$MRDIY (5296.MY)$
The new store helped earn 145 million dollars in the first quarter, and Mr. DIY paid 1 cent per share in dividends
Thanks to the opening of 173 new stores, Mr. DIY (MRDIY, 5296, motherboard consumer stock)'s net profit for the first quarter of fiscal year 2024 rose 13.39% year over year to RM144.882,000, while also paying 1 cent per share.
For the first quarter of the 2024 fiscal year ending at the end of March, revenue was reported at RM1,143,501,000, up 9.24% year over year.
According to the statement, the increase in revenue was mainly due to the addition of new stores. As of the first quarter of fiscal year 2024, the number of stores had increased by 15.4%, from 1125 to 1,298.
However, the increase in new stores also led to a year-on-year increase of 17.5% and 13.8% in management and other operating expenses. In the future, these management expenses will also increase at the same time as the Group's expansion.
CEO Wang Cuiren said that although it is still facing inflationary pressure, the company is concerned that this will pose a challenge to many households, so it is committed to keeping daily necessities at low prices.
Despite this, Wang Cuiren is confident about his future prospects and performed well in the first quarter of 2024. He believes this trend will continue throughout 2024.
The company plans to add 180 stores this year and break the target of 2,000 stores by 2028.”
As for the dividend exclusion date and payment date, they fall on May 30 and June 21, respectively.
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$
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$SCABLE (5170.MY)$
PN17 company Sarawak Cable (SCABLE, 5170, main board industrial stock) failed to reach an agreement with the White Knight, causing the rescue plan to fall through. The stock price plummeted nearly 26% at one point, but towards the end experienced a major turnaround, rising by 3.23%.
Perhaps investors are happy to see the agreement fall through, as it may attract better White Knights and lead to people entering the market.
Alternatively, it may be that major shareholders are intentionally selling stocks, making large purchases at the end and taking advantage of the opportunity to leave, but this is not certain.
Yesterday, the company announced on the Malaysia Exchange that they were unable to reach an agreement with Serendib Capital on the exclusive company relationship stipulated at the end of 2023.
Earlier, Sarawak Cable confirmed that the United Kingdom investment institution Serendib Capital would become the white knight to rescue the company and inject 0.25 billion ringgit to help the company restructure.
The news of the rescue briefly caused the stock to soar to a high of 48 cents, but later, amid intense volatility, the stock price has slipped.
Source: Nanyang Siang Pau
Disclaimer: This content is for reference and educational purposes only and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and responsibilities resulting from relying on this content. Before making any investment decisions, please conduct your independent research and evaluation, and consult with professionals when necessary. The author and related participants are not responsible for any losses or damages resulting from the use or reliance on the information contained in this article.

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