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Analyst Reports
Trading ideas: MyEG, Axis REIT, Mah Sing, Capital A, Hibiscus, Chin Hin, Carlsberg, I-Bhd
KUALA LUMPUR: Here is a summary of the previous day's corporate announcements, according to TA Securities Research.
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Commodities
MPOB seeks to strengthen oil palm R&D strategies
The Malaysian Palm Oil Board (MPOB) will analyse research projects and issues in the local oil palm industry to ensure that it will continue to drive growth and progress towards a lucrative and sustainable future.
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Corporate News
Axis-REIT to sell Johor asset for RM162mil
Axis Real Estate Investment Trust (Axis-REIT) is proposing to dispose of the Axis Steel Centre@SiLC in Nusajaya, Johor, to a data centre operator for RM162mil.
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Corporate News
KLCCP upbeat about its growth prospects
KLCCP Stapled Group remains optimistic about the growth prospects for all its business segments on the back of heightened demand for meetings, incentives, conferences and exhibitions as well as the number of tourist arrivals.
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Corporate News
Farm Price aims for RM24.5mil from IPO
Farm Price Holdings Bhd aims to raise RM24.5mil from its initial public offering (IPO).
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Corporate News
Inta Bina benefits from robust property sector
Inta Bina Group Bhd has secured a second construction job this year that offers a projected profit before tax margin of 5.4% and a net profit contribution of about RM7mil over the construction period.
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Corporate News
Scientex a refuge for defensive investors
Scientex Bhd will prevail as a defensive refuge for investors to weather potential cyclical downturns despite global market uncertainty, says UOB Kay Hian Research (UOBKH Research).
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Corporate News
RHB Bank is planning to maintain its 4.5% loan growth target
RHB Bank Bhd is likely to be operating with modest loan prospects in the financial year 2024 (FY24), with stable net interest margins (NIM) as well as a balanced set of non-fund-based streams, says Kenanga Research.
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Aviation
Passenger traffic stays strong in the first quarter
MIDF Research is maintaining a “neutral” call on the aviation sector as both positives and negatives are to be expected for the rest of the year.
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Corporate News
Meta Bright signs RM25mil leasing contract
Meta Bright Group Bhd (MBGB), via its wholly-owned Australian subsidiary Meta Bright Australia Pty Ltd, has secured a equipment leasing contract from Australian copper mining company Mt Cuthbert Resources Pty Ltd (MCR).
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Logistics
Little impact so far from Mideast tensions
The ongoing tensions in the Middle East are having limited impact on the earnings growth of local shipping and aviation companies operating in the transportation sector.
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Corporate News
Fajarbaru secures RM252mil contract from WCT
Fajarbaru Builder Group Bhd has been awarded a contract worth RM252.26mil from WCT Holdings Bhd, bringing its total construction order book to RM1.2bil.
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Corporate News
I-Bhd plans preference share issue
Property developer I-Bhd is proposing to issue preference shares to its major shareholder, Sumurwang Sdn Bhd, in a deal that could raise up to RM100mil.
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Corporate News
Dutch firm sets up technology centre in PJ
Global Dutch dairy firm FrieslandCampina, the parent company of Dutch Lady Milk Industries Bhd, has set up a technology excellence centre in Petaling Jaya, Selangor.
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Corporate News
Ancom Nylex on track for better revenue
Ancom Nylex Bhd has sorted out issues with importing intermediates of Chemical T from China by securing necessary clearance and permits, says Hong Leong Investment Bank Research (HLIB Research).
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Corporate News
HSS Engineers declares 1.21 sen dividend on strong FY23
HSS Engineers Bhd has announced a final single-tier dividend of 1.21 sen per share in respect of the financial year ended Dec 31, 2023 (FY23), a significant increase from the previous year’s dividend of 0.92 sen per share.
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Corporate News
Carlsberg to continue reinvesting in brands
Carlsberg Brewery Malaysia Bhd will be reinvesting in its brands to safeguard the future of the business amid the tough business environment.
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Economy
China’s prices are too low for buyers to sweat about tariffs
China can withstand any new tariffs the world throws at it – even the punitive ones Donald Trump is planning if he wins a second presidential term – because its prices are simply too competitive to resist.
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Corporate News
United Plantations keeping fingers crossed for 2024
United Plantations Bhd is hopeful of a satisfactory 2024, buoyed by an increase in palm oil prices in the first quarter of the year (1Q24), while remaining cautious over uncertain global economic growth sentiments.
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Corporate News
Sasbadi reports record high quarterly revenue on robust sales
Sasbadi Holdings Bhd reported its highest-ever quarterly revenue of RM35.02mil for the second quarter ended Feb 29, 2024 (2Q24), due to the robust sales of its academic publications for the 2024 academic year.