KUALA LUMPUR (July 6): Kenanga Research has maintained its “Outperform” rating on Gas Malaysia Bhd at RM2.91 with a higher target price (TP) of RM3.40 (from RM3.10) on the back of 15%-23% upgrade in FY22-FY23 net profit forecasts on higher total margin spread assumption of RM2.60/mmbtu from RM2.50/mmbtu-RM2.40/mmbtu.
KUALA LUMPUR, May 13 ― Gas Malaysia Bhd’s shares were traded higher in the early morning trading session on Friday following its positive first quarter of 2022 (Q1 2022) results. At 10.55am, the company shares rose six sen to RM2.81 with 596,800 shares transacted. The company posted a higher.
Gas Malaysia Bhd reported a 64.15% increase in its first quarterly net profit ended March 31, 2022 (1QFY22) to RM91.32 million from RM55.63 million a year ago, driven by higher gross profit, lower administrative expenses and higher contribution from the group’s joint venture companies. Earnings per share rose to 7.11 sen from 4.33 sen, according to the company’s filing with the local bourse.
Here is a brief look at some corporate announcements and news flow on Thursday (March 17) which involve Eco World Development Group Bhd, Gas Malaysia Bhd, SKP Resources Bhd, Allianz Malaysia Bhd, Sarawak Consolidated Industries Bhd, LYC Healthcare Bhd, Vizione Holdings Bhd, Cahya Mata Sarawak Bhd, Scomi Energy Services Bhd and Sapura Energy Bhd.