Dayang Enterprise Holdings Bhd marked a return to profitability after notching a net profit of RM64.69 million in the second quarter ended June 30, 2023 (2QFY2023), its highest quarterly profit since its 4QFY2019 result of RM78.23 million.

Dayang Enterprise posts highest quarterly earnings since 2019, marking strong rebound in 2QFY2023  

theedgemalaysia.com highlighted 11 stocks with negative momentum at Bursa Malaysia's afternoon close on Thursday (Aug 24).

Aurelius, Avaland, Binasat, CWG, Eurospan, MBM Resources, Pensonic, PRG, Ramssol, Systech, UOA Development

Kuala Lumpur Kepong Bhd (KLK) has proposed to buy 739.2 million shares or 33% and one share in Boustead Plantations Bhd (BPlant) for a total of RM1.15 billion or RM1.55 per share and plans to take the company private via a mandatory general offer (MGO), confirming The Edge’s report.

KLK proposes to buy 33% and one share in BPlant for RM1.15b, take company private, confirming The Edge’s report 

Shares of Dayang Enterprise Holdings Bhd continued to rally on Thursday (Aug 24), closing at RM1.57 — the highest since its closing price of RM2.08 on March 6, 2020 — as its business performance rebounded strongly as reflected in its second quarter ended June 30, 2023 (2QFY2023).

Dayang Enterprise closes on three-and-a-half year high as business performance improves

Hap Seng Plantations Holdings Bhd posted a net profit of RM9.42 million for the second quarter ended June 30, 2023 (2QFY2023), its lowest quarterly earnings since a net loss in 1QFY2020.

Year-on-year, net profit dropped 86% from RM66.9 million, which the company said was due to lower average selling prices of all palm products, higher production cost, and losses from adjustments to fair value of biological assets.

Hap Seng Plantations logs lowest quarterly net profit since early 2020

KUALA LUMPUR (Aug 23): Sime Darby Plantation Bhd said it expects its financial year ending Dec 31, 2023 (FY2023) to remain challenging, as its net profit for the second quarter ended June 30, 2023 (2QFY2023) fell by 53% to RM380 million, from RM812 million a year ago.

Sime Darby Plantation expects FY2023 to remain challenging as 2Q net profit falls 53%

theedgemalaysia.com highlighted two stocks with positive momentum and eleven stocks with negative momentum at Bursa Malaysia's afternoon close on Wednesday (Aug 23).

Perdana, Teo Seng, Agmo, CSC Steel, CWG, Eduspec, M&A, OpenSys, Parkson, PRIVASIA, Priceworth, Ramssol, Rexit

Eastern & Oriental Bhd (E&O) posted a net profit of RM32.95 million for the first quarter ended June 30, 2023 (1QFY2024), from a net loss of RM1.65 million a year ago, on the back of improved revenue. 

In a bourse filing on Wednesday (Aug 23), the premier lifestyle property developer said revenue jumped by 11.5% to RM85.4 million for 1QFY2024, versus RM76.6 million previously, which E&O attributed to an increase in revenue of RM3.6 million from the property segment and RM5 million from the hospitality segment.

E&O posts RM33m profit in 1Q on improved revenue, forex gains

IOI Corp Bhd’s results for the financial year ended June 30, 2023 (FY2023), which saw a 35% fall in net profit and 25.64% drop in revenue year-on-year (y-o-y), came in broadly within expectations, said two research houses.

IOI Corp’s FY2023 a decent finish despite slump in net profit and revenue, say research houses

OpenSys (M) Bhd is acquiring eight offices at Pinnacle Petaling Jaya, Selangor, from JH Yong Holding Sdn Bhd for RM10.5 million to support its growing business.

The group said the purchase is to cater to the needs of additional staff, especially those engaged in operational, software development and hardware support roles.

OpenSys acquires eight offices for RM10.5m to support growing business

Prime Minister Datuk Seri Anwar Ibrahim wants all ministries to focus on enhancing capabilities in the fields of tourism, investment and economy, with the involvement of all states through the Visit Malaysia Year 2026 (VM2026) campaign.

PM tells all ministries to improve capabilities in fields of tourism, investment, economy

KUALA LUMPUR (Jan 6): Shares of glove manufacturers rallied on Monday in active trade amid reports of new virus infections in China, though authorities have downplayed the infections as seasonal winter peak.

Glove stocks rally amid reports of new virus infections in China, MIDF shrugs off potential demand spike

EVENING 5: Five things you need to know today

EVENING 5: Najib’s addendum appeal allowed, case heads to High Court

The US Consumer Financial Protection Bureau (CFPB) on Monday sued a unit of Warren Buffett's Berkshire Hathaway for allegedly pushing people into risky, unaffordable loans to buy homes from Clayton Homes, Berkshire's manufactured housing business.

US regulator sues Buffett's Berkshire unit over risky home loans

Money managers are seeing plenty of reasons to remain bullish on gold, following a stellar 2024 that saw the precious metal post its biggest annual gain since 2010.

Gold investors stay bullish for 2025 on Trump volatility

Toyo Ventures Holdings Bhd (KL:TOYOVEN) has issued a notice of dispute to Vietnam's Ministry of Industry and Trade (MOIT) over the termination of the Song Hau 2 thermal power plant project by the Vietnamese government.

Toyo Ventures issues dispute notice to Vietnamese govt over power plant termination

Ecobuilt Holdings Bhd (KL:ECOHLDS) said its external auditor HLB Ler Lum Chew PLT has expressed a qualified opinion on the group's audited statements for the financial year ended Aug 31, 2024 (FY2024), as well as flagged a material uncertainty that cast doubt on the group's ability to continue as a going concern.

Ecobuilt's auditor flags going concern doubt as it expresses qualified opinion on FY2024 statements

Proton Holdings Bhd, in which DRB-Hicom Bhd (KL:DRBHCOM) owns a 51% stake, concluded 2024 with 152,352 cars sold, retaining its second-place position in the local market for the sixth year running.

Proton's annual sales up less than 1% in 2024, defends second spot for sixth year

Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), has extended the closing time and date for the acceptance of its takeover offer to 5pm on Jan 17, 2025, from 5pm on Jan 8, 2025, previously.

Khazanah-EPF consortium gives MAHB shareholders seven more working days to accept takeover bid

A three-member Court of Appeal bench on Monday ruled to allow former prime minister Datuk Seri Najib Razak’s appeal, to have the merits of his challenge over the existence of an addendum, purportedly issued by the 16th Yang di-Pertuan Agong for him to serve the remainder of his jail sentence under house arrest, to be heard at the High Court.

Najib's addendum appeal allowed via majority decision, case reverted to High Court

Cafe chain operator Oriental Kopi Holdings Bhd set its initial public offering (IPO) price at 44 sen apiece in a share sale that would raise RM183.96 million ahead of its listing on the ACE Market.

ACE Market-bound Oriental Kopi to raise RM184 mil, sets IPO price at 44 sen

Pahang exco member Datuk Nizar Najib has produced a letter from the Royal Pahang Household, purportedly verifying the existence of the Jan 29, 2024, addendum that allows former prime minister Datuk Seri Najib Razak to serve the remainder of his prison sentence under house arrest.

Nizar Najib produces letter purportedly from Pahang comptroller, allegedly verifying addendum

KUALA LUMPUR (Jan 6): Shares of NationGate Holdings Bhd (KL:NATGATE) hit a fresh high on Monday, after gaining 23 sen or 9.1% at RM2.75, becoming the fifth biggest gainer on Bursa Malaysia.

NationGate hits new record high on first mover advantage, deliveries of AI GPU servers

Oriental Kopi Holdings Bhd, a cafe chain operator en route to the ACE Market, said it is not spared from rising cost pressure and plans to raise prices to mitigate the impact.

Oriental Kopi to raise menu prices amid rising raw material costs

Senior federal counsel Shamsul Bolhassan, representing the government and other respondents in Datuk Seri Najib Razak’s appeal over a purported addendum, told the Court of Appeal on Monday that the addendum was never discussed or brought up during the Federal Territory Pardons Board’s 61st meeting on Jan 29 last year.

AGC claims no due diligence on Najib’s part to produce additional evidence on purported addendum, maintains February release as main order

Demand for Malaysia’s palm oil could rise if Indonesia goes through with its plan to raise export levy to support the higher biodiesel mandate, TA Securities said on Monday.

Raising the export levy to 10% would add US$26.49 per tonne, making Indonesian crude palm oil (CPO) even more expensive than Malaysia’s product, the research house said. The price of Indonesia’s palm oil is already at a premium of US$146.30 per tonne above that of Malaysia, it noted.

Demand for Malaysian palm oil could rise if Indonesia raises exports levy — TA Securities

PUTRAJAYA (Jan 6): Former 1Malaysia Development Bhd (1MDB) chairman Tan Sri Dr Mohd Irwan Serigar Abdullah, who is former treasury secretary general, will bring in two former 1MDB board members as third parties in a US$6.59 billion suit filed by the strategic development company against him and former 1MDB president Arul Kanda Kandasamy. This follows the Federal Court’s ruling to dismiss their application for leave to reverse an earlier Court of Appeal’s (COA) decision that had allowed Irwan to bring in the two former board members as third parties.

Two ex-directors to be included as third parties in US$6.59b 1MDB suit after apex court denies them leave to appeal

Umno president Datuk Seri Dr Ahmad&nbsp;Zahid&nbsp;Hamidi has appealed to the Yang di-Pertuan Agong to grant a full pardon to the jailed former prime minister Datuk Seri Najib Razak.

Zahid pleads with King for full pardon of Najib following court's decision allowing addendum appeal

CBH Engineering Holdings Bhd (KL:CBHB) saw its initial public offering (IPO) of 94.05 million shares — available to the public at 28 sen apiece — oversubscribed by 34.21 times.

CBH Engineering’s IPO shares for public oversubscribed by 34 times

PIE Industrial Bhd (KL:PIE) is seen as a major beneficiary of global supply chain shifts and technological trends, according to Maybank Investment Bank.

The house noted that as an EMS provider, PIE is poised to benefit from new sources of earnings growth.

Maybank initiates a 'buy' on PIE on trade diversion, data centre boom

KUALA LUMPUR (Jan 6): U Mobile has signed an agreement with the Federal Land Development Authority (Felda), in which&nbsp;the telco will play a critical role in supporting the group in its digital transformation drive.&nbsp;

U Mobile, Felda ink agreement to support digital transformation

theedgemalaysia.com highlighted 14 stocks with momentum at Bursa Malaysia’s afternoon close on Monday. 13 stocks showed negative momentum, while only one stock showed positive momentum.

Stocks with momentum on Jan 6, 2025: Kumpulan Fima, Eurospan, Velocity Capital, Inta Bina, Radiant Globaltech, Ramssol, Evergreen Max Cash, Minox, Carlsberg, Lien Hoe, Southern Steel, Aeon Co, Xin Synergy and Wong Engineering

A former hedge fund manager whose firm made billions during the global financial crisis is ready to pounce on volatility again, as he sees threats to market stability at a level not seen since 2008.

Trader who made billions in 2008 returns to bet on market swings

Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), has extended the closing time and date for the acceptance of its takeover offer to 5pm on Jan 17, 2025, from 5pm on Jan 8, 2025, previously.&nbsp;

（吉隆坡6日讯）华阳（Oriental Kopi Holdings Bhd）将在创业板上市，首次公开募股（IPO）发售价定为每股44仙，预计可筹集1亿8396万令吉。

华阳创业板上市 IPO发售价44仙筹1.84亿

KUALA LUMPUR (Jan 6): Construction outfit Kerjaya Prospek Group Bhd (KL:KERJAYA) has bagged a RM256.4 million contract from Eastern &amp; Oriental Express Sdn Bhd (E&amp;OE) to undertake construction works in Elmina West, Shah Alam, Selangor.

Kerjaya Prospek wins first job in 2025 — RM256m contract in Shah Alam for E&O’s unit

Despite being 1Malaysia Development Bhd's (1MDB)&nbsp;then chairman of the board of advisors (BOA), its sole shareholder&nbsp;and the then prime minister, Datuk Seri Najib Razak said that he never hired or fired anyone at the company.

1MDB-Tanore: Najib says merely 'formalised' board appointments, management had autonomy

SINGAPORE (Jan 6): Singapore-headquartered data-centre company Digital Edge said on Monday that it had raised over US$1.6 billion (RM7.21 billion) in new capital via a combination of equity and debt financing, to fund its next phase of growth.

Singaporean data-centre firm Digital Edge raises over US$1.6b

Offshore oil and gas services provider T7 Global Bhd (KL:T7GLOBAL) announced on Monday it has bagged a contract to undertake maintenance, construction and modification (MCM) services for an undisclosed value.

Hailey Chung

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