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KUALA LUMPUR: Stocks that could see active trading on Friday include Sime Darby, SunREIT, Pecca, United Plantations, FPI, Salutica, MAA, ELK-Desa and Bumi Armada
, said Apex Securities Research.
Sime Darby Bhd‘s shareholders have given their approval for the proposed acquisition of Permodalan Nasional Bhd’s (PNB) 61.2% stake in UMW Holdings Bhd.
Sunway Real Estate Investment Trust’s (Sunway REIT) net property income (NPI) increased by 6.6% to RM136.75 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM128.24 million a year earlier in line with higher revenue driven by sharp increase in hotel segment’s earnings.
Pecca Group Bhd has reported a 55.8% surge in net profit for its first financial quarter ended Sept 30, 2023 (1QFY2024) at RM13.01 million, from RM8.35 million a year earlier, thanks to higher sales of upholstery car seat covers and improved operational efficiency.
United Plantations Bhd (UP) recorded a net profit of RM235.68 million for its third quarter ended Sept 30, 2023 (3QFY2023), up 19.8% from RM196.72 million in the previous year’s corresponding period, despite lower revenue and share of results from its joint ventures, thanks largely to lower operating and income tax expenses.
Formosa Prosonic Industries Bhd’s net profit rose 10.47% to RM48.87 million in the third quarter ended Sept 30, 2023 (3QFY2023) from RM44.24 million a year before, thanks to a gain on disposal of property plant and equipment amounting to RM7.3 million.
Salutica Bhd, which is involved in a legal suit with Apple’s unit in Malaysia for alleged patent infringement, on Thursday filed a similar suit against the US tech giant’s Singapore-based subsidiary, Apple South Asia Pte Ltd.
MAA Group Bhd emerged as one of the top gainers, after announcing a plan to divest an 85% stake in its wholly-owned Philippine general insurance business — MAA General Assurance Philippines Inc — to Triple P Philippines Pte Ltd for US$49.3 million (RM234.86 million) cash.
Elk-Desa Resources Bhd saw its net profit decline 23.3% to RM8.84 million in the second quarter ended Sept 30, 2023 (2QFY2024), from RM11.53 million a year earlier, on higher impairment allowances.
Bumi Armada Bhd’s net profit increased by 18.73% to RM177.77 million for the third quarter ended Sept 30, 2023 (3QFY2023) from RM149.72 million a year earlier, on higher operating income and lower finance cost.
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