KUALA LUMPUR: Companies that recently made headlines included Teladan, Analabs, Crescendo, Kim Loong, UMS, ARB, Master Tec and Wentel, said Apex Securities Research.
Bursa Malaysia has announced the transfer of the securities of Teladan Group Bhd from the ACE Market to the property sector of the Main Market from Jan 2, 2024.
Chemical trading outfit Analabs Resources Bhd
's net profit doubled to RM13.04 million for the second quarter ended Oct 31, 2023 from RM5.51 million a year ago, led by improved manufacturing business and better cost control, along with increased dividends from quoted share investments.
Crescendo Corp Bhd saw its net profit for the third quarter ended Oct 31, 2023 rise by 270% to RM17.97 million compared with RM4.86 million a year earlier, underpinned by higher properties sales compounded with high-margin industrial land sale.
Kim Loong Resources Bhd's net profit rose 31% to RM47.97 million for the third quarter ended Oct 31, 2023, from RM36.74 million a year ago, driven by increased production of fresh fruit bunches and higher sales of crude palm oil.
UMS Holdings Bhd has disposed of its entire 45.13% stake in oil and gas equipment supplier MKS Sdn Bhd to its major shareholder NGT Holdings Sdn Bhd for RM6.11 million in a related party transaction.
Datuk Seri Liew Kok Leong has stepped down as the executive chairman of ARB Bhd, less than three months after being redesignated to the position, citing pursuing other interests as the reason for his resignation, which is effective immediately.
Wires and cable manufacturer Master TEC Group Bhd, en route to an ACE Market listing on Jan 29 next year, has set an issue price of 39 sen per share for its initial public offering (IPO) exercise to raise RM111.39 million, of which about 45% or RM49.73 million will go to a selling shareholder via an offer for sale.
Metal fabricator Wentel Engineering Holdings Bhd, which is eyeing to list on the ACE Market, has entered into an underwriting agreement with TA Securities Holdings Bhd to underwrite a total of 57.5 million new shares, being the portion made available to the Malaysian public via balloting.
