KUALA LUMPUR: Stocks to watch today include Southern Cable Group Bhd
, Salcon Bhd, Malaysian Pacific Industries Bhd (MPI), Hektar Real Estate Investment Trust (Hektar REIT), Duopharma Biotech Bhd, E.A. Technique (M) Bhd and Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE).
Southern Cable has secured supply contracts totaling RM403.6mil from Tenaga Nasional Bhd (TNB). The company said the contracts will entail the supply and delivery of underground power cables and conductors to TNB’s distribution network division for a one-year term commencing February 2025.
Salcon has accepted a letter of award from Pengurusan Aset Air Bhd to replace old and damaged pipes in Kota Bharu, Kelantan, worth RM70.52mil.
MPI posted a higher revenue of RM530.5mil in the second quarter ended Dec 31, 2024 compared to RM522.7mil in the same quarter a year ago.
The semiconductor company’s net profit was recorded at RM40.03mil for the quarter under review compared to RM32.15mil a year ago on the back of lower operating costs.
Hektar REIT is acquiring a property with factory buildings for industrial, warehousing, and office use in Bayan Lepas Industrial Park (Phase 4), Penang, from Microlead Precision Technology Sdn Bhd for RM30mil in cash.
For the financial year ended Dec 31, 2024, Duopharma’s net profit rose to RM62.65mil from RM52.65mil a year earlier, while revenue improved to RM813.70mil from RM704.73mil previously.
MMHE posted a fourth-quarter net profit of RM21.38mil, which was more than triple the net profit of RM6.18mil in the year-ago quarter on the back of improved profitability in its heavy engineering and marine segments.
E.A. Technique has regularised its financial condition and no longer triggers any of the criteria under Paragraph 2.1 of PN17 of the Main Market Listing Requirements of Bursa Securities.
It said it will be uplifted from being classified as a PN17 company effective from 9.00 am, on Feb 20.
The company also changed its name to Avangaad Bhd, effective from 9 am on Feb 24.
