KUALA LUMPUR: Stocks to watch on Friday include Bumi Armada Bhd
, MISC Bhd, Sunway Real Estate Investment Trust (Sunway REIT), MR D.I.Y. Group (M) Bhd, Teo Seng Capital Bhd, Berjaya Food Bhd (BFood), LBS Bina Group Bhd and Prolintas Infra Business Trust
Bumi Armada has signed a non-binding memorandum of understanding (MoU) with MISC to explore the possibility of merging with the latter’s offshore business through an all-share transaction.
Bumi Armada said the merged entity arising from the proposed merger would remain listed on Bursa Malaysia.
MISC’s net profit fell to RM338.9mil from RM430.4mil in the year-ago quarter, which translates to an earnings per share of 7.6 sen against 9.6 sen previously. The group reported revenue of RM2.96bil, down from RM3.37bil.
Sunway REIT’s net profit for the third quarter (3Q 2024) dipped to RM89.14mil from RM91.97mil last year. Revenue rose 9.3% to RM192.14mil from RM175.83mil previously.
In the third quarter ended Sept 30, MR DIY posted a lower net profit of RM121.6mil compared with RM123.9mil in the same quarter last year. Revenue for the quarter rose 6.42% to RM1.13bil from RM1.06bil achieved last year.
Teo Seng’s net profit rose 32.4% to RM58.05mil, or earnings per share of 19.50 sen in the third quarter ended June 30, compared with RM43.83mil, or 14.94 sen in the same quarter a year ago.
Revenue, however, was 4.8% lower at RM190.3mil against RM199.9mil a year prior.
BFood reported a net loss of RM33.7mil in the first quarter ended Sept 30, from a net profit of RM19.03mil a year ago.
Its revenue more than halved to RM124.2mil in the quarter under review, down from RM278.5mil, due to the ongoing boycott related to the conflict in the Middle East.
LBS Bina has signed a MoU with Invest Sabah Bhd, the Sabah Forestry Development Authority, and Midwest Green Sdn Bhd to explore the feasibility of promoting innovative renewable energy
projects in Sabah.
Prolintas Infra Business Trust's net profit jumped 178.1% year-on-year to RM12.1mil in 3QFY24, from RM4.4mil a year earlier, thanks to a jump in toll collection and tax credit.
Overnight, the Dow Jones Industrial Average fell 207.33 points, or 0.47%, to 43,750.86, the S&P 500 lost 36.21 points, or 0.60%, to 5,949.17 and the Nasdaq Composite dropped 123.07 points, or 0.64%, to 19,107.65.
