Trading ideas: MAHB, Capital A, Chin Hin, Cypark, Gadang, Comfort Gloves, HHRG, Haily

  • Business
  • Wednesday, 24 Apr 2024

KUALA LUMPUR: Here is a recap of the news headlines from Corporate Malaysia.

Malaysia Airports Holdings Bhd’s passenger traffic at its airports in Malaysia and Türkiye continued to recover in the 1Q24.

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.

Chin Hin Group Bhd’s conditional mandatory takeover offer to acquire the remaining shares it does not own in Signature International Bhd has turned unconditional, after it aggregated more than 50% of the voting shares.

Cypark Resources Bhd announced that its 100MWac Large Scale Solar 3 hybrid solar plant project reached the Initial Operations milestone on 21 April 2024.

Gadang Holdings Bhd will appeal to the Economic Planning Unit for a waiver of the Bumiputera equity requirement to facilitate its acquisition of a 21.1-acre land in Kwasa Damansara.

Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built 3 storey warehouse and packing department in Taiping, Perak on Tuesday morning.

HHRG Bhd aims to raise between RM16.1mn and RM18.1mn through a private placement of up to 10.0% of its expanded issued share capital to yet-to-be identified third-party investors, at a price to be fixed.

Haily Group Bhd has secured a RM109.5mn contract to undertake the construction and completion of 332 units of double-storey terrace houses in Pontian, Johor.

Crest Builder Holdings Bhd has won a RM486.0mn contract to build three blocks of condominiums in Mon't Kiara.

AHB Holdings Bhd’s foray into the electric vehicles business has encountered a setback as its planned acquisition of a 51.0% stake in automotive distributor CAF Motor Sdn Bhd was mutually terminated.

Inta Bina Group Bhd has accepted a letter of award from Next Delta Sdn Bhd for the construction and completion of main building works at Pekan Country Heights, Selangor worth RM169.7mn.

Axis Real Estate Investment Trust reported a 39.5% YoY surge in its net trust income to RM42.3mn for the 1QFY24, attributable to post-development contributions from its Bukit Raja Distribution Centre 2, and new tenancies in its Shah Alam Distribution Centre 3.

DXN Holdings Bhd 4QFY24 net profit rose 43.2% YoY to RM79.0mn on the back of higher revenue.

KIP Real Estate Investment Trust 3QFY24 net property income rose 10.1% YoY to RM18.1mn mainly due to stronger performance from its retail properties.

Ramssol Group Bhd 1QFY24 net profit rose 123.5% YoY to RM4.2mn mainly due to certain projects with higher profit margin and the distributorship of HCM licences.

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