Trading ideas: Maybank, Hong Leong Bank, HLFG, Public Bank, Farm Fresh, Hap Seng, Press Metal, Capital A, PPB, IJM, MYEG and Pecca

KUALA LUMPUR: Companies in the news include Maybank, Hong Leong Bank, HLFG, Public Bank, Farm Fresh, Hap Seng, Press Metal, Capital A, PPB, IJM, MYEG and Pecca, said Apex Securities Research.

Malayan Banking Bhd (Maybank)’s net profit rose 8.3% year-on-year (y-o-y) for the fourth quarter ended Dec 31, 2023 (4QFY2023) to RM2.39 billion, compared with RM2.21 billion for 4QFY2022.

Hong Leong Bank Bhd (HLB) reported a 4.4% growth in net profit for the second quarter ended Dec 31, 2023 (2QFY2024) to RM1.09 billion.

Hong Leong Financial Group Bhd (HLFG), which owns 64% of HLB, also eked out a 2.5% growth in net profit to RM831.87 million for 2QFY2024, from RM811.5 million a year ago.

Public Bank Bhd said its net profit fell 5.73% in the fourth quarter to RM1.62 billion.

Farm Fresh Bhd’s net profit rose 8.91% to RM20.44 million for the third quarter ended Dec 31, 2023 (3QFY2024), from RM18.77 million a year before.

Hap Seng Consolidated Bhd’s fourth quarter ended Dec 31, 2023 (4QFY2023) net profit fell 61.88% to RM37.36 million, from RM98.02 million a year ago.

Press Metal Aluminium Holdings Bhd’s fourth quarter net profit rose 22.89% to RM320.46 million from RM260.78 million a year earlier.

Capital A Bhd is carving out the manager of its aviation brand AirAsia and injecting it into Nasdaq-listed special purpose acquisition company (SPAC) Aetherium Acquisition Corp for US$1.15 billion (RM5.48 billion) — a move to pave way for its exit from Practice Note 17 (PN17) status, besides selling its aviation business to AirAsia X Bhd.

PPB Group Bhd’s full-year net profit stood at RM1.39 billion, down 36.53% y-o-y from RM2.2 billion, while revenue dropped 7% to RM5.72 billion from RM6.15 billion during the same period a year prior.

IJM Corp Bhd’s net profit rose 34.3% to RM100.43 million for its third quarter ended Dec 31, 2023 (3QFY2024) from RM74.79 million a year earlier.

MyEG Services Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) doubled to RM150.16 million from RM74.69 million a year earlier.

Pecca Group Bhd has reported another record-breaking financial quarter with both revenue and net profit at all-time highs. The automotive upholstery maker’s net profit jumped 59.1% to RM13.38 million for the second financial quarter ended Dec 31, 2023 (2QFY2024).