Stock news

* *LBALUM* saw its 4QFY16 net profit more than double to RM5.86 million, from RM2.62 million mainly due to better margins arising from cheaper raw material, as well as lower tax provision.

**VIVOCOM* subsidiaries have received letters of award for construction works worth a cumulative amount of RM37.8 million in Sungai Buloh, Selangor, and Lorong Stonor, Kuala Lumpur.

**SIME* has disposed of its entire interest in Hotel Equatorial Melaka to Permodalan Nasional Bhd (PNB) for RM55.36 million, cash.

**AMBANK* has divested of the group’s entire 80% shareholding in AmTrustee, a non-core operation, to several parties, including Rockwills International Group chairman Johari Low Abdullah, for RM9.13 million.

**GBAQRS* would be selling 1,140 units of affordable homes along with 19.03 acres of a leasehold land located in Putra Perdana, Sepang, on which they will be built to PR1MA Corp Malaysia for RM314 million.

**BENALEC* has received the Department of Environment's (DoE) approval for the reclamation works for phases 2 and 3 of its Tanjung Piai Integrated Petroleum & Petrochemical Hub and Maritime Industrial Park project.

**RCECAP* announced it has established a Sukuk Murabahah asset-backed securitisation programme of up to RM900 million in nominal value, via Al Dzahab Assets Bhd. It has launched the first issuance of RM155.48 million under the programme on Tuesday.

**NTPM* achieved a 35.2% ⬆ in net profit FY16 to RM57.67 million or 5.1 sen a share, from RM42.64 million or 3.8 sen a share a year ago. Proposed a single tier final dividend of 8% which is subject to approval by shareholders at the upcoming annual general meeting.