Trading ideas: Public Bank, Axiata, Cahya Mata, Berjaya Corp, Mega First, QL Resources, Sarawak Oil Palm, PPB, FGV, Supermax and Pharmaniaga


KUALA LUMPUR: Stocks in focus on Thursday include Public Bank, Axiata, Cahya Mata, Berjaya Corp, Mega First, QL Resources, Sarawak Oil Palm, PPB, FGV, Supermax and Pharmaniaga, said Apex Securities Research.

Public Bank Bhd third quarter of 2023 (3QFY23) net profit was RM1.7bil, up from RM1.59bil in the same 2022 quarter, underpinned mostly by higher non-interest income.

Axiata Group Bhd widened its net loss to RM797.41 million in the third quarter ended Sept 30, 2023 (3QFY2023), mainly due to asset impairment and lower share of results from subsidiary CelcomDigi Bhd.

Cahya Mata Sarawak Bhd‘s net profit fell 93.5% to RM9.98 million in the third quarter ended Sept 30, 2023 (3QFY2023), due to a lower share of profit from its associates as well as an absence of one-off gains recognised during the previous year's corresponding quarter.

Lower tax expenses helped Berjaya Corp Bhd return to the black with a net profit of RM15.77 million for its first quarter ended Sept 30, 2023 (1QFY2024), after incurring a net loss of RM16.42 million in 1QFY23.

Mega First Corp Bhd’s net profit for the third quarter ended Sept 30, 2023 (3QFY2023) fell 14.17% to RM102.53 million, from RM119.46 million a year before, amid lower revenue and lower share of results in equity accounted investment and other income.

QL Resources Bhd logged its best quarterly net profit in the second quarter ended Sept 30, 2023 (2QFY2024) after it posted a RM122.64 million net profit, representing a 30.61% surge from RM93.9 million recorded in the same period last year.

Sarawak Oil Palms Bhd's third quarter net profit rose 14.83% to RM94.55 million from RM82.34 million a year earlier, thanks to higher fresh fruit bunches (FFB) production and higher sales volume.

PPB Group Bhd’s net profit for the third quarter ended Sept 30, 2023 (3QFY2023) fell 52.52% to RM372.55 million, largely due to lower contribution from its 18.8%-owned associate, the integrated agribusiness giant Wilmar International Ltd.

FGV Holdings Bhd posted an 86.8% decrease in net profit for its third quarter ended Sept 30, 2023 (3QFY2023) to RM31.98 million, from RM241.67 million a year ago, owing to a significant fall in profit contribution from its plantation segment.

Supermax Corp Bhd logged a net loss of RM2.05 million in the first quarter ended Sept 30, 2023 (1QFY2024), marking the group's fourth straight loss-making quarter, as revenue shrunk amid weaker demand and persistent lower selling prices.

Pharmaniaga Bhd has proposed a regularisation plan that consists of a capital reduction, renounceable rights issue of news shares plus private placement, to raise up to RM654.61 million to pare down debts.

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