Axiata, MBSB, KUB, Widad and Pansar are among the stocks to watch on Friday after their corporate news, JF Apex Research says
Axiata, MBSB, KUB, Widad and Pansar are among the stocks to watch on Friday after their corporate news, JF Apex Research says.
Axiata has confirmed that its subsidiary edotco Group Sdn Bhd has been shortlisted to bid for Myanmar telecoms tower player Irrawaddy Green Towers.
MBSB reported a net loss of RM73.25mil ($17.09mil) for 1QFY20, compared to a net profit of RM83.83mil ($19.56mil) a year earlier, due to higher impairment charges on loans, financing and advances.
KUB sold its 40% equity interest in KUB-Berjaya Enviro Sdn Bhd (KUBE) to Berjaya Group Bhd for RM80mil ($18.67mil). KUBE is involved in waste treatment and electricity generation.
Alliance Bank’s net profit for 4QFY20 fell 12.27% to RM98.06mil ($22.88mil) from RM111.78mil ($26.09mil) a year earlier. The lower earnings were due to a higher allowance for expected credit losses on loans, advances and financing and other financial assets.
As for Widad, it is acquiring the entire stake in Inovatif Mewah Sdn Bhd (IMSB) – the owner of a concession to develop and maintain the UiTM Seremban 3 campus (US3C) – for RM122mil ($28.47mil) cash.
Aeon Credit’s net profit for 1QFY21, fell 69% to RM26.28mil ($6.13mil) from RM84.6mil ($19.74mil) a year ago mainly due to higher allowance for impairment loss, and lower income due to the MCO implemented following the coronavirus outbreak.
Anzo has inked an agreement to supply up to 60,000 tonnes of copper scrap to CSTME Resources Sdn Bhd for RM23,000 per tonne or a total of RM1.3bil ($0.30bil) over a period of 40 months.
Pansar has accepted two letters of appointment related to the development and upgrading of the proposed Pan Borneo Highway in the State of Sarawak worth RM72.06mil ($16.82mil).
Niche Capital Emas’s unit, Pembangunan Maju Setia Sdn Bhd, was awarded a sub-contract worth RM12.82mil ($2.99mil) from YDI Synergy Sdn Bhd.
