MQ Market Updates - 22 November 2024

MQ Trader

Publish date: Fri, 22 Nov 2024, 05:06 PM

Theta Edge Bhd (KL:THETA) said it has partnered local data-science company iStream360 Sdn Bhd to develop “market transformative” artificial intelligence (AI), blockchain and advanced system solutions. (The Edge)

Reservoir Link Energy Bhd’s wholly-owned subsidiary, Reservoir Link Sdn Bhd, has been appointed by Petroliam Nasional Bhd (PETRONAS) as its panel contractor for the provision of integrated well continuity services for intervention, workover and abandonment. (TheStar)

Northern Solar Holdings Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia. The company is tentatively scheduled to list in February 2025. (TheStar)

Globetronics Technology Bhd's share price jumped as much as 11.8 per cent in morning trade after it bagged a RM145 million contract to provide integrated circuit (IC) product packaging, testing, and backend services to Taiwan-based ChipMOS Technologies Inc. (NST)

Pawnbroker Pappajack Bhd (KL:PPJACK), whose shares will be transferred from the ACE Market to the Main Market of Bursa Malaysia on Friday (Nov 22), saw its net profit rise 8.2% to RM6.52 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM6.03 million a year earlier, on the back of a 19.3% increase in gross profit from both the pawnbroking segment and sales of unredeemed or bid pledges. (The Edge)

UEM Sunrise Bhd's net profit surged 176 per cent to RM22.99 million in the third quarter (3Q) of the financial year ended Sept 30, 2024, from RM8.34 million in the same period last year, amid higher margin contributions from the sale of land. (NST)

Hap Seng Consolidated Bhd's (HSCB) net profit for the third quarter ended Sept 30, 2024 (3Q 2024) soared nearly fourfold to RM193.11 million, up from RM50.30 million in the same period last year. (NST)

MSM Malaysia Holdings Bhd registered a bigger net loss of RM49.76 million for the third quarter (Q3) ended September 30, 2024 from RM36.06 million a year ago due to a foreign exchange translation loss. (NST)

DRB-Hicom Bhd registered a net loss of RM5.29 million in the third quarter (Q3) 2024 from a net profit of RM70.80 million a year ago. (NST)

7-Eleven Malaysia Holdings Bhd's net profit fell 24 per cent to RM10.9 million in the third quarter (3Q) of financial year 2024 from RM14.38 million in same period last year on higher operating expenses. (NST)

Affin Bank Bhd's net profit expanded 45.2 per cent year-on-year to RM145.82 million in the third quarter ended Sep 30, 2024 (Q3 2024) versus RM100.45 million in Q3 2023 on higher interest income and income from Islamic banking business. (NST)

Bumi Armada Bhd reported a net profit of RM211.3 million for the third quarter of 2024 (3Q24), reflecting an 18.9 per cent increase compared to RM177.8 million in the same period last year. (NST)

Sunway Construction Group Bhd’s net profit for the third quarter ended Sept 30, 2024 (3Q 2024) increased to RM46.47 million from RM35.01 million in the same quarter last year. (TheStar)

AEON Co (M) Bhd (KL:AEON), a general merchandise store and supermarket chain operator, saw its net profit rise 35.4% to RM18.79 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM13.88 million a year earlier on higher revenue. (The Edge)

Oil company Petron Malaysia Refining & Marketing Bhd (KL:PETRONM) suffered a 94.3% drop in its third-quarter net profit, on lower sales volume due to a correction in domestic fuel demand following the implementation of the retail diesel targeted subsidy in June this year. (The Edge)

Mega First Corp Bhd’s (KL:MFCB) net profit rose 13.8% to RM116.64 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM102.53 million a year earlier, underpinned by stronger earnings from its renewable energy and resources segments. (The Edge)

TSH Resources Bhd (KL:TSH) reported a 12.19% increase in its net profit for the third quarter spanning July to September 2024 (3QFY2024), despite a drop in revenue, as it recorded reduced non-controlling interests, which resulted in the larger share of profit attributable to the owners of the company. (The Edge)