MQ Market Updates - 29 November 2024

MQ Trader

Publish date: Fri, 29 Nov 2024, 05:25 PM

Shares of Supreme Consolidated Resources Bhd (KL:SUPREME) gained 48% in its trading debut on Friday after the frozen food processor’s initial public offering (IPO) on the ACE Market raised RM17.50 million. (TheEdge)

Solar District Cooling Group Bhd (KL:SDCGB), which listed on the ACE Market of Bursa Malaysia on Sept 19, posted a net loss for the third quarter on high administrative expenses related to the initial public offering (IPO) expenses. (TheEdge)

Wellcall Holdings Bhd (KL:WELLCAL) declared a special dividend on top of an interim dividend, despite a 56.22% drop in the industrial rubber hose maker’s fourth quarter net profit — mainly due to foreign exchange (forex) losses. (TheEdge)

WCE Holdings Bhd's net loss for the second quarter ended Sept 30, 2024 (2Q25) narrowed to RM10.58 million from RM24.17 million a year ago, mainly attributed to interest costs charged after section completions. (NST)

Public Bank Bhd's net profit expanded 12.4 per cent to RM1.91 billion in the third quarter ended Sept 30, 2024 (Q3 2024) from RM1.7 billion in Q3 2023, supported by the increase in net interest and Islamic banking income. (NST)

Catcha Digital Bhd (KL:CATCHA) is to purchase a 51% stake in software-as-a-service (SaaS) provider Nexible Solutions Sdn Bhd for RM11.38 million, cash. (TheEdge)

IHH Healthcare Bhd's net profit grew to RM534.0 million in the third quarter ended Sept 30, 2024 (3Q FY2024) from RM532.0 million in the same period last year, buoyed by sustained demand for quality healthcare services and growth in revenue intensity. (NST)

Berjaya Corp Bhd posted a net loss of RM167.85 million in the first quarter ended Sept 30, 2024 (1Q 2024), versus RM11.08 million of net profit in the same period last year. (NST)

PPB Group Bhd's (KL:PPB) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) fell 44.1% to RM208.12 million, from RM372.55 million a year earlier, largely due to lower contribution from its 18.8%-owned associate Wilmar International Ltd, as well as lower profit from its core business segments. (TheEdge)

Protasco Bhd’s (KL:PRTASCO) net profit increased six times to RM18.93 million in the third quarter ended Sept 30, 2024 (3QFY2024), from RM3.13 million a year ago, lifted by improved performance from its maintenance segment. (TheEdge)

Gaming-to-plantation conglomerate Genting Bhd (KL:GENTING) reported a 57% drop in its third-quarter net profit, as it was hit by higher property, plant and equipment (PPE) write-off totalling RM207.3 million, as opposed to RM1.3 million previously. (TheEdge)

Shares of Axiata Group Bhd (KL:AXIATA) rose to a one-month high on Thursday, as investors welcomed a better-than-expected third quarter, while analysts stayed divided amid earnings uncertainties ahead. (TheEdge)

EPB Group Bhd, a food processing and packaging machinery solutions provider, posted a 22 per cent higher net profit of RM3.14 million for the third quarter ended Sept 30 2024. (NST)

Shares of Tenaga Nasional Bhd (KL:TENAGA) fell on Friday to their lowest in nearly four months, after the national electric utility reported weaker-than-expected third-quarter earnings. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 29 November 2024