News by Myia S Nair

Analysts have maintained their positive stance on Scientex Bhd (KL:SCIENTX) after the group's core earnings came mostly within expectations for the financial year ended July 31, 2024 (FY2024).

This is on the back of competitive data centre construction cost and average electricity tariff, coupled with a supportive regulatory environment from streamlined approval processes to conducive framework for data centre operations. 

The order means that the winding up petition has been permanently set aside and no longer in effect. 

Bina Darulaman Bhd (KL:BDB) said the resignation of its external auditor KPMG four months after its reappointment “is part of a routine governance practice” following the extension of its tenure.

PGF Capital Bhd’s (KL:PGF), which mainly manufactures insulation products, said on Friday that it is buying a piece of land in Kedah for RM40 million to be developed into a factory.

Binastra Corp Bhd (KL:BNASTRA) said on Thursday its second-quarter net profit rose 171.4% from a year earlier, as higher construction work activities and commencement of five new projects during the period led to its revenue surging 157.5% to RM230.9 million.

IOI Properties Group Bhd (KL:IOIPG) is going to launch its IOI Industrial Park at Banting, Selangor by the second quarter of next year and is planning another one in Melaka that is expected to be launched two quarters later.

Binastra Corp Bhd (KL:BNASTRA) has secured a project worth RM574.4 million from Exsim Jalil Link Sdn Bhd for a proposed development of a data centre. 

RHB Research has upgraded the basic construction materials sector to 'overweight' from 'neutral', amid a positive outlook on aluminium and cement companies under its coverage.

The earnings prospect for real estate investment trusts (REITs) in the second half of this year is expected to remain positive, due to the bright outlook for the retail industry and industrial segment in Malaysia, according to MIDF in a note on Friday.