MQ Market Updates

MQ Market Updates - 27 August 2024

MQ Trader
Publish date: Tue, 27 Aug 2024, 05:28 PM

Short selling in Notion Vtec Bhd's shares has been suspended for the second time in a week, after its share price dropped more than 15 per cent. (NST)

Catcha Digital Bhd (KL:CATCHA) is planning a special issue of up to 52 million new shares to Bumiputera investors to meet the Bumiputera equity requirement for public listed companies, following the implementation of its regularisation plan last year that involved the acquisition of iMedia Asia Sdn Bhd. (TheEdge)

Construction outfit GDB Holdings Bhd (KL:GDB) announced that it has obtained an adjudication decision that is favourable to the group in its dispute with KSK Land Sdn Bhd over payments to be paid following KSK Land’s termination of GDB's unit as a main contractor of the 8 Conlay project. (TheEdge)

Time Dotcom Bhd's net profit in the second quarter ended June 30, 2024 (2Q FY2024) fell to RM99.05 million from RM2.26 billion in the same quarter last year due to the discontinued operations of AIMS Data Centre business. (NST)

OSK Holdings Bhd’s net profit in the second quarter ended June 30, 2024 (2Q 2024) fell to RM128.70 million from RM131.03 million in the same quarter last year. (TheStar)

Agribusiness and food company FGV Holdings Bhd reported a net profit of RM86.3 million for the second quarter of 2024 (2Q24), a turnaround from a net loss of RM12.8 million in the same quarter of the previous year. (NST)

Sime Darby Bhd more than doubled net profit for the financial year ended June 30, 2024 to RM3.3 billion, largely due to a RM2 billion gain from selling Ramsay Sime Darby Health Care (RSDH) in December 2023. (NST)

Hibiscus Petroleum Bhd recorded a lower net profit of RM108.68mil in the final quarter of its financial year, compared to RM123.28mil in the year-ago quarter. (TheStar)

Ajinomoto (Malaysia) Bhd's share price jumped as much as seven per cent to RM15.50 in early trade following its surge in net profit for the first quarter ended June 30, 2024 (1QFY25). (NST)

UOA Development Bhd (KL:UOADEV) said on Tuesday its net profit slipped 4.4% year-on-year in the second quarter as higher expenses offset marginal increase in revenue. (TheEdge)

Bermaz Auto Bhd (KL:BAUTO), which primarily assembles Mazda-branded vehicles and distributes Kia vehicles in Malaysia, on Tuesday said that it does not expect the newly implemented e-invoicing to adversely affect its businesses. (TheEdge)

Infraharta Holdings Bhd's share price fell as much as six per cent after it said it is challenging allegations and reliefs sought by Consortium Zenith Construction Sdn Bhd (CZC) against its subsidiary in relation to the major roads and Penang third link (PMRT) project. (NST)

RHB Bank Bhd's net profit slipped 10.7 per cent year-on-year (YoY) to RM722.31 million in the second quarter ended June 30, 2024 (Q2 2024) due to higher operating expenses (opex) and higher allowances for credit losses. (NST)

Shares of Hong Leong Industries Bhd (KL:HLIND) surged on Tuesday to a new all-time high, thanks to record profits at the motorcycle assembler on the back of better margins and other one-off gains. (TheEdge)

IOI Corporation Bhd (IOI Corp) recorded a lower net profit of RM1.109 billion for the financial year ended June 30, 2024 (FY2024) from RM1.114 billion in FY2023. (NST)

A Rohas Tecnic Bhd-led consortium has secured a supply contract for Package 2 of Sg. Rasau Water Treatment Plant from Gamuda Bhd's subsidiary Gamuda M&E Sdn Bhd worth RM123 million. (NST)

Source: New Straits TimesThe Edge MarketsThe Star 27 August 2024

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