Trading ideas: SunCon, PetChem, Reneuco, Sime Darby, MPI, Berjaya Food, Apex Healthcare, Hong Leong Industries, LBS and Sunway

KUALA LUMPUR: Companies that recently made headlines include SunCon, PetChem, Reneuco, Sime Darby, MPI, Berjaya Food, Apex Healthcare, Hong Leong Industries, LBS and Sunway.

Sunway Construction Group Bhd’s (SunCon) unit, Sunway Construction Sdn Bhd (SCBB) has bagged a contract worth RM720.98 million from Sunway Lost World Water Park Sdn Bhd, in a related party transaction.

Petronas Chemicals Group Bhd (PCG) has signed a memorandum of understanding with Sarawak state-owned Sarawak Petchem Sdn Bhd to conduct a joint feasibility study to develop a low-carbon ammonia and urea plant in Bintulu.

Reneuco Bhd and Citaglobal Bhd said that their consortium has secured a 30-year concession to supply electricity to the East Coast Rail Line (ECRL).

Sime Darby Bhd’s net profit for the second quarter ended Dec 31, 2023 (2QFY2024) surged to RM2.29 billion from RM389 million, due mainly to the RM2 billion gain on the disposal of Ramsay Sime Darby Health Care in December 2023.

Malaysian Pacific Industries Bhd (MPI) said its net profit surged over 75% to RM32.15 million in the second quarter ended Dec 31, 2023 from a year earlier thanks to lower expenses, as it also logged other operating income.

The Israel-Palestine conflict boycott of the Starbucks franchise dragged Berjaya Food Bhd (BFood) down to a record net loss of RM42.58 million for the second quarter ended Dec 31, 2023 (2QFY2024) against a net profit of RM35.49 million a year earlier.

Apex Healthcare Bhd said its net profit fell 42.41% to RM20.06 million in the fourth quarter from a year earlier but declared a special dividend following a record year thanks to a disposal gain.

Hong Leong Industries Bhd’s (HLI) net profit for the second quarter jumped 39.36% year-on-year to RM102.47 million, attributed mainly to a favourable sales mix of motorcycle models and a disposal gain on its fibre cement board manufacturing business.

LBS Bina Group Bhd reported a 31% growth in its fourth quarter net profit to RM36.55 million, underpinned by increased contribution from its property development business and better progress of construction activities.

Sunway Bhd closed its fourth quarter for the financial year 2023 (4QFY2023) with a 29.8% year-on-year jump in net profit to RM265.9 million and its highest annual revenue of RM6.14 billion since the group's listing in 2011.

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