Trading ideas: FGV, BJFood, Sapura Energy, Solarvest, JHM, Bank Islam, Maybank, Axiata, Media Prima, Sime Property, Sunway, HLBank, Public Bank

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

FGV Holdings Bhd expects its oleochemical segment to see improved sales volume this year as raw material costs stabilise, said group chief executive officer Fakhrunniam Othman.

Berjaya Food Bhd has inked a deal with Abu Dhabi-based Samaya Food Investments L.L.C to bring Paris Baguette bakery café brand to the United Arab Emirates.

Sapura Energy Bhd’s drilling arm, Sapura Drilling, secured multiple contracts with a combined value of approximately RM3.2bn. The group won two contracts from PTTEP Energy Development Ltd for the provision of its tender assist drilling rigs, Sapura T-17 and Sapura T-18.

Australia-based property developer Exal Group, through its subsidiary Exal Malaysia Sdn Bhd, has signed a MOU with Solarvest Holdings Bhd to install a rooftop solar photovoltaic system and electric vehicle charging infrastructure at its SÓL Estate development and future property development projects, and GreenRE Sdn Bhd.

JHM Consolidation Bhd’s wholly-owned subsidiary, Morrissey Assembly Solution Sdn Bhd, has secured a RM115.2mn contract from Magna Autosystems Inc for supplying parts for a car model in the US.

Armani Group and Bank Islam Malaysia Bhd have signed a memorandum of understanding on Feb 25 to offer homebuyers of Armani's developments end-financing, starting with the Residensi Armani Kg Baru 1 project in Kuala Lumpur.

Malayan Banking Bhd’s net profit rose 6% YoY to RM2.53bn in 4QFY24 from RM2.39bn, thanks to higher net interest income and insurance earnings.

Axiata Group Bhd made a turnaround with a net profit of RM946.8mn in FY24 versus a net loss of RM2bn in FY23. This was contributed by gains from PT XL Axiata Tbk, Edotco Group Sdn Bhd, Robi Axiata Ltd, and Smart Axiata Co Ltd.

Media Prima Bhd recorded a 2% YoY revenue growth to RM228mn in 2QFY25 from RM223.7mn, driven by improved revenue in the home shopping and publishing segments.

Sime Darby Property Bhd’s net profit declined 32.6% YoY to RM88.4mn for 4QFY24 from RM131.3mn, amid lower contributions from joint ventures.

Sunway Bhd posted a 26% YoY growth in net profit to RM335.5mn for 4QFY24 from RM266mn, driven by higher contributions from most of its business segments.

Hong Leong Bank Bhd’s net profit rose 5.5% YoY to RM1.15bn for 2QFY25 from RM1.09bn, as higher net interest income and Islamic banking contributions boosted earnings.

Public Bank Bhd’s net profit rose 11.4% YoY to RM1.8bn in 4QFY24 from RM1.62bn, supported by higher net interest income, strong Islamic banking contributions, and improved fee-based income.