News by Surin Murugiah

Malaysia Building Society Bhd shares rose 2.36% at mid-morning today after its net profit in the first quarter ended March 31 (1QFY17) nearly tripled to RM101.32 million from RM34.84 million a year ago, thanks to higher gross loans and lower cost of funds.

Jaks Resources Bhd net profit for the first quarter ended March 31, 2017 surged 600% to RM7.5 million from RM1.07 million a year earlier, driven mainly by its construction division, especially its Vietnam EPC construction work.

Wing Tai Malaysia Bhd (WTM) shares hit limit up in thin trade this morning after its controlling shareholders offered to take company private at RM1.80 per share — 52% premium over its last traded price of RM1.18.

Dutaland Bhd shares fell 7.62% in early trade today after it posted a net loss of RM3.69 million in its third quarter ended March 31, 2017.

Dutaland Bhd posted a net loss of RM3.69 million in its third quarter ended March 31, 2017 compared net profit RM1.21 million a year earlier.

WTH and WTID directly hold 222.37 million and 91.94 million WTM shares respectively, representing a total of 66.13% of the voting shares of WTM.

The group — the third company troubled by IRB this month — said it disagrees with the decision, and will appeal accordingly.

At 11.01am, TSR Capital rose 1 sen to 79.5 sen with 371,200 shares done.

At 9.29am, MRCB dipped 0.65% or 1 sen to RM1.53 with 4.27 million shares traded.

The building contractor said a total of 12,574 applications for 1.17 billion new shares valued at RM292.64 million were received from the Malaysian public for 26.76 million new shares that were made available for public subscription.