News by Surin Murugiah

Matrix Concepts Holdings Bhd's net profit for the first quarter ended June 30, 2022 (1QFY23) jumped 48.44% to RM47.03 million from RM31.69 million a year ago, on the back of a 40.3% growth in revenue to RM229.3 million from RM163.4 million.

Hong Leong IB (HLIB) Research has downgraded Sentral REIT to “hold” at RM1.01 with a lower target price (TP) of 91 sen (from 99 sen) and said Sentral REIT recorded 2QFY22 core net profit of RM18.5 million (-9.4% q-o-q; -2.3% y-o-y) and 1HFY22 core net profit of RM38.8 million (-2% y-o-y).

MIDF Research has maintained its “positive” rating of the construction sector, with encouraging developments seen in Sarawak.

MIDF Research has maintained its “Neutral” rating on property sector and said it sees near-term outlook for property sector to remain unexciting due to the oversupply concern.

Tenaga Nasional Bhd (TNB) said on Wednesday (July 27) that the goverment-controlled utility had at 3.02pm fully restored electricity supply in areas across Peninsular Malaysia affected by a power outage since 12.39pm, due to a damaged equipment within the main power intake substation in Yong Peng, Johor.

Tenaga Nasional Bhd (TNB) said there are currently power outages in several areas.

MK Land founder Tan Sri Mustapha Kamal Abu Bakar has passed away.

In a Bursa Malaysia filing, BDB said Mohd Iskandar first joined the company in 2014 as head of group corporate planning and enterprise risk management, where his primary role was to lead, monitor and coordinate the integrated business viability of the group's business strategy, assess risk on new business opportunities such as commercial development, land development and corporate exercises and their execution.

In a statement on Monday (July 18), Boustead Properties said the river park will contribute towards building a stronger sense of community in the 1,200-acre smart, integrated township, which is being developed in line with the United Nations Sustainable Development Goals.

In a note on Monday (July 18), the research house said ongoing market headwinds such as rising inflationary pressure and weakening of the ringgit continue to dampen market sentiment.