Wawasan Dengkil rallies over 16pct, nears 25 sen IPO level
The counter opened flat at 21 sen before climbing 16.67 per cent or 3.5 sen to a morning high of 24.5 sen, amid a broader market optimism that also saw a strong debut from Signature Alliance Group Bhd.
The FTSE Bursa Malaysia KLCI also opened higher, gaining 2.73 points or 0.18 per cent to 1,510.70. Most sectoral indices were in the green, except energy, financial services, healthcare and telecommunications and media.
By 11.34am, the earthworks and civil engineering firm had eased to 23.5 sen, still up 11.90 per cent with 3.57 million shares changing hands.
Since its ACE Market debut on March 25, the stock has touched a low of 20.5 sen, after ending its first trading day two sen, or eight per cent, lower at 23 sen.
The firm has breached the IPO price of 25 sen twice over the past 72 days, reaching a high of 25.5 sen, its highest level so far.
Wawasan Degkil, which specialises in road, drainage and sewerage system construction, posted a net profit of RM2.13 million for its third financial quarter ended March 31, 2025.
The earnings were lifted by contributions from its construction segment and lower depreciation costs in its machinery rental unit.
Revenue came in at RM40.63 million, mainly from ongoing infrastructure projects such as the LRT Line 3, Sungai Long and Setia Alaman developments.
No year-on-year comparisons were available as this marks Wawasan Dengkil's first financial disclosure since listing.
As at end-March, the group held RM24.39 million in cash and bank balances. Total liabilities stood at RM96.09 million, including RM52.75 million in bank borrowings.
The group said it remains focused on delivering its RM369.6 million order book, comprising 13 active projects. It also plans to pursue solar infrastructure jobs under the National Energy Transition Roadmap.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
11 hours ago
- New Straits Times
Bursa Malaysia maintains uptrend, ends on positive note
KUALA LUMPUR: Bursa Malaysia reversed yesterday's losses to continue its upward momentum to close higher, driven by persistent buying in selected heavyweights, amid mixed sentiment in regional markets, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.66 points, or 0.29 per cent, to settle at 1,592.87 from Wednesday's close of 1,588.21. The benchmark index opened 3.71 points firmer at 1,591.92, and moved between 1,589.88 and 1,596.02 throughout the day. However, the broader market was slightly negative with decliners beating advancers 522 to 513, while 491 counters were unchanged, 1,068 untraded and 17 suspended. Turnover widened to 2.67 billion units worth RM2.87 billion from 2.55 billion units worth RM2.50 billion on Wednesday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said major Asian indices also closed higher despite broadly negative cues from Wall Street overnight, which saw strong selling in technology stocks. "On the local bourse, the benchmark index continues to display encouraging momentum, reflecting improving sentiment and renewed investor confidence. Optimism is building as the index edges closer to the key 1,600 psychological level, opening the door for further gains. "Overall, the outlook remains constructive, with opportunities for growth as confidence builds across regional markets. As such, we anticipate the FBM KLCI to move within the 1,580–1,600 range towards the weekend," he told Bernama today. Among the heavyweights, Maybank and Tenaga Nasional slipped 2.0 sen each to RM9.78 and RM13.64, respectively, Public Bank trimmed 1.0 sen to RM4.45, IHH Healthcare declined 7.0 sen to RM6.81, while CIMB jumped 9.0 sen to RM7.45. Of the most active counters, Tanco added 1.0 sen to 74 sen, Petronas Chemicals soared 58 sen to RM4.76, NexG went up 6.0 sen to 45 sen, and Lotte Chemical advanced 2.5 sen to 59 sen.
Focus Malaysia
13 hours ago
- Focus Malaysia
Bursa Malaysia maintains uptrend, ends on positive note
BURSA Malaysia reversed yesterday's losses to continue its upward momentum to close higher, driven by persistent buying in selected heavyweights, amid mixed sentiment in regional markets, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.66 points, or 0.29 per cent, to settle at 1,592.87 from Wednesday's close of 1,588.21. The benchmark index opened 3.71 points firmer at 1,591.92, and moved between 1,589.88 and 1,596.02 throughout the day. However, the broader market was slightly negative with decliners beating advancers 522 to 513, while 491 counters were unchanged, 1,068 untraded and 17 suspended. Turnover widened to 2.67 billion units worth RM2.87 bil from 2.55 billion units worth RM2.50 bil on Wednesday. ‒ Aug 21, 2025
New Straits Times
17 hours ago
- New Straits Times
Bursa Malaysia ends morning session higher, lifted by blue chips
KUALA LUMPUR: Bursa Malaysia ended the morning session higher as investors bought select heavyweight stocks, led by the industrial products and services, as well as financial services counters, amid cautious sentiment in regional markets, said an analyst. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.41 points to 1,592.62 from Wednesday's close of 1,588.21. The benchmark index opened 3.71 points firmer at 1,591.92 and moved between 1,590.31 and 1,596.02 in the morning trading session. The market breadth, however, was negative, with 457 decliners outpacing 420 gainers, while 429 counters were unchanged, 1,288 untraded, and 17 suspended. Turnover stood at 1.54 billion units worth RM1.31 billion. Thong Pak Leng, Rakuten Trade Sdn Bhd's vice-president of equity research, said the recent "accumulation stance" from local institutions has supported the market, thus he expects the index to hover within the 1,585-1595 points range today. "Wall Street closed overnight on a mixed note as traders continued to take profit on tech stocks, fearing prevailing high valuations. In addition, the sentiment may also be affected by the statement from the US Federal Reserve that a rate cut may not be so soon due to heightening inflationary pressure," he told Bernama today. Among the heavyweight counters, Maybank was flat at RM9.80, CIMB added 10 sen to RM7.46, Nestle gained 50 sen to RM89.50, and Petronas Chemicals soared 52 sen to RM4.70. Among the most active counters, Green Packet earned half a sen to 4.5 sen, Tanco added one sen to 74 sen, while Borneo Oil was flat at half a sen. Across the broader market, the FBM Emas Index gained 20.74 points to 11,803.57, the FBMT 100 Index added 18.97 points to 11,587.27, and the FBM Emas Shariah Index went up 12.25 points to 11,711.59. The FBM Mid 70 Index slipped 30.74 points to 16,572.72, and the FBM ACE Index fell 0.88 of a point to 4,695.04. Sector-wise, the Financial Services Index climbed 51.22 points to 18,216.36, the Plantation Index increased 12.37 points to 7,604.97, and the Industrial Products and Services Index inched up 2.26 points to 162.99. The Energy Index slipped 1.46 points to 748.76.
