Trading ideas: CTOS, Dialog, Hup Seng, Hextar, MGB, Tune Protect, CN Asia, Public Bank, RHB, Dataprep, GFM and PA Resources


KUALA LUMPUR: Copanies that recently made headlines include CTOS, Dialog, Hup Seng, Hextar, MGB, Tune Protect, CN Asia, Public Bank, RHB, Dataprep, GFM and PA Resources, said Apex Securities Research.

Private equity firm Creador, via Jade Vine Sdn Bhd, has acquired five million shares in credit reporting firm, CTOS Digital Bhd to 444.55 million shares, representing a 19.25% stake.

Dialog Group Bhd's net profit rose 16.6% to RM148.29 million for its second quarter ended Dec 31, 2023 from RM127.15 million a year earlier, on better performances from Malaysian and international operations.

Hup Seng Industries Bhd’s net profit in the fourth quarter ended Dec 31, 2023 (4QFY2023) climbed 10% to RM13.68 million from RM12.44 million a year earlier, on lower cost of certain major input materials.

Hextar Global Bhd’s net profit jumped fivefold to RM23.39 million in 4QFY2023 from RM4.64 million a year ago, underpinned by the stellar performance of the newly diversified fruits segment and improved results from the agriculture and specialty chemicals segments.

MGB Bhd’s net profit more than tripled in 4QFY2023 to RM12.48 million from RM3.71 million a year earlier, thanks to higher progressive billings and cost control.

Tune Protect Group Bhd said that certain policies underwritten by its subsidiary, Tune Insurance Malaysia Bhd, as part of the Perlindungan Tenang Voucher initiative in 2022 have been deemed unacceptable by the government, potentially resulting in an adverse impact of RM30.8 million on its earnings to be reflected in its results for 4QFY2023.

CN Asia Corporation Bhd was publicly reprimanded by Bursa Malaysia, with the bourse operator fining its seven directors a total of RM225,000 for breaching listing rules.

Public Bank Bhd’s wholly-owned subsidiary Public Bank Vietnam Ltd is buying RHB Bank Bhd’s indirect wholly-owned unit RHB Securities Vietnam Company Ltd for 374 billion dong or RM72.55 million, cash.

Dataprep Holdings Bhd has put on hold its proposed private placement of up to 30% of its enlarged share base to raise up to RM40.17 million after its win of a 30-year concession agreement to develop a passive telecommunications infrastructure project in Bandung, Indonesia.

GFM Services Bhd is looking to raise RM14.78 million via a private placement of 69.05 million shares or 10% of its enlarged share base, to fund working capital and the purchase of machinery.

PA Resources Bhd’s wholly-owned PA Extrusion (M) Sdn Bhd is buying two parcels of adjoining industrial land — measuring a collective 72,840 sq ft — in Kuala Selangor from Niken Steel (M) Sdn Bhd for a total of RM21 million to build a new factory that would increase its production capacity from 3,200 tonnes a month to 7,000 tonnes a month in phases.

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