KUALA LUMPUR: Recent headlines from Corporate Malaysia include Yinson
, SunCon, EcoWorld Malaysia, Astro, Top Glove, Binasat, PTT Synergy, MGB, T7 Global, Epicon and Master Tec, said Apex Securities Research.
Yinson Holdings Bhd’s production’s floating, production, storage, and offloading (FPSO) vessel Atlanta recently set sail from a shipyard in Dubai, United Arab Emirates, to Brazil, marking the successful completion of the project execution phase.
Sunway Construction Group Bhd (SunCon) has been awarded a RM747.8mil contract from a US-based multinational technology corporation for the construction and completion of a data centre located in Selangor
Eco World Development Group Bhd (EcoWorld) reported a 22.15% rise in net profit for its first quarter, mainly due to higher interest income from the placement of excess funds by the group’s Malaysian operations.
Astro Malaysia Holdings Bhd saw its fourth quarter net profit drop 18.95% year-on-year amid lower revenue, while it recorded higher net financing costs, dragged by unfavourable unrealised foreign exchange losses from unhedged lease liabilities.
Top Glove Corp Bhd, the world’s biggest glovemaker by volume, will likely stay in the red in the year ending Aug 31, 2024 (FY2024) and investors should avoid buying into the stock for now, analysts said.
Binasat Communications Bhd has bagged a RM58.26 million contract to supply and install cable systems from Tenaga Nasional Bhd (TNB).
PTT Synergy Group Bhd, through its wholly owned Pembinaan Tetap Teguh Sdn Bhd, has secured a RM299 million contract to build the Palekbang-Kota Bharu bridge and connecting roads at Jajahan Tumpat and Jajahan Kota Bharu, Kelantan.
MGB Bhd has secured a contract worth RM207.03 million to undertake the development of two blocks of service apartments in Sepang, Selangor.
T7 Global Bhd is planning to raise up to RM41.56 million via a private placement of a maximum of 90.5 million shares or 10% of its enlarged share base.
Epicon Bhd‘s total outstanding order book has currently risen to RM929 million, from RM840 million as at March 18, 2024, after it secured a letter of award (LOA) for a construction contract worth RM89.1 million.
Master TEC Group Bhd said it was not able to explain the recent surge in its share price that reached new record highs in response to Bursa Malaysia’s unusual market activity (UMA) query.
