Stocks to Watch: Key Developments in Malaysia

Kuala Lumpur’s stock market is buzzing with activity as several companies announce significant developments. Investors are keenly observing these stocks as they could impact market performance. On Tuesday, notable companies such as Gamuda Bhd, Advancecon Holdings Bhd, Marine & General Bhd, and others are in the spotlight. Each of these firms has made headlines with new contracts, revenue growth, and strategic decisions. This article highlights the key updates and what they mean for investors.

Gamuda and Major Contracts

Gamuda Bhd is making waves with its recent achievement. The company’s wholly-owned subsidiary, DT Infrastructure Pty Ltd, has secured a substantial engineering, procurement, and construction (EPC) contract in Australia. Valued at RM1.8 billion (approximately A$625 million), this contract marks a significant milestone for Gamuda. It showcases the company’s capability to undertake large-scale projects beyond Malaysian borders. This expansion into the Australian market could enhance Gamuda’s reputation and financial performance in the coming quarters.

Additionally, KKB Engineering has also secured contracts totaling RM89 million from PETROSNiaga Sdn Bhd and Gamuda. This collaboration indicates a growing trend of partnerships in the engineering sector, which could lead to more opportunities for both companies. Investors will be watching closely to see how these contracts impact Gamuda’s financials and overall market position.

Positive Trends in Revenue and Profit

Marine & General Bhd has reported encouraging financial results for the second quarter ending October 31, 2024. The company saw a 1.3% increase in revenue, reaching RM93.1 million compared to RM91.8 million in the same quarter last year. More impressively, its net profit surged by 46.7%, climbing to RM12.1 million from RM8.2 million in the previous year. This significant growth in profit indicates that Marine & General is effectively managing its operations and capitalizing on market opportunities.

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In another development, Advancecon Holdings Bhd’s subsidiary, Advancecon Infra Sdn Bhd, has secured a RM44.6 million contract from Sime Darby Property Sdn Bhd. This contract involves the construction of main infrastructure works for Phase 3 of the Elmina West development. Such contracts not only contribute to the company’s revenue but also enhance its portfolio in the construction sector.

Meanwhile, Infomina Bhd has accepted a purchase order worth US$2.6 million (RM11.6 million) from Hong Kong Exchanges and Clearing Limited. This order reflects Infomina’s growing influence in the technology sector and its ability to secure international clients. As these companies continue to report positive trends, investors may find new opportunities in the Malaysian stock market.

In summary, the developments in these companies highlight a vibrant market landscape. Investors should keep a close eye on these stocks as they navigate through contracts, revenue growth, and strategic partnerships.