News by Surin Murugiah

Kerjaya Prospek Group Bhd (KL:KERJAYA) has bagged a contract worth RM567.73 million in Penang.

Avaland Bhd's (KL:AVALAND) net profit for the first quarter ended March 31, 2024 (1QFY2024) soared to RM21.17 million, from RM136,000 a year earlier, on the back of advanced construction progress in the group’s ongoing projects, namely Aetas Damansara, Alira Subang Jaya, Casa Embun and Sanderling.

Loke said The Logg is the company’s first mixed development project, and is also its first joint development project with Lembaga Pembangunan Perumahan dan Bandar, the state agency in Sabah.

RHB Investment Bank Research has maintained its 'buy' rating for Gamuda Bhd (KL:GAMUDA) at RM5.58, with a higher target price of RM6.55 (from RM6.30), and said it is upbeat on the prospects Ho Chi Minh City (HCMC) has for Gamuda’s property arm.

Phillip Capital has maintained its “buy” rating on Kerjaya Prospek Group Bhd at RM1.80 with a higher target price (TP) of RM2 (from RM1.93) and said it expects Kerjaya’s 1Q2024 net profit to come in stronger year-on-year, but flat quarter-on-quarter.

Hong Leong Investment Bank (HLIB) Research said the anticipated rebound in construction activities, particularly in railway projects, is expected to generate more contract opportunities for companies like Econpile Holdings Bhd (KL:ECONBHD).

RHB Retail Research said Ahmad Zaki Resources Bhd (KL:AZRB) is eyeing a technical breakout after testing the 25 sen level for the past week, while remaining above the ascending 21-day simple moving average (SMA) line.

RHB Retail Research said Avaland Bhd (KL: AVALAND) is set to propel upwards further after undergoing a technical breakout above the 36.5 sen resistance level yesterday, on a surge in trading volume.

UOB KayHian has initiated coverage on Lagenda Properties Bhd (KL: LAGENDA) with a “buy” rating at RM1.49 and target price (TP) of RM2.05.

NCT Group of Companies has signed memorandums of understanding (MOUs) with SMARTSEL Sdn Bhd and Mikro Sdn Bhd to scale up the capabilities of the NCT Smart Industrial Park (NSIP), while introducing advanced sustainability practices geared to positively impact its carbon footprint.