MQ Market Updates - 30 August 2024

MQ Trader

Publish date: Fri, 30 Aug 2024, 05:18 PM

NationGate Holdings Bhd (KL:NATGATE), which was recently transferred to the Main Market of Bursa Malaysia, saw its net profit almost doubled to RM28.54 million in the second quarter ended June 30, 2024 (2QFY2024), from RM14.32 million a year ago, as revenue more than quadrupled. (TheEdge)

Mah Sing Group Bhd has posted a strong eight-month sales performance of RM1.66bil, putting it on track to meeting its minimum annual sales target of RM2.5bil. (TheStar)

Velesto Energy Bhd's earnings for financial year 2025 (FY25) is expected to be affected by Petronas' lower exploration activities in Sarawak. (NST)

Shares of Sarawak Oil Palms Bhd (KL:SOP) rose on Friday to their highest in one month, after the plantation company reported second-quarter results that beat estimates. (TheEdge)

Analysts have raised Tenaga Nasional Bhd (TNB)'s earnings forecasts following stronger results in the first half of financial year 2024 (1HFY24). (NST)

Visits to Genting Bhd's (KL:GENTING) Resorts World Genting (RWG) were still below pre-pandemic levels, despite a stronger second-quarter revenue boosted by higher tourist visitations on the back of visa-free travel. (TheEdge)

Datasonic Group Bhd’s (KL:DSONIC) net profit for its first quarter ended June 30, 2024 (1QFY2025) climbed 41.96% to RM27.02 million from RM19.04 million a year earlier amid higher earnings from its operations. (TheEdge)

MN Holdings Bhd said it will advance its operational projects within the gas sector as the natural gas distribution system in Peninsular Malaysia is undergoing a significant expansion. (TheStar)

Solarvest Holdings Bhd is anticipating a satisfactory earnings year in the making amid an optimistic outlook on the renewal energy industry in Malaysia. (TheStar)

Infomina Bhd via digital platform SSM Search has inked a memorandum of understanding with YYC taxPOD, a subsidiary of professional services firm YYC Group, to enhance how SME businesses access and utilise corporate information. (TheStar)

Capital A Bhd (KL:CAPITALA) is expected to see a better July-September quarter on the strengthening of the ringgit and other Asean currencies, said chief executive officer (CEO) Tan Sri Tony Fernandes after its April-June quarter disappointed, despite rebound in passenger count. (TheEdge)

Investment holdings company Sedania Innovator Bhd (KL:SEDANIA) registered a revenue of RM78.3 million for its unaudited 18-month financial period ended June 30, 2024 (18MFY2024). (TheEdge)

Alliance Bank Malaysia Bhd (KL:ABMB) is on track to achieve record profit for the financial year ending March 31, 2025 (FY2025), as loans and non-interest income continue to expand steadily, analysts said. (TheEdge)

Wasco Bhd has reported a significant rise in its order book, which has grown from RM3.2 billion to RM3.7 billion in the second quarter of financial year 2024 (2Q FY2024) due to its acquisition of substantial contracts, said Public Investment Bank Bhd. (NST)

Source: New Straits Times, The Edge Markets, The Star 30 August 2024