KUALA LUMPUR: Maxis Bhd
, 99 Speed Mart Retail Holdings Bhd, Steel Hawk Bhd, Milux Corp Bhd, Carlsberg Brewery Malaysia Bhd, Westports Holdings Bhd and Fajarbaru Builder Group Bhd are among the stocks to watch on Monday.
Maxis saw its net profit jump 27.5% to RM366mil for the third quarter ended Sept 30, 2024 (3Q24) from RM287mil in the same period last year, driven by both higher service revenue as well as prudent cost management.
Tts revenue rose 5.5% to RM2.58bil in 3Q24 against RM2.44bil previously, contributed by growth in both service revenue of 3.2% and device revenue of 22.2%.
99 Speed Mart’s net profit fell to RM107.16mil in 3Q24 from RM111.05mil in 3Q23.
Revenue, however, jumped 8.8% to RM2.55bil from RM2.34bil previously, primarily driven by the expansion of the outlet’s network.
Steel Hawk’s wholly-owned subsidiary, Steel Hawk Engineering Sdn Bhd (SHESB) has secured a subcontract from Petra Resources Sdn Bhd to provide offshore living quarter (LQ) maintenance and repair services for EPOMS offshore facilities in Sarawak.
Milux has received an unconditional mandatory takeover offer notice at 43.2 sen per share from several joint offerors to acquire the remaining shares not held by them.
In 3Q24, Carlsberg’s net profit rose 19.8% to RM90.9mil, or earnings per share of 29.75 sen compared with RM75.9mil, or 24.84 sen in the same corresponding quarter last year.
Revenue for the period rose to RM555.9mil against RM513.4mil posted last year.
Westports posted a higher net profit of RM233.07mil in 3Q24, compared to RM195mil in the same quarter a year ago.
Revenue for the quarter rose to RM572.57mil versus RM542.31mil previously.
Fajarbaru has pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192mil.
Meanwhile, Apex Securities expects the FBM KLCI to maintain its upward trend this week, driven by rate cuts, China’s commitment to supportive monetary policy for economic recovery, and strong backing from the recent Republican election win.
“We expect the FBM KLCI to float above the 1,600 psychological level overtime. Still, the weakness in trading liquidity may cap any potential gains over the lower liners.
“We continue to favour the plantation sector that is riding onto the uninterrupted rally in CPO prices which steadied above RM5,000 per tonne. Meanwhile, the technology sector may advance in tandem with the gains in Nasdaq last Friday,” Apex said.
