the third quarter ended Sept 30, 2023 (3QFY2023), from RM34.73 million a year before, amid higher tax payments and lower foreign exchange gains. (TheEdge)
Plantation and healthcare outfit TDM Bhd is acquiring an entire stake in Hospital Bersalin Razif Sdn Bhd for RM15 million, cash. (TheEdge)
Itmax System Bhd (ISB) was recognised for its outstanding achievement in the intelligent transportation system (ITS) and bagged the ITS World Congress Industry Award during the ITS World Congress 2023 in Suzhou, China. (NST)
LPI Capital Bhd said it expects to deliver sustainable growth in FY23 despite the challenging environment. (TheStar)
Payment solutions provider Revenue Group Bhd’s shares were actively traded after it received approval from the Local Government Development Ministry (KPKT) for an online moneylending licence. (TheEdge)
RHB Research expects a stronger recovery for Malaysia Airports Holdings Bhd (MAHB) this year as operations in Malaysia and Turkey have shown positive passenger traffic movement in September. (NST)
Dagang Nexchange Bhd's (Dnex) venture into the Middle East and North Africa (Mena) region is gaining momentum as it increases its access to technology solutions from China. (TheStar)
Maybank Investment Bank Bhd expects Lotte Chemical Titan Holding Sdn Bhd to record losses for the third quarter of 2023 (3Q2023) ranging in between RM150 million to RM200 million, driven by a 3% to 5% decline in polymer prices and a significant reduction in input naphtha prices by 17%. (TheEdge)
TA Securities Research has upgraded Apex Equity Holdings Bhd (AEHB) to “hold” at RM1.09 with an unchanged target price of RM1.19, and said AEHB’s revival of money lending operations in the third quarter of 2022 (3Q2022) has contributed healthily to the company’s financial performance, generating revenues of RM3.4 million and a profit before tax (PBT) of RM1.9 million in AEHB’s results for the most recent first half of the year 2023 (1H2023). (TheEdge)
Singapore’s Energy Market Authority's (EMA) plan to set up an entity (Gasco) in 2024 that will centralise the procurement and supply of gas for the power sector may benefit YTL Power International Bhd in the longer term as profit margins of power generators (Gencos) would need to be driven mainly by plant efficiencies, according to CGS-CIMB. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 24 October 2023
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