Trading ideas: Berjaya Land, DXN, Pavilion REIT, Wasco, Alam Maritim, MBSB, Fajarbaru, MISC, IHH, Barakah and Betamek

KUALA LUMPUR: Companies that recently made headlines include Berjaya Land, DXN, Pavilion REIT, Wasco, Alam Maritim, MBSB, Fajarbaru, MISC, IHH, Barakah and Betamek, said Apex Securities Research.

Berjaya Land Bhd’s (BLand) 70%-owned subsidiary Berjaya Rail Sdn Bhd (BRail) has teamed up with IJM Corp Bhd's unit IJM Construction Sdn Bhd, Malaysian Resources Corp Bhd (MRCB) and national railway company Keretapi Tanah Melayu Bhd (KTMB) to bid for the Kuala Lumpur-Singapore high-speed rail (HSR) project.

DXN Holdings Bhd posted a 16.47% rise in net profit to RM78.36 million in the third quarter ended Nov 30, 2024 (3QFY2024) from RM67.28 million a year ago, underpinned by higher revenue.

Pavilion Real Estate Investment Trust (Pavilion REIT) net property income (NPI) rose 38.97% to RM134.64 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), from RM96.89 million a year earlier, on higher revenue from malls, including newly acquired Pavilion Bukit Jalil.

Wasco Bhd is disposing of a parcel of land together with storage buildings erected on site in Shah Alam for RM40 million to Array Metal (M) Sdn Bhd.

Alam Maritim Resources Bhd said the High Court has granted it a nine-month extension, starting from Jan 25, to hold meetings with creditors in relation to its scheme of arrangement.

Malaysia Building Society Bhd (MBSB) has appointed former Kumpulan Wang Persaraan (Diperbadankan) (KWAP) CEO Datuk Wan Kamaruzzaman Wan Ahmad as its chairman with immediate effect.

Fajarbaru Builder Group Bhd has been appointed as the developer of a RM192 million affordable housing project in Putrajaya by the federal territory’s local authority.

MISC Bhd added two vessels to its current fleet, namely the floating production storage offloading vessel (FPSO) Marechal Duque de Caxias; and Eagle Veracruz, the group’s latest liquefied natural gas (LNG) dual-fuel very large crude carrier (VLCC).

IHH Healthcare Bhd’s unit Pantai Medical Centre Sdn Bhd has inked an agreement with Pelaburan Hartanah Bhd (PHB) for the development of a new medical block adjacent to the current Gleneagles Hospital Kuala Lumpur complex.

Barakah Offshore Petroleum Bhd will explore other options in disposing of its Kota Laksamana 101 pipelay and accommodation barge, as its agreement to auction the vessel has lapsed.

Betamek Bhd's net profit for the third quarter ended Dec 31, 2023 rose more than twofold to RM5.05 million from RM1.66 million a year earlier, on the back of higher revenue of RM59.22 million versus RM54.73 million.

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