Trading ideas: Yinson, Astino, DXN, EcoFirst, Velesto, Nestcon, Maxim, Teladan and Steel Hawk

KUALA LUMPUR: Companies making headlines include Yinson, Astino, DXN, EcoFirst, Velesto, Nestcon, Maxim, Teladan and Steel Hawk, said Apex Securities Research.

Yinson Holdings Bhd's net profit for the financial year ended Jan 31, 2024 (FY2024) jumped 63% to RM964 million, from RM589 million a year earlier, on the back of a surge in revenue to RM11.65 billion versus RM6.32 billion.

Flat steel product manufacturer Astino Bhd reported a fourfold surge in its net profit for the second quarter ended Jan 31, 2024 from a year earlier, on stronger sales and profit margin.

Health supplement firm DXN Holdings Bhd expects its Brazil operations to turn profitable by 2025, with potential to become its main market by revenue in the next five years.

Ecofirst Consolidated Bhd is alleging that its former directors had conspired with Kerjaya Prospek Group Bhd in the award of a RM404.35 million residential development project in June last year, which was subsequently terminated in November.

Velesto Energy Bhd has secured a two-year contract extension for the provision of three jack-up rigs to Petronas Carigali Sdn Bhd, for US$265 million (about RM1.26 billion).

Construction and renewable energy firm Nestcon Bhd said it has bagged a RM79.5 million contract under phase one of the Wawari township development in Johor Bahru.

Loss-making Maxim Global Bhd said its 51%-owned unit is acquiring a parcel of land near the Johor-Singapore Rapid Transit System (RTS) station in Johor Bahru to raise its landbank for property development projects and construction business expansion.

Melaka-based property developer Teladan Group Bhd has teamed up with the Melaka state government development agency, Melaka Corp (MCorp), to develop a 341.2-acre German Technology Park at Ayer Panas in Jasin.

Steel Hawk Bhd, which has filed for an initial public offering as part of its listing transfer from the LEAP Market to the ACE Market, got a one-year extension each to the two contracts it secured last year to provide pig trap system maintenance for Petronas Carigali Sdn Bhd.