Stock news

♦Corporate Top Stories

1⃣   Bursa has advised investors to exercise caution in the trading of Yen, which have been surging of late.

2⃣  Bintai has bagged the job to supply and install air-conditioning and mechanical ventilation systems at a community hospital on the island republic.

3⃣  V.S. has issued a profit warning to investors that it expects to incur losses for its FY16, due to provision for impairment.

4⃣  WZ Satu has secured another construction job for the WCE project, for part of the civil works package for the Changkat Cermin interchange to Beruas interchange.

5⃣  A Singapore-based law firm, which is seeking to oppose Sona’s winding up petition, served a supplemental affidavit.

6⃣  Kobay has teamed up with Messrs Strata Homes SB to jointly develop a 43,124-sq ft piece of land in Sungai Nibong, Penang into a condominium project (GDV RM60.37m).

Financial Result Highlight 📬

📩 SCGM saw its net profit rise 12.8% to RM5.51m (4.18sen/share) in 1QFY17, on improved local and export sales.
🗞Corporate News Roundup

1⃣ MLAB is not proceeding with its proposed acquisition of a HK-based footwear and apparel manufacturer for RM260m.

2⃣ OSK has acquired 90.11% of PJDev shares & 70.61% of warrants, as at the closing of its unconditional voluntary takeover offer for PJDev shares.

3⃣ BHIC said its shipbuilding unit's RM54.9m contract to supply three harbour tugs has been called off.

4⃣ Kerjaya has won a RM146.7m contract from subsidiary of Eco World. The contract entails the main building works for the Eco Terraces project, on Penang Island's North East District.

5⃣ Eversendai's founder Tan Sri A K Nathan said the construction specialist will surpass the RM2b turnover target it had set for FY16.

6⃣ APFT's results for the quarter, which were due to be announced by the end of August, has been delayed to Sept 7. It has changed its financial year end from March 31 to July 31.

7⃣ Hua Yang is launching its newest offering, Astetica Residences, by this quarter. The project has a GDV of RM368m.

Financial Result Highlight 📬

📩 ECM Libra's 2Q net profit fell 58.7% to RM5.8m (2.02 sen/share).
Sources: ;