News by Justin Lim

Malaysia Building Society Bhd (MBSB) shares were actively traded on news that the bank will buy out Permodalan Nasional Bhd's (PNB) entire stake in Malaysian Industrial Development Finance (MIDF) in a RM1.01 billion share deal.

The two parties are MCC Overseas (M) Sdn Bhd and Guandong Bright Dream Robotics Co Ltd.

Ekovest Bhd’s net loss doubled to RM15.86 million in the third quarter ended March 31, 2023 (3QFY2023) from RM7.96 million a year ago, despite improved revenue, as interest expenses rose while it booked a deferred tax expense of RM38.72 milion.

Eastern & Oriental Bhd’s net profit plunged 79.64% to RM16.09 million in the fourth quarter ended March 31, 2023 (4QFY2023), from RM79.02 million a year ago, amid a sharp increase of other expenses at RM120.51 million, from RM23.63 million a year before. 

Vestland Bhd has bagged an RM170 million design and build contract to undertake the main building and associated works for the small office home office (SOHO) and retail units in Subang Jaya.

... as global recession fears and supply demand imbalance in China are expected to stymie demand recovery momentum.

OSK Holdings Bhd registered a net profit of RM115.09 million, or earnings per share of 5.58 sen, in the first quarter ended March 31, 2023 (1QFY2023), a 36.3% increase from RM84.44 million or 4.09 sen per share a year before.

YTL Corp Bhd’s net profit was flat at RM414.14 million in the third quarter ended March 31, 2023 (3QFY2023) from RM414.61 million a year before.

YNH Property Bhd’s land deal with Sunway Group Bhd seems to have hit a stumbling block as Bursa Securities has raised more questions on the transaction.

Construction firm Kerjaya Prospek Group Bhd anticipates that its profit margins will remain steady in the current year  in comparison to the previous year, because of lower building material costs and a selective approach to which jobs the company tenders for.