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KUALA LUMPUR: Companies with trading stock in investors’ spotlights include Perak Corp, UMW, Spritzer, Velesto, Tan Chong Motor, Guan Chong, UMediC, Heineken and Tiong Nam, said Apex Securities Research.
Perak Corporation Bhd has appointed Advancecon Development Sdn Bhd as a joint venture partner for the development of the main infrastructure for the Silver Valley Technology Park (SVTP) in Perak.
UMW Holdings Bhd’s net profit for the third quarter ended Sept 30, 2023 (3QFY2023) jumped 71.9% to RM173.11 million from RM100.70 million a year ago, as it recorded higher revenue with improved contributions from all its businesses, driven by sustained demand.
Spritzer Bhd’s net profit surged 48.5% to a record high of RM16.97 million in the third quarter ended Sept 30, 2023 (3QFY2023), from RM11.43 million a year ago, as the company sold more bottles of drinking water amid recovery in tourism activities plus the hot weather.
Velesto Energy Bhd said the contract between its unit Velesto Drilling Sdn Bhd and Carigali Hess Operating Company Sdn Bhd has been extended for another one year and six months, with an estimated contract value of US$74 million (RM346.39 million).
Tan Chong Motor Holdings Bhd posted a net loss of RM50.70 million for the third quarter ended Sept 30, 2023 (3QFY2023), compared with a net profit of RM6.88 million in the same period last year amid persistent soft market sentiments driven by inflationary pressures and stiffer competition in both the local and overseas markets.
Guan Chong Bhd saw its net profit rise 10% to RM33.88 million in the third quarter ended Sept 30, 2023 (3QFY2023) from RM30.76 million a year earlier, on higher average selling prices of industrial chocolates and stabilisation of energy prices at lower levels following Russia-Ukraine tensions last year.
UMediC Group Bhd is planning to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia, having listed merely over a year ago in July 2022.
Heineken Malaysia Bhd’s net profit for the third quarter ended Sept 30, 2023 (3QFY2023) dropped 19.7% to RM87.33 million, from RM108.74 million a year before, due to weak consumer sentiment driven by rising cost of living and macro-economic concerns.
Tiong Nam Logistics Holdings Bhd saw its net profit for its second financial quarter ended Sept 30, 2023 (2QFY2024) fall 26.4% to RM1.22 million from RM1.65 million a year earlier, on increased finance cost and direct operating expenses.
LKL International Bhd has ditched plans to open up the digital healthcare market in Malaysia with Singapore-based Serv Medical Pte Ltd.
