Offset packaging printing specialist HPP Holdings Bhd said its four manufacturing facilities in Melaka have resumed operations after a temporary suspension following the detection of Covid-19 cases among workers.
UMW Holdings Bhd’s earnings surged 119% to RM97.27 million for the first quarter ended March 31, 2021 (1Q21), from RM44.32 million in the preceding quarter as the automotive group sold more vehicles.Its automotive revenue rose 51% year-on-year (YoY) to RM1.58 billion due to the higher number of vehicles sold during the current quarter following the extension of the sales tax exemption until June 30, 2021.In line with higher revenue and share of profit from an associated company, the segment also recorded a profit before tax of RM145.5 million compared to RM53.7 million in the corresponding quarter.
KUALA LUMPUR (Aug 12): theedgemarkets.com highlighted four stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks displayed positive momentum, while one showed negative momentum. Stocks with positive momentum were: Fitters Diversified Bhd – up two sen at 38 sen Greatech Technology Bhd – up 34 sen at RM7.39 Wegmans Holdings Bhd – down 0.5 sen at 30 sen Stock with negative momentum was: TAFI Industries Bhd – up three sen at RM2.18
CARMAKER Proton Holdings Bhd has started producing face shields for medical frontliners as the company reinforces its commitment to help fight the spread of the Covid-19 virus in Malaysia.The first batch of 8,000 units was shipped out yesterday to hospitals in Kelantan, followed by other East coast states.This is part of Proton’s staff joint effort to contribute in the fight against the pandemic.
THE share price rally in glovemakers on Bursa Malaysia appears to have been exhausted as shares of the companies failed to recover losses made on Tuesday after logistical concerns were raised on the distribution of the potential Covid-10 vaccine candidate by US drugmaker Pfizer Inc and German biotech firm BioNTech SE.With money moving into cyclical counters like banks and utilities, the seven major-listed rubber glove counters, which lost a total of RM19 billion in market capitalisation on Tuesday, struggled to retrace losses yesterday.Malacca Securities Sdn Bhd head of research Loui Low said the announcement of the success of Pfizer’s Covid-19 vaccine on Monday has fundamentally changed the way investors invest and trade at this juncture.