MIDF Research upgrades Gabungan AQRS earnings by 23%

PETALING JAYA: MIDF Research has upgraded its earnings estimates for Gabungan AQRS Bhd by RM8.8mil or 23.03% and RM72.1mil or 16.3% for its revenue estimates on the back of two major developments.

A group of private investors led by Tan Sri David Kong of Nirvana Group has offered to purchase 100% of Monolight IBS Building System Sdn Bhd, which was previously Gabungan AQRS’ 49% joint-venture, in return of 19.56 million shares or 5.01% stake in the construction and property development firm at RM1.33 per share.