News by Justin Lim

CapitaLand Malaysia Trust (CLMT) expects its earnings momentum to sustain in the second half of this year, bolstered by strong consumer spending and positive rental reversion coupled with contributions from newly acquired assets.

SkyWorld Development Bhd is committed to achieving a return on equity (ROE) of over 20% for its shareholders going forward.

Glomac Bhd’s net profit fell 15.58% to RM13.92 million for its fourth quarter ended April 30, 2023 (4QFY2023), from RM16.49 million a year earlier, mainly due to higher expenses and finance costs.

Paramount Corp Bhd has set a sales target of RM1.2 billion for the financial year ending Dec 31, 2023 (FY2023), representing about a 10% increase against the RM1.1 billion sales achieved in FY2022.

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.