News by TheEdgemarkets.com

Hong Leong Investment Bank (HLIB) Research has maintained its “Buy” rating on Gamuda Bhd at RM4.14 with an unchanged target price (TP) of RM4.88  and said Gamuda reported 1HFY23 core PATAMI of RM385.0 million, slightly above house and consensus expectations at 52%/55% respectively.

Pasukhas Group Bhd said the value of the contract the group won last year to undertake concrete substructure works for the head building of the Dexcom Malaysia Factory 3 project in Penang has been increased to RM12.7 million from RM7.08 million.

Chin Hin Group Property Bhd has emerged as a substantial shareholder of NCT Alliance Bhd, after subscribing to 75.41 million shares in the latter via private placement.

Sunway Construction Group Bhd has been awarded a contract for the construction of station and viaducts for the Johor Bahru–Singapore Rapid Transit System (RTS) for RM604.86 million.

Gamuda Bhd posted a net profit of RM194.62 million for its second quarter ended Jan 31, 2023 (2QFY2023), up 9.88% from RM177.13 million in 2QFY2022, as stronger construction and property earnings filled in the void of its highway earnings following the divestments of its four highways last year.

Electric vehicle (EV) tech mobility company Blueshark recently launched a new programme called the Malaysia Electric Vehicle Empowerment (MyEVE) to accelerate the adoption and development of electric motorcycles in the country.

Shareholders of Menang Corp (M) Bhd connected to Titian Hartanah (M) Sdn Bhd have ceased to be substantial shareholding of the property developer.

Unitholders of Pavilion Real Estate Investment Trust (Pavilion REIT) have greenlighted the proposal to acquire Pavilion Bukit Jalil Mall (PBJ Mall) from Malton Bhd for RM2.2 billion.

Trive Property Group Bhd’s net profit jumped to RM24.11 million in the second quarter ended Jan 31, 2023 (2QFY2023), about 18 times the RM1.36 million it made in the same period a year earlier (2QFY2022), thanks mainly to fair value gains of its investment properties that amounted to RM27.26 million.

Rakuten Trade has a “buy” rating on Kerjaya Prospek Group Bhd at RM1.17 with a target price of RM1.70 and said it expects Kerjaya’s FY2023 and FY2204 earnings to improve by 23.5% and 20.0% to RM139.2 million and RM167.0 million, buoyed by higher revenue recognition.