Trading ideas: YTL Power, YTL Corp, Sime Darby Property, Malakoff, Axis REIT, KLCCP, Inari, Allianz, DRB-Hicom, BAT, Velesto, MSM


KUALA LUMPUR: Here are the headlines from Corporate Malaysia that are expected to spur trading interest.

YTL Power International Bhd posted a 34.5% year-on-year increase in net profit for its 3QFY2024, mainly driven by its power generation and investment holding segment

YTL Corp Bhd posted a 19.8% increase in net profit for its 3QFY2024, as all of its business segments, ie. construction, cement and building materials, property investment and development, management services and others, hotels, and utilities, reported higher earnings.

Sime Darby Property Bhd will build and lease out a hyperscale data centre at its Elmina Business Park in a deal worth RM2bn, marking the group’s entry into the data centre segment.

Malakoff Corp Bhd is acquiring a 51% equity interest in ZEC Solar Sdn Bhd and a 49% stake in TJZ Suria Sdn Bhd from Zelleco Engineering Sdn Bhd for Zelleco Engineering Sdn Bhd for RM27mn.

Axis Real Estate Investment Trust (Axis-REIT) is acquiring two properties in Selangor from Cycle & Carriage Bintang Bhd for a combined value of RM125mn.

KLCCP Stapled Group’s net profit for the 1QFY2024 rose to RM188.0mn from RM180.6mn in the same quarter a year ago. Revenue increased 7.4% to RM408.9mn from RM380.7mn previously, underpinned by the continued growth across all its business segments

Inari Amertron Bhd’s net profit rose 29% in the third quarter from a year earlier thanks to higher loading volume and currency gains. Revenue for the quarter surged 26% year-on-year to RM347.6mn from RM275.6mn.

Allianz Malaysia Bhd posted a higher net profit of RM189.8mn during the 1QFY2024 on higher contribution from the life insurance segment.

DRB-Hicom Bhd’s net profit for the 1QFY2024 dropped 15.2% to RM91.5mn no thanks to higher taxation charges.

British American Tobacco (Malaysia) Bhd posted a 34.5% YoY lower net profit for the 1QFY2024, dragged down by higher operating expenses due to ongoing investments as the tobacco group transitions towards a multicategory business

Velesto Energy Bhd’s net profit for the 1QFY2024 soared to RM46.8mn from RM14.2mn a year ago. The revenue improved to RM338.6mn from RM287.3mn previously.

MSM Malaysia Holdings Bhd reported its second consecutive quarter of net profit as better selling prices and utilitisation offset higher production costs. Net profit for the 1QFY2024 was RM41.7mn compared to a net loss of RM35.9mn in the same period last year.

Cahya Mata Sarawak Bhd’s net profit fell 10.1% to RM38.3mn for the 1QFY2024 from RM42.6mn a year earlier. The main revenue-contributing cement division logged a 6.4% dip in revenue to RM149.2mn.

Duopharma Biotech Bhd foresees challenges from a strong US dollar, high electricity tariffs, and interest rates impacting manufacturing margins and overall profitability. Duopharma’s 1Q24 net profit fell 32.5% to RM15.3mn.

Samaiden Group Bhd’s growth prospects are boosted by government initiatives such as the Corporate Green Power Programme, the launch of the fifth large-scale solar programme, and the Green Electricity Tariff programme.

HSS Engineers Bhd said its net profit for the 1QFY2024 improved to RM4.4mn from RM4.2mn in the previous corresponding quarter, mainly contributed from project management and construction supervision projects.

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