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The rising geopolitical tension in the Middle East could provide some relief for the transportation and logistics sector, which benefits from higher charges, but could be inflationary when passed on to end-users.
Here is a brief recap of some corporate announcements that made the news on Friday (Jan 27), involving Revenue Group Bhd, AirAsia X Bhd, Malaysia Airports Holdings Bhd, Sarawak Consolidated Industries Bhd, UEM Edgenta Bhd, Ahmad Zaki Resources Bhd, Perak Transit Bhd, Hextar Industries Bhd, EcoFirst Consolidated Bhd, and LYC Healthcare Bhd.
THE recovery theme was well in play even before Malaysia began its transition to the endemic phase of Covid-19 on April 1 because markets traditionally move ahead of the economy and financial results by at least six months. Some stocks began to rally in the early part of the year as investors anticipated that they would benefit from the reopening of borders. While some companies have continued to gain after the reopening of all economic sectors, profit-taking has had an effect on some stocks despite turning in a better financial performance year on year.
IT has been another eventful year for Bursa Malaysia, as the nation began transitioning to the endemic phase of Covid-19 on April 1 amid global headwinds such as high inflation, rising interest rates and geopolitical tensions. The local market — along with other Asian bourses, with the exception of Singapore’s Straits Times Index — is ending the year in negative territory. The FBM KLCI had lost 5.7% year to date (YTD) to 1,478.54 points on Dec 16 compared with the STI’s gain of 3.7%.
KUALA LUMPUR (Nov 2): Agrochemical businessman Datuk Eddie Ong Choo Meng has emerged as Ipoh-based transport terminal and bus operator Perak Transit Bhd’s second largest shareholder with a 6.923% stake.
KUALA LUMPUR (Sept 26): Here is a brief recap of some corporate announcements that made news on Monday (Sept 26) involving CIMB Group Holdings Bhd, Petroliam Nasional Bhd (Petronas), Genting Malaysia Bhd, Astro Malaysia Holdings Bhd, Pertama Digital Bhd, Sarawak Cable Bhd (SCable), Perak Transit Bhd, Favelle Favco Bhd, Computer Forms (Malaysia) Bhd, Microlink Solutions Bhd, CTOS Digital Bhd, Catcha Digital Bhd, Apex Equity Holdings Bhd, Sapura Energy Bhd, Paramount Corp Bhd and Omesti Bhd.
KUALA LUMPUR: Perak Transit Bhd, which posted a record net profit of RM14.87mil in the second quarter ended June 30, has declared a third interim dividend of 0.75 sen per ordinary share.
Here is a brief look at some corporate announcements and news flow on Wednesday (June 1) involving Tenaga Nasional Bhd, Top Glove Corp Bhd, YTL Power International Bhd, Sapura Energy Bhd, Comintel Corp Bhd, GIIB Holdings Bhd, Perak Transit Bhd, Dutch Lady Milk Industries Bhd, TA Global Bhd, Pecca Group Bhd, QES Group Bhd and TDM Bhd.
Ipoh-based transport terminal and bus operator Perak Transit Bhd has appointed edotco Malaysia Sdn Bhd to provide services related to in-building and telecommunications solutions and structures in designated buildings or lands owned by Perak Transit’s units.