🚨Earnings summary

• Leong Hup International (LHI) saw a slight increase in net profit for 3Q24, which rose to RM135.02mil, up from RM132.96mil in the same period the previous year. This increase was largely due to a significant reduction in tax expenses, which fell by 67.82% to RM16.15mil from RM50.18mil. However, the company's quarterly revenue declined by 11.45% to RM2.23bil, compared to RM2.52bil a year earlier, attributed to lower average selling prices and reduced sales volumes of day-old chicks in Indonesia and Malaysia.

• Malayan Banking (MAYBANK) reported a net profit increase of 7.6% to RM2.54bil for 3Q24, up from RM2.36bil in the same period the previous year. The growth in net profit was primarily driven by an increase in non-interest income, which grew by 7.5%, offsetting a 1.9% decline in net interest income. Additionally, income from Islamic banking saw a significant rise of 12% year-on-year.

• Sunway Bhd (SUNWAY) reported a net profit of RM376.08mil for 3Q24, which is a significant increase from RM180.3mil recorded in the same period the previous year. This growth is attributed to stronger operating performance across its core businesses. The company's quarterly revenue increased by 31.8% to RM2.03bil, up from RM1.54bil a year earlier, with all segments showing better performance except for the quarry segment. No dividend was declared for the quarter.