Trading ideas: Maxis, Bank Islam, Malaysian Flour Mills, Menang, HeiTech Padu, Reservoir Link, MGRC, IGB REIT, Affin Bank and Excel Force

KUALA LUMPUR: Corporates making news headlines include Maxis, Bank Islam, Malaysian Flour Mills, Menang, HeiTech Padu, Reservoir Link, MGRC, IGB REIT, Affin Bank and Excel Force.

Maxis Bhd has invested RM813mn in FY2023 to enhance its mobile network capacity, grow its fibre-to-the-premise footprint, and improve digitalisation across the company.

Bank Islam Malaysia Bhd managed to mitigate the impact of the static overnight policy rate, leading to an improved net income margin over the course of last year.

Malayan Flour Mills Bhd is investing a total of RM100mn in the FY2024, of which RM32.0mn will be used to install a new milling line in Lumut.

Menang Corp (M) Bhd had signed an agreement to acquire 20% of an Indonesian healthcare joint venture for RM4mn and to subscribe up to 30mn preference shares for RM30mn in the JV.

Heitech Padu Bhd has proposed a private placement of 10.1mn new ordinary shares, raising gross proceeds of RM23mn., which will be utilised for working capital.

Reservoir Link Energy Bhd's sub-subsidiary Founder Energy Sdn Bhd has secured a contract worth about RM22mn from JS Solar Sdn Bhd for the sub-contracting works of a 50MWac solar farm in Kulim, Kedah.

Malaysian Genomics Resource Centre Bhd's wholly-owned subsidiary MGRC Healthcare Sdn Bhd is collaborating with De Cell Bhd for the commercialisation of the former's cell-gene therapy programme.

IGB Real Estate Investment Trust's total comprehensive income or net profit for the quarter rose by 11.1% y-o-y to RM99.61mil on the back of revenue rising by 2.6% to RM162.56mil.

The Employees Provident Fund has ceased to be a substantial shareholder of Affin Bank Bhd after disposing of three million shares in the banking group.

Excel Force MSC Bhd said Chinese national Chen Hui had ceased to be a substantial shareholder after he disposed of 30mn shares or a 4.9% stake in the company for RM10.2mn.

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

Next In Business News

Oil gains 1% on hopes of firmer demand
JPMorgan investors weigh CEO Dimon’s strategy, succession plan
Muhibbah rides on Cambodian tourism uptick
Feytech gears up for expansion to meet growing demand
Ready to rise up the ranks again
SC working overtime to combat spread of scams
Russia and Malaysia sign tax agreement
GDP up 4.2% in 1Q24
Chinese firms invest in ‘green’ jet fuel

Others Also Read