Trading ideas: YTL Power, IHH, Berjaya Asset, Nestcon, Aumas, Hibiscus, HeiTech Padu, Sime Darby, Innoprise, UOA, Bintulu, Kawan, 99 Speed Mart, MSM, CTOS


KUALA LUMPUR: Here are the announcements that made headlines in Corporate Malaysia.

Bullish Aim Group and YTL Communications Sdn Bhd, a subsidiary of YTL Power International Bhd, have formed a strategic joint venture to develop next-generation common fibre infrastructure.

IHH Healthcare Bhd is expanding its footprint in Sarawak with a RM400mn investment in Gleneagles Hospital Kuching. The hospital will become the 19th in IHH Healthcare Malaysia’s network.

Berjaya Assets Bhd’s subsidiary, Berjaya Assembly Sdn Bhd, has entered into a RM10mn joint venture with HSHP Auto Technology Sdn Bhd and PG Car Centre Sdn Bhd to form Berjaya Autotech Sdn Bhd, to expand its automotive assembly business.

Nestcon Bhd’s wholly-owned subsidiary, Nestcon Infra Sdn Bhd, has accepted a RM58mn letter of award from ST Dynamo DC Sdn Bhd for infrastructure works in Edupark West, Johor Bahru.

Aumas Resources Bhd has refuted claims that its subsidiary, Wullersdorf Resources Sdn Bhd, has been operating without a valid license or Environmental Impact Assessment approval.

 Hibiscus Petroleum Bhd repurchased 305,400 ordinary shares for RM520,695, according to a bourse filing. The oil and gas exploration and production firm acquired the shares at prices between RM1.69 and RM1.71 per share.

Heitech Padu Bhd, together with its consortium partner Austria-based Voith Hydro GmbH & Co KG, has secured a letter of acceptance from TNB Power Generation Sdn Bhd for a RM1.04bn hydroelectric facility project.

Sime Darby reported a net profit of RM1.1bn, down from RM2.9bn in 6MFY23, despite revenue increasing to RM36bn from RM29.5bn due to an increasingly challenging market, particularly in China, where margins were impacted by intense competition.

Innoprise Plantations Bhd recorded a more than twofold increase in 4QFY24 net profit, reaching an all-time high of RM36.2mn compared to RM16.6mn a year ago, driven by stronger crude palm oil prices.

UOA Development Bhd’s net profit for FY24 rose 2.8% YoY to RM287.3mn, up from RM279.6mn in FY23, supported by stronger revenue due to contributions from ongoing developments.

Bintulu Port Holdings Bhd, the operator of East Malaysia’s largest container port, reported an 11.8% YoY decline in 4QFY24 net profit to RM40.9mn from RM46.3mn, despite achieving its highest-ever quarterly revenue since its 2001 listing.

Kawan Food Bhd reported its highest-ever quarterly net profit of RM13.1mn from RM8.9mn a year earlier, driven by a RM7.7mn foreign exchange gain.

99 Speed Mart Retail Holdings Bhd’s net profit for FY24 rose 22.5% YoY to RM490.3mn from RM400.2mn, supported by higher revenue and other operating income.

MSM Malaysia Holdings Bhd posted a strong turnaround in 4QFY24, driven by lower production costs. The producer of Gula Prai refined sugar recorded a net profit of RM71.7mn, up from RM42.9mn in 4QFY23.

CTOS Digital Bhd’s net profit fell 42.2% YoY to RM32.4mn for 4QFY24 from RM56mn, mainly due to higher tax expenses arising from the absence of a tax credit.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Chinese carmaker Geely to take Zeekr unit private at US$6.83bil valuation
Chin Hin acquires land in Segambut for RM52mil
BASF Petronas pays RM52mil to settle electricity dispute
Govt to evaluate possibility of liberalising foreign equity caps in certain sectors
Ringgit strengthens against US dollar as China economic data boosts sentiment
Master Tec signs MoU with Senari Synergy to expand into Sarawak
DXN focuses on ready-to-eat and -cook products, eyes further global spread
Luster reports industrial accident at glove unit
Matrade records RM120mil in trade prospects from Korea Import Fair debut
Luxchem acquires five pieces of land in Klang for RM46mil

Others Also Read