Trading ideas: Master TEC, Top Glove, EWI, Scientex Ayer Keroh, Yinson. FM Global, Kelington, Hibiscus and SCGM

KUALA LUMPUR: Companies in the headlines include Master TEC, Top Glove, EWI, Scientex Ayer Keroh, Yinson. FM Global, Kelington, Hibiscus and SCGM, said Apex Securities Research.

Master TEC Group Bhd has received an unusual market activity (UMA) query from Bursa Malaysia following the sharp rise in its share price.

Top Glove Corp Bhd's net loss for the second quarter ended Feb 29, 2024 narrowed to RM51.19 million from RM164.67 million a year earlier, fuelled by stronger sales volume growth, as customers placed new orders following the depletion of excess inventory.

Eco World International Bhd (EWI) returned to the black with a net profit of RM182,000 for the first quarter ended Jan 31, 2024 (1QFY2024), after nine consecutive quarters of losses, driven by the sale of higher priced commercial units.

Scientex Packaging (Ayer Keroh) Bhd’s net profit for the second quarter shrank 40.06% mainly due to lower revenue, higher electricity costs and changes in product mix.

Yinson Holdings Bhd has proposed a private placement of 120 million new shares with a fixed issue price of RM2.36 per share, to raise RM283.2 million.

FM Global Logistics Holdings Bhd is buying two more plots of freehold land totalling 5.66 acres in the Setia Alaman Industrial Park, Klang, from property developer Petaling Garden Sdn Bhd for RM37.72 million, cash, or RM153 per sq ft.

Kelington Group Bhd through its 90.71%-owned subsidiary has inked a land lease agreement with the Terengganu State Economic Development Corporation to lease a parcel of land measuring 130,678.86 sq ft in Kerteh for an initial term of 30 years, with a further 30-year extension option, starting Feb 1, 2024 to Jan 31, 2084.

The Fyne Field oil field development licence for Hibiscus Petroleum Bhd's unit has been extended by 30 months by the UK's North Sea Transition Authority (NSTA).

SCGM Bhd’s substantial shareholders are injecting their agriculture-related business into the cash company as part of plans to regularise the listed entity after disposing of its core business back in 2022.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Oil settles down on weaker US consumer sentiment
China’s exports top forecasts but falling imports point to more stimulus
Lessons from Malaysia’s Silver State
UK emerges as haven from global storms
Empowering SMEs in their digital transformation
Holistic approach to developing data centres
Sunview gains momentum on booming solar sector
Carbon tax conundrum
Robust plans needed to spur high-skilled jobs
Synergy House brings innovation to the table

Others Also Read