MY Morning Wrap | YNH Property and SCIB Among Top Active Stocks on Bursa

U.S. stocks advanced on Monday, building off a record finish as fourth-quarter earnings season ramps up. The $Dow Jones Industrial Average (.DJI.US)$ rose 138 points, or 0.26%, to 38,000, while the $S&P 500 Index (.SPX.US)$ was up 10 points, or 0.22%, at 4,850. The $Nasdaq Composite Index (.IXIC.US)$ advanced 49 points, or 0.32%, to 15,360.

Bursa Malaysia rose on improved regional sentiment, led by Japan's key stock index that soared to its highest level in over three decades. The benchmark FBM KLCI was up 5.54 points to 1,491.91, while the overall market trading volume was 2.85 billion exchanging hands for RM1.63 billion. Among the leading heavyweights, $GENTING (3182.MY)$, $YTLPOWR (6742.MY)$, $YTL (4677.MY)$, and $AXIATA (6888.MY)$ were among the gainers. The lower liners also rose on bargain-hunting activities, with 546 gainers compared to 385 decliners and 378 unchanged. Bursa Malaysia's Technology Index climbed 0.3% to 63.43 on the back of the return to tech plays. In key regional markets, Japan's Nikkei gained 1.2%, while China's market continued its descent by 0.9%. Hong Kong's Hang Seng slumped 2% to hover just above the 15,000 psychological level.

$YNHPROP (3158.MY)$ and $SCIB (9237.MY)$: YNH Property and Sarawak Consolidated Industries have emerged as the top active stocks on Bursa Malaysia, posting record levels of trading activity. YNH Property witnessed an all-time high trading volume of 218.95 million shares, exceeding 166 times its one-year daily average of 1.32 million shares. This is equivalent to 41.42% of its share base of 528.49 million shares. The counter hit limit-down twice on Monday at 55.5 sen but pared losses to 56.5 sen, still down 29 sen or 33.92% from its previous close of 85.5 sen.

$SAMAIDEN (0223.MY)$: Samaiden Group has secured a RM100 million contract to build a 50-megawatt solar power plant in Kulim Hi-Tech Park, Kedah. Its unit, Samaiden Sdn Bhd, together with its consortium JS Solar Sdn Bhd, have secured the engineering, procurement, construction, and commissioning contract from Nur Renewables Sdn Bhd. The contract value includes RM92 million as the contract price and RM8 million for optional items. Samaiden added that the solar modules will be free-issued by Nur Renewables, and the works are expected to be finished by 31 March 2025.

$TAS (5149.MY)$: TAS Offshore has secured shipbuilding contracts for three units of tugboats with a total value of RM22.6 million through its wholly-owned subsidiary. The company stated that the contracts were signed with an existing customer from Indonesia and that the vessels are expected to be delivered in the third quarter of 2025. TAS added that the revenue generated from the contract is expected to contribute positively to its earnings for the financial year ending 31 May 2026.

$BDB (6173.MY)$: Bina Darulaman has partnered with Shanghai Youzhu Industry to pursue an industrial waste management project aligned with the Kedah Development Plan 2035 (PPK 2035). BDB's executive director Raja Shahreen Raja Othman stated that the proposed project mirrors regional aspirations outlined in PPK 2035 and aligns seamlessly with national and global initiatives, including the National Cleanliness Policy, National Climate Change Policy, and Sustainable Development Goals. The collaboration is an integral component of BDB's new strategic business plan.

$G3 (7184.MY)$: Global Man Capital has ceased to be a substantial shareholder in G3 Global following the disposal of 168.67 million shares or 4.47% in the ICT company via off-market trade. The sale, which resulted in Global Man Capital being left with 180 million shares or 4.77% in G3, was linked to Datuk Wan Khalik Wan Muhammad and Datuk Khan Mohd Akram Khan. The buyer is unknown at the time of writing.

$AJIYA (7609.MY)$: Ajiya has recorded a net loss of RM13.02 million in the fourth quarter ended 30 November 2023, compared to a net profit of RM9.48 million in the previous corresponding quarter. The significant earnings contraction was due to investment loss of RM9.57 million and impairments of RM2.88 million for stock and RM3.1 million for retrenchment benefits, among others. Loss per share stood at 4.47 sen, contrasting with earnings per share of 3.29 sen in 4QFY2023. However, quarterly revenue increased by 20.9% to RM89.64 million from RM74.17 million in the previous corresponding quarter, primarily due to an improvement in demand for the group’s products.

$PGF (8117.MY)$: PGF Capital has reported a net profit of RM5.4 million in the third quarter ended 30 November 2023, more than double the RM2.03 million recorded in the previous corresponding period, driven by higher revenue. Quarterly revenue surged 107% to RM36.7 million from RM17.75 million a year ago, primarily due to improved production output and increased sales in the Oceania market in the insulation segment. The group's insulation segment's profit before tax was RM7.44 million, compared to RM3.71 million previously, in line with the increase in revenue. However, its property development segment recorded a slight increase in its loss before tax to RM0.26 million compared to a loss before tax of RM0.23 million a year ago.

$UOAREIT (5110.MY)$: UOA REIT has reported a net rental income of RM18.76 million in the fourth quarter ended 31 December 2023, an 11.77% decline from RM21.26 million a year earlier. The decrease was due to lower gross rental and higher property operating expenses, which rose due to higher electricity costs and routine lift maintenance that occurs every few years. Total income dropped 11.52% to RM18.94 million from RM21.41 million in 4QFY2022. Net profit contracted 17.59% to RM11.38 million from RM13.81 million, while earnings per unit shrunk to 1.68 sen from 2.04 sen. Quarterly revenue dropped 3.52% to RM27.30 million from RM28.3 million a year earlier.