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PGF Capital Bhd’s unit has obtained authorities’ approval for rezoning of 1,311 acres (530.54 hectares) of land in Tanjong Malim, Perak, increasing the residential portion to 577.51 acres, from 71.81 acres previously.
TA Securities has initiated coverage of PGF Capital Bhd at RM1.60 with a "buy" recommendation and a target price (TP) of RM2.76, representing a strong upside of 72.7%.
PGF is principally involved in manufacturing and selling of glass mineral wool used in building insulation.
theedgemalaysia.com highlighted four stocks with positive momentum and one stock with negative momentum at Bursa Malaysia's afternoon close on Tuesday.
KUALA LUMPUR: The trading stock of companies that made corporate announcements include Dayang, Samaiden, UOA REIT, Jentayu, Rapid, YNH Property, Bina Darulaman, G3, Ajiya and TAS Offshore, said Apex Securities Research.
PGF Capital Bhd's net profit rose over twofold in the third quarter ended Nov 30, 2023 (3QFY2024) to RM5.4 million from RM2.03 million a year ago, driven by higher revenue.