KUALA LUMPUR: Companies that recently made headlines include Sime Darby, UMW, KLK, Boustead Plantations
, MISC, MAHB, DRB-Hicom, Genting, Genting Malaysia, Sunway, Malayan Cement and YTL Corp, said Apex Research.
Sime Darby Bhd is buying a 61.18% stake in UMW Holdings Bhd from PNB for RM3.57 billion with the intention of privatisation.
Kuala Lumpur Kepong Bhd (KLK) has proposed to buy 739.2 million shares or 33% and one share in Boustead Plantations Bhd (BPlant) for a total of RM1.15 billion.
KLK’s 3QFY23 net profit plummeted 84.9% to RM84.1 million.
Sime Darby’s 4QFY23 net profit doubled to RM622 million.
MISC Bhd returned to the black with a RM452.9 million net profit in 2Q23.
Malaysia Airports Holdings Bhd (MAHB) also returned to the black with a net profit of RM102.53 million in 2Q23.
DRB-Hicom Bhd’s 2Q23 net profit plunged 80.11% to RM33.7 million.
Genting Malaysia Bhd (GenM) and parent Genting Bhd returned to the black with a net profits in 2Q23.
Sunway Bhd’s 2Q23, net profit fell 7.2% to RM149.93 million.
Malayan Cement Bhd doubled its net profit to RM79.55 million in 4QFY23.
YTL Corp Bhd’s 4QFY23 net profit more than doubled to RM480.99 million.
Meawhile, the US market declined overnight after technology-led gains came to a halt as investors took profit.
Earlier, European markets dropped following concern over business activity in Germany. Investors will be waiting for the US Federal Reserve Chairman’s speech at the Jackson Hole symposium later today for hints on interest rate.
On the local market, the FBM KLCI rebounded 4.56 points or 0.32% to 1444.67 points.
"Following the recent lacklustre performance, the FBM KLCI could remain sideways above its support of 1,437 points," said Apex.
