3 days ago
Trading ideas: Alliance, LSH, LYC, 7-Eleven, RHB, Master Tec, Mah Sing, CIMB, Capital A, SKP, Yinson, Berjaya, BAT, Bintulu, Bank Islam
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Alliance Bank Malaysia Bhd received 99.9% shareholder approval at its EGM for the proposed RM600mn renounceable rights issue, priced at RM3.33 per rights share on a 2-for-17 basis.
LSH Capital has proposed to acquire three land parcels along Persiaran Titiwangsa 3, KL, for RM17.4mn cash via its wholly owned unit, LSH Development.
LYC Healthcare has been classified as a GN3 company after shareholders' equity fell below 25% of issued capital based on FY25 unaudited results.
7-Eleven Malaysia announced the resignation of its non-independent non-executive chairman Datuk Farhash Wafa Salvador, effective after the AGM.
RHB Bank has appointed Nurjesmi Mohd Nashir as its new head of wholesale banking effective July 1, succeeding Datuk Fad'l Mohamed, who now leads Bursa Malaysia.
Master TEC Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia, signalling its readiness to comply with the stricter regulatory framework.
Mah Sing Group is seeking new partners for a 17.55-acre data centre project in Bangi after its agreement with Bridge Data Centres lapsed. A separate 35.68-acre collaboration for a 200MW data centre with BDC remains active until Oct 28.
Mah Sing Group reported a 9.98% YoY rise in 1QFY25 net profit to RM66.04mn, with revenue up 16.4% YoY to RM649.69mn, driven by progressive billings.
CIMB Group posted a 1.9% YoY increase in 1QFY25 net profit to RM1.97bn, supported by higher interest income and lower provisions.
Capital A swung to a 1QFY25 net profit of RM689.57mn (from RM91.55mn loss a year ago), lifted by RM882.7mn earnings from its aviation segment (classified as discontinued).
SKP Resources saw 4QFY25 net profit rose 60% YoY to RM30.3mn from RM18.9mn in 4QFY24, on stronger contributions from its core business.
Yinson reported FY25 net profit of RM1.25bn, up 66.1% YoY, after reassessing tax treatment for its Netherlands offshore ops.
Berjaya Corp remained in the red for the fourth straight quarter with a 3QFY25 net loss of RM92.34mn, versus a RM689.92mn profit in 3QFY24.
BAT Malaysia reported a weaker 1Q25 net profit of RM23.3mn, down from RM29.9mn YoY, on the back of lower revenue of RM321.9mn (-21.9% YoY).
Bintulu Port posted a 36% YoY drop in 1QFY25 net profit to RM28.4mn due to lower port activity and higher admin expenses. Revenue declined 3.3% YoY to RM201.7mn.
Bank Islam reported a 3% YoY decline in 1QFY25 net profit to RM126.27mn due to higher provisions and overheads. Impairment allowances surged 89% YoY to RM79.78mn.
