Trading ideas: MAHB, YTL Power, MPHB, IHH, Kerjaya Prospek, E&O, Aurelius, Ageson, UUE

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

Malaysia Airports Holdings Bhd has granted Segi Astana Sdn Bhd, which is 30% owned by MAHB and 70% held by WCT Holdings Bhd, a further 22-year concession extension till 2069 to operate gateway @ klia2. Segi Astana.

YTL Power International Bhd’s 70% subsidiary SIPP Power Sdn Bhd is buying 405.2mn shares, or a 31.4% stake, in Ranhill Utilities Bhd for RM405.2mn or 99.5sen/share from its major shareholder Tan Sri Hamdan Mohamad and his vehicles.

MPHB Capital Bhd’s controlling shareholder and chairman Tan Sri Surin Upatkoon plans to take the credit services provider private through a selective capital reduction totalling RM748.1mn.

IHH Healthcare Bhd is still in the midst of looking for potential mergers and acquisitions in Indonesia and Vietnam.

Kerjaya Prospek Property Bhd plans to launch two new residential projects in the Klang Valley with a combined gross development value of RM395.0mn this year.

Eastern & Oriental Bhd plans to launch 3 new projects in the state with an estimated gross development value of RM1.6bn in 2024 and 2025.

Aurelius Technologies Bhd has proposed to undertake a private placement of up to 39.4mn shares, or 10% of its issued share capital, mainly to build a new manufacturing plant in Kulim Hi-Tech Park in Kedah.

Kenanga Investment Bank Bhd and CGS International have agreed to underwrite Well Chip Group Bhd’s initial public offering on the Main Market of Bursa Malaysia.

Ageson Bhd has accepted a letter of award from R&C Cergas Teguh Sdn Bhd to carry out the sub-contract works for a 40-storey service suite at Jalan Terowong Sepanggar, Sabah, worth RM54.3mn.

UUE Holdings Bhd began taking orders from investors for its ACE Market initial public offering that would raise up to RM39.0mn. Applications for the IPO shares will close on 18 June 2024 and listing has been scheduled for 2 July 2024.

CelcomDigi Bhd 1QFY24 net profit rose 18.0% YoY to RM376.5mn, thanks largely to a writeback on provisions.

UEM Sunrise Bhd 1QFY24 net profit halved 46.7% YoY to RM8.2mn as sales fell while operating expenses rose.

FGV Holdings Bhd posted a net loss of RM13.5mn for 1QFY24, versus net profit RM12.1mn a year ago, due to reduced profits from almost all divisions.

IGB Bhd net profit surged 2-fold YoY to RM185.3mn for the 1QFY24, thanks to land disposal gains.

Supermax Corporation Bhd 3QFY24 net loss narrowed by 98.3% YoY to RM686.0k thanks to improved profit margins.

Kenanga Investment Bank Bhd net profit more than doubled to RM22.8mn in 1QFY24, driven by higher trading and investment income, management fee income and higher share of profit from its associate company.

Star Media Group Bhd 1QFY24 registered a net loss of RM193,000 versus a net profit of RM1.1mn a year earlier, dragged by higher operating costs.

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Trading ideas , MAHB , YTL Power , MPHB , IHH , Kerjaya Prospek , E&O , Aurelius , Ageson , UUE


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