Based on corporate announcements and news flow on Thursday, companies in focus on Friday (Oct 15) may include Sedania Innovator Bhd, IGB Bhd, LPI Capital Bhd, Kerjaya Prospek Group Bhd, AirAsia Group Bhd, Telekom Malaysia Bhd, Genting Malaysia Bhd, Advancecon Holdings Bhd, Malaysia Airports Holdings Bhd (MAHB), Binasat Communications Bhd and MISC Bhd.
Cautious optimism for construction's road to recovery thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR, May 27 Construction outfit Kerjaya Prospek Group Bhd recorded a net profit of RM26.39 million for the first quarter (Q1) ended March 31, 2021, up 18.2 per cent from RM22.33 million a year earlier. The improved earnings were on the back of a higher revenue of RM268.67 million.
KUALA LUMPUR (May 27): Kerjaya Prospek Group Bhd s net profit for the first quarter ended March 31, 2021 (1QFY21) rose 18.08% to RM26.38 million, from RM22.34 million a year ago, in line with higher revenue.
Its quarterly revenue also increased by 26.83% to RM268.67 million, from RM211.84 million a year ago, its filing with Bursa Malaysia showed.
The group did not declare any dividend for the latest quarter.
The group said the increase in revenue was mainly due to the group fully resuming its construction projects this quarter compared with the corresponding financial period in the previous year, which was affected by the Movement Control Order implemented by the government on March 18, 2020 in response to the Covid-19 pandemic.
(May 25): Malaysian builders struggling to avoid Covid infections at work-sites have another problem on their hands: surging prices of building materials thanks to the broad commodity boom.
Firms with no cost escalation clauses in their tender contracts are hurting, according to the Master Builders Association Malaysia, which represents more than 1,000 members. It’s now seeking help from the government to shield them from the risk of surging prices.
“Contractors who have previously locked in the building materials prices before this would feel the impact of the price increase now,” Sufri Hj Mhd Zin, president of the association, said in an email to Bloomberg. “The rise in materials costs is not good for the industry, be it manufacturers, suppliers, contractors, developers and the people.”