Trading ideas: Maybank, KAB, Ibraco, PeterLabs, MCE, Euro, MFM, Johor Plantations, Taliworks, Keyfield, George Kent
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Malayan Banking Bhd has signed a letter of intent with the Ministry of Economy to support the Johor-Singapore Special Economic Zone and facilitate up to RM2.4bn in client investments over the next three to 10 years.
Kinergy Advancement Bhd 's unincorporated joint venture with Sinohydro Corporation (M) Sdn Bhd has secured a RM646.3mn engineering, procurement, construction and commissioning contract to build a 120-megawatt power plant facility in Labuan.
Ibraco Bhd targets to launch new residential and industrial development projects in Sarawak worth RM500mn this year.
Peterlabs Holdings Bhd said the Malaysian Anti-Corruption Commission conducted a raid at its principal offices and its subsidiary Thye On Tong Trading Sdn Bhd on Monday, after the company lodged a report to MACC on May 9 over alleged misconduct involving its executive director Datuk Loh Saw Foong.
MCE Holdings Bhd has formalised a 51:49 JV with Nanjing Chuhang Technology Co Ltd, a Chinese firm producing millimetre wave radars.
Chengco PLT has resigned as Euro Holdings Bhd auditor with immediate effect due to the suspension of the audit firm's registration by the Audit Oversight Board of the Securities Commission Malaysia.
Malayan Flour Mills Bhd has allocated RM215mn in capital expenditure for the FY25, of which RM160mn will go to its poultry integration segment and another RM100mn earmarked for expanding and upgrading farming infrastructure.
Johor Plantations Group Bhd posted a higher net profit of RM75.9mn in 1QFY25, compared to RM50mn in the same period last year.
Taliworks Corp Bhd reported a 30% YoY decline in its net profit for 1QFY25 at RM10.5mn versus RM15mn in the same quarter last year.
For 1QFY25, Keyfield International Bhd posted a lower net profit of RM20.7mn compared with RM30.3mn in the same period last year, while revenue declined by 18.5% to RM86.8mn from RM106.4mn, mainly due to reduced vessel revenue.
George Kent (Malaysia) Bhd returned to the black with a net profit of RM19mn in 4QFY25 against a net loss of RM28.6mn a year ago, on the back of higher revenue.
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