Bursa highlights for Friday, May 6

Bursa Highlights logo for Star Online (Business).

Bursa highlights on Fri, May 6

* MISC Bhd, a Petronas subsidiary whose profit comes mainly from LNG and petroleum shipping, boosted its first-quarter group operating profit by a whopping 67.1%. However, profit attributable to equity holders only rose 17.4% to RM571mil, as RM224.4mil of total profit were allocated to non-controlling interest (Q1 2015: RM25.84mil). Read more

* KLCC Stapled Group, comprising KLCC Property Holdings Bhd and KLCC REIT, recorded a 2.4% year-on-year jump in total earnings to RM182.75mil for the first quarter ended March 31. Revenue grew by the same percentage, largely contributed by the retail segment. Read more

* Bursa Malaysia Securities Bhd has publicly reprimanded packaging materials maker Ire-Tex Corp Bhd for failing to make sure that its fourth quarterly report for the financial year ended Dec 31, 2014, (FY14) was factual and accurate. Ire-Tex announced a group “profit” of RM2.79mil for 2014 but subsequently revealed a loss of RM6.15mil. Read more

* The Employees Provident Fund board has emerged as a substantial shareholder of Top Glove Corp Bhd in recent days, with shareholding of 5.26%, filings to Bursa Malaysia showed on Friday. Read more

* TSR Capital Bhd’s unit has secured a RM90mil contract for the earthworks for the Serdang depot of the RM28bil Mass Rapid Transit Line 2 project that links Sungai Buloh to Serdang and Putrajaya. Read more

* The country’s largest offshore support vessel provider, Icon Offshore Bhd, had a tough year in 2015 due to external and internal issues, leaving it with an after-tax loss of RM363.3mil. Under new managing director Amir Hamzah Azizan, the company has just won its first charter contracts for 2016 -- providing vessels to ExxonMobil Exploration And Production Malaysia under a deal worth RM42mil. Read more

* SILK Holdings Bhd’s wholly-owned unit, Jasa Merin (Labuan) PLC (JML), has been granted Islamic financing facilities by Affin Islamic Bank Bhd totaling RM55.27mil to part-finance the purchase of three oil/chemical tankers from subsidiaries of Boustead Heavy Industries Corp Bhd. Read more

* Flonic Hi-Tec Bhd, which is involved in project management, interior fit-out and trading of frnture and building materials, has won a RM30.86mil contract (for project management and sub-contract works) in relation to the construction of 178 residential units at Taman Sutera Wangi in Mukim Batu Berendam, Malacca. Read more 

* British American Tobacco (M) Bhd managing director Stefano Clini has resigned. The country’s top cigarette manufacturer says the formalities to appoint a new MD are underway. BAT is in a transition period from being a manufacturer to outsourcing tobacco products from other British American Tobacco group factories regionally.

* LKL International Bhd, which makes beds and peripherals for hospitals and medical centres, has received an oversubscription rate of 92.84 times for its 8 million shares made available for public subscription. Its tentative listing date is May 16. Read more