*RHB Investment Bank Bhd* *_21st May 2021_* *Dow Jones* : 34 | StockiesMY

*RHB Investment Bank Bhd*

*_21st May 2021_*

*Dow Jones* : 34,084.15
188.11 / 0.55%

*Nasdaq* : 13,535.74
236.00 / 1.77%

_Wall Street rallies after jobless claims; Oatly jumps in debut_


*GOLD PRICE* : 1,877.59
8.00 / 0.43%

*WTI CRUDE OIL* : 61.95
1.43 / 2.26%

*BRENT OIL* : 64.91
1.78 / 2.67%


*USD/MYR* : 4.14


*CORPORATE NEWS*

•* Nestlé (M) Bhd* has moved its corporate headquarters to 1 Powerhouse, Bandar Utama from Surian Tower in Mutiara Damansara. The move is aligned with the group's ongoing efforts to embrace the future of work through a purposeful workplace design following the Covid-19 pandemic.

•* Globaltec Formation Bhd* said its Australia-listed subsidiary NuEnergy Gas Ltd is expected to obtain approval from the Indonesian government to develop its Tanjung Enim block in South Sumatera. The approval is expected to be granted on June 17.

•* Y&G Corp Bhd* has been slapped with an unusual market activity query by Bursa Malaysia, after its share price hit limit up again today. In these past few days, Y&G’s share price has climbed 168% from 56 sen last Wednesday.

•* Econpile Holdings Bhd* said it has received a piling and foundation works award for a service apartment project along Jalan Raja Chulan, Kuala Lumpur for RM64.25 million. The job was awarded by GDP Architects Sdn Bhd on behalf of Armani Hartajaya Sdn Bhd.

•* Freight Management Holdings Bhd’s* net profit for the third quarter ended March 31, 2021 soared 199% to RM6.05 million from RM2.03 million a year earlier, mainly due to improved performance of its Malaysian and overseas operations. Quarterly revenue climbed 57.55% to RM215.79 million from RM136.97 million due to higher freight rates and an improvement in business activities.

•* Sime Darby Plantation Bhd's* net profit for the first quarter ended March 31, 2021 rose 20.09% to RM562 million, from RM468 million a year ago, largely on the back of a better upstream segment performance in Indonesia, Papua New Guinea and the Solomon Islands. Quarterly revenue rose 20.66% to RM3.67 billion from RM3.04 billion.

•* Hock Seng Lee Bhd’s (HSL)* net profit for the first quarter ended March 31, 2021 rose 20.38% to RM9.09 million from RM7.55 million a year ago, underpinned mainly by the construction segment. The group’s revenue grew 41.91% to RM159.5 million from RM112.4 million.

•* KPower Bhd's* third quarter net profit jumped about fivefold to RM14.15 million from RM2.67 million a year earlier, partly helped by a significant increase in the group’s construction-related activities. The group said revenue surged to RM137.66 million in the third quarter ended March 31, 2021, from RM31.68 million.

•* Widetech (Malaysia) Bhd* has been slapped with an unusual market activity query by Bursa Malaysia on the sharp rise in its share price and volume today. Widetech shares have gained 420% year to date from a mere 60 sen apiece in January.

•* Sarawak Plantation Bhd* saw its net profit for the first quarter ended March 31, 2021 surge 308% to RM23.75 million from RM5.82 million a year ago, on increased operating profit and gain arising from changes in fair value of biological assets of RM12.1 million for the current quarter. Quarterly revenue rose 47% to RM145.53 million compared with RM98.88 million a year ago on higher realised average selling price of crude palm oil and palm kernel.

•* Leong Hup International Bhd* booked a fresh record quarterly net profit of RM70.33 million for the first quarter ended March 31, 2021 (1QFY21), more than three times the RM21.79 million reported a year earlier, as revenue grew 16.9% to RM1.68 billion on higher income from the sale of livestock and poultry-related products besides livestock feed. Its previous record was set in 1QFY19 when it achieved RM60.58 million in net profit.