Top Glove Corp Bhd is at risk of being removed from the FBM KLCI if the rubber glove manufacturer's share price deteriorates further, AllianceDBS Research Sdn Bhd analyst Quah He Wei wrote in a note today.

ARB Bhd, formerly known as Aturmaju Resources Bhd, is back in the black, with a record quarterly net profit of RM5.08 million for the three months ended March 31, 2019 (1QFY19) compared to a net loss of RM649,000 it posted a year prior.

This is as revenue surged to its highest since 2015, at RM12.43 million in 1QFY19, from RM79,000 a year ago. This first quarter revenue is already close to the RM15.23 million the group achieved for the entire FY18.

after its net profit jumped nearly three times in the second quarter ended June 30, 2019 (2QFY19) to RM37.29 million against RM12.74 million a year ago, as it recorded higher earnings in its construction division, contributed by engineering, procurement and construction works in Vietnam.

KNM unit gets US$12.31m purchase order from Petrofac Emirates

IFCA MSC Bhd has entered into a strategic partnership programme with Huawei Services (Hong Kong) Co Ltd via the signing of a memorandum of understanding (MoU) between the two parties.

MYEG Services Bhd’s business outlook risked falling sharply last week after the government announced plans to cap the number of foreign workers in the country’s workforce at 15% by next year.

BIMB Securities Sdn Bhd analyst Afifah Abdul Malek said the company has yet to comment on the matter for the time being, but investors decided not to wait.

“The news on foreign workers cap by 2020 might have triggered the selling and anticipation on MyEG’s business outlook for next year,” she told The Malaysian Reserve last Friday.

Kuantan Flour Mills Bhd (KFM) recorded a net loss of RM511,000 for the third quarter ended June 30, 2019 compared with a net profit of RM33,000 in the same period of last year, attributed to higher raw material and production overhead cost.

Mudajaya Group Bhd shares rose to its six-month peak of 35 sen today, ahead of the release of a possible corporate exercise announcement this week, theedgemarkets.com was told.

At 4pm, the stock was traded 12 sen or 57.14% higher at 33 sen, and volume had ballooned to a whopping 71.13 million shares, exceeding its 200-day average of 455,154 shares.

As at 9.45am, Yong Tai Bhd is the most actively traded stock with 45.9 million shares changing hands after the opening bell

VELESTO Energy Bhd’s latest drilling contract is expected to help the company achieve its 80% utilisation target while providing earnings visibility for the year.

The upstream oil and gas drilling service provider secured a US$8 million (RM33.5 million) contract from Petronas Carigali Sdn Bhd via its indirect wholly owned unit, Velesto Drilling Sdn Bhd.

Expected to commence in the third quarter of this year (3Q19), the contract is to drill two firm wells whereby the group will assign its Naga 7 drilling rig for the works.

Kenanga Investment Bank Bhd analyst Koh Huat Soon said the duration of the work is expected at 90 to 120 working days with daily charter rates believed to be near US$70,000 per day (excluding other value-added services).

This will enable Velesto Energy’s to make earnings before interest, taxes, depreciation and amortisation (EBITDA) margins of around 45%.

Yesterday, Syarikat Takaful said that for the third quarter ended Sept 30, 2019 (3QFY19), net profit rose to RM112.34 million from RM83.96 million a year earlier. Cumulative nine-month net profit was higher at RM289.73 million versus RM204.35 million a year earlier.

Today, RHB Investment Bank Bhd wrote in a note that Syarikat Takaful's 3QFY19 net earnings met RHB's forecast but topped street estimates.

AmInvestment maintains 'buy' call on Bumi Armada, values shares at 54 sen