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Corporate Malaysia's earnings for the second quarter of this year have largely been in line with analysts' expectations, with 58 of the top 100 companies on Bursa Malaysia in terms of market capitalisation either meeting or beating analysts' estimates, while 42 missed consensus estimates.
NationGate Holdings Bhd (KL:NATGATE), which was recently transferred to the Main Market of Bursa Malaysia, saw its net profit almost doubled to RM28.54 million in the second quarter ended June 30, 2024 (2QFY2024), from RM14.32 million a year ago, as revenue more than quadrupled.
IT is important to be highly selective when participating in IPOs by taking a deep dive into the fundamentals of the companies, including examining their track record and evaluating their growth prospects.
Notable filings
From July 29 to Aug 2, notable shareholding changes in companies listed on Bursa Malaysia included those at loss-making oil palm plantation outfit Astral Asia Bhd (KL:AASIA).
Filings with Bursa on July 31 show that Terusan Al-Maju Sdn Bhd, th...
PETALING JAYA: Every cloud has a silver lining. In this case, the recent massive selldown in the local stock market may serve as an opportune time for investors to buy on the dip especially given that several artificial intelligence (AI)-related and data centre stocks have surged in recent weeks.
KUALA LUMPUR: Bursa Malaysia experienced a bloodbath on Black Monday, plunging to a near four-month low as relentless selling pressure mirrored bearish regional markets.
Technology and semiconductor-related stocks on Bursa Malaysia extended their selloff on Monday afternoon, after their sharp fall in the morning amid the global stock rout. The technology sub-sector was the second biggest decliner, with the index, which tracks 48 stocks, dropping 9.1% or 6.5 points to close at 64.18.
In one of the fastest fundraising exercises, NationGate Holdings Bhd (KL:NATGATE) firmed up a 10% placement, raising an estimated RM407 million within eight working days. It announced a rights issue on July 24 and last Friday, it said the placement was oversubscribed.
SINCE the second quarter of the year, most counters in the electronics manufacturing services (EMS) sector have been enjoying a good run as orders had started to stack up again after a difficult 18 months.
But last week, as the first of the Magnificent Seven tech stocks announced second...