Trading ideas: KLK, Sapura Energy, Yinson, Hiap Teck, Crest Builder, Astro, EcoWorld Malaysia, Scientex, Pestech and Ranhill Utilities

KUALA LUMPUR: Stocks that could be on investors’ radar screens include KLK, Sapura Energy, Yinson, Hiap Teck, Crest Builder, Astro, EcoWorld Malaysia, Scientex, Pestech and Ranhill Utilities, said Apex Securities Research.

Kuala Lumpur Kepong Bhd (KLK) and its Singapore-incorporated wholly-owned subsidiary, KLK Plantations and Trading Pte Ltd, are acquiring more than a 90% stake in two Indonesian oil palm companies for a combined RM276.55mil.

Sapura Energy Bhd has been granted a second extension till May 31 next year to submit its Practice Note 17 (PN17) regularisation plan, which was supposed to be due on Nov 30, 2023.

Yinson Holdings Bhd posted a record net profit of RM248 million or 7.3 sen per share for the third quarter ended Oct 31, 2023 (3QFY2024), up 60% from RM155 million or 4.2 sen per share a year earlier as revenue grew 62% to RM2.81 billion from RM1.74 billion.

Hiap Teck Venture Bhd slipped back into the red with a net loss of RM9.43 million or 0.54 sen per share for its first quarter ended Oct 31, 2023 (1QFY2024), dragged by its losses from a joint venture entity.

Crest Builder Holdings Bhd has secured a RM314.5 million contract from UEM Land Bhd to construct 1,334 units of serviced apartments in two 53-storey blocks in Cheras, Kuala Lumpur.

Astro Malaysia Holdings Bhd posted its maiden net loss of RM47.05 million for its third quarter ended Oct 31, 2023 (3QFY2024) compared with a net profit of RM5.8 million in 3QFY2023, largely due to the voluntary separation scheme (VSS) exercise to reduce its headcount by 20% that cost the group RM52 million.

Eco World Development Group Bhd (EcoWorld) net profit for the fourth quarter ended Oct 31, 2023 (4QFY2023) nearly doubled to RM3.29 million from RM1.77 million a year ago, with quarterly revenue up 50.98% to RM844.45 million from RM559.28 million driven by the completion of a 92-acre land sale in Eco Business Park II.

Scientex Bhd net profit for the first financial quarter ended Oct 31, 2023 (1QFY2024) rose 28.6% to RM137.84 million from RM107.18 million a year earlier, driven by its property division.

Pestech International Bhd said its 60%-owned joint venture has secured an electrical substation construction project in Entinggan, Kuching, Sarawak from Syarikat SESCO Bhd for RM109.98 million.

Ranhill Utilities Bhd is undertaking a project under a related party transaction to reduce non-revenue water (NRW) in Johor for RM283.89 million.