Trading ideas: MN Holdings, VSTECS, Sunway REIT, Steel Hawk, Sapura Energy, Yinson
Sunway REIT reported a 20% increase in net property income (NPI), rising to RM157.2mil in the first quarter ended March 31, 2025 (1Q25) from RM130.5mil in 1Q24.
It recorded a 23% year-on-year increase in revenue to RM218.9mil for 1Q25, compared to RM178.6mil in the year-ago quarter.
MN's wholly owned subsidiary, Mutu Nusantara Sdn Bhd, has secured a RM37.9mil contract from a customer providing civil engineering and electrical works.
Steel Hawk reported a net profit of RM8.2mil in the first quarter ended March 31 (1Q25), more than double the amount from the previous year. Revenue surged over 2.5 times to RM52.5mil.
Sapura Energy is finalising a regularisation plan to exit its PN17 status, which includes a RM1.1bil fund-raising initiative, debt restructuring, and capital reconstruction.
The plan aims to improve the company's financial and operational standing, with a focus on long-term sustainability and profitability.
In 1Q25, VSTECS' net profit rose 24% to RM17.7mil, or earnings per share of 5.00 sen compared with RM14.3mil, or 4.00 sen in the year-ago quarter.
Revenue for the quarter rose to RM691.7mil against RM616.4mil.
Yinson has set the issue price for its dividend reinvestment plan shares at RM2.29, a 19.3% premium to the ex-dividend VWAP.
The company also declared a final single-tier dividend of one sen per share for the financial year ending January 31, 2025.
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