KUALA LUMPUR: Stocks to watch today include Top Glove Corp Bhd
, LKL International Bhd, Kawan Renergy Bhd (Kenergy), Edelteq Holdings Bhd, Catcha Digital Bhd and Malaysia Airports Holdings Bhd (MAHB).
Top Glove posted a net profit of RM5.47mil, or earnings per share of 0.07 sen in 1QFY25 compared with a net loss of RM57.7mil, or loss per share of 0.72 sen posted in the year-ago quarter.
Revenue for the quarter surged 79.5% to RM885.9mil against RM493.4mil last year.
Hong Leong Investment Bank (HLIB) has advised shareholders of MAHB to accept the takeover offer of RM11 per share from a consortium led by Khazanah Nasional Bhd and the Employees Provident Fund (EPF).
In an Independent Advice Circular (IAC) filed with Bursa Malaysia, HLIB stated that the offer is "not fair but reasonable" and recommended that shareholders accept the offer as it represents a chance for them to realise their investments.
Non-interested directors, however, disagree with HLIB’s recommendation, deeming the offer unfair and unreasonable.
They recommend that shareholders “reject the offer, as they do not concur” with HLIB’s recommendation for shareholders to accept the offer.
LKL International’s subsidiary, LKL Advance Metaltech Sdn Bhd, has secured a RM24.55mil contract from Universiti Kebangsaan Malaysia for the supply, installation, and renovation of dental chairs and accessories.
Kenergy posted a net profit of RM5.32mil for Q4, bringing its full-year net profit to a record RM19.22mil, with revenue reaching RM113.1mil.
Edelteq has proposed to acquire the remaining 30% equity interest in Edelteq Ventures Sdn Bhd (EVSB), a subsidiary of the company, from Hana Microelectronics Public Company Limited for RM132.5mil cash.
Catcha Digital’s wholly-owned subsidiary, iMedia Asia Sdn Bhd has entered into a share sale agreement to acquire a 60% interest in Drive 2 Digital Sdn Bhd (D2D) for RM16.2mil cash.
