FINWIRES · TerminalLIVE
FINWIRES

Malaysian Shares End in Red as July Trade Surplus Widens on Strong Exports; CBHB Engineering Shares Rise 7%

By

Malaysian blue-chip index ended in green on Thursday, as investor sentiment rebounded on upbeat trade data.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 5.39 points to end 0.3% higher at 1,736.71.

In economic news, Malaysia's trade surplus expanded to 22.5 billion ringgit in July, marking the 75th consecutive month of surplus since May 2020, according to data from the Department of Statistics Malaysia. The surplus beat the consensus forecast of 17.5 billion ringgit in surplus tracked by Investing.com, and compared with a surplus of 14.9 billion ringgit recorded in the previous month.

Total exports grew 38% year over year to 193.6 billion ringgit, compared with a 45.5% increase in the prior month. Imports rose 36.4% to 171.1 billion ringgit, versus the 43.1% increase in June.

In corporate news, shares of CBHB Engineering (KLSE:CBHB) rallied about 7% on today's close after its unit CBH Engineering secured a 246 million ringgit contract to supply, install, test and commission high-voltage transformers and related equipment for a 275 kilovolt substation serving a data center in Johor, Malaysia.

Shares of Sunway Healthcare (KLSE:SUNMED) gained over 1% on close after its profit attributable to owners surged 89% annually to 78.2 million ringgit in the second quarter from 41.4 million ringgit a year earlier.

Related Articles

Asia

Fitch Keeps Petrovietnam Refining and Petrochemical's Rating at BB+, Outlook Stable

Fitch Ratings affirmed Petrovietnam Refining and Petrochemical's (HOSE:BSR) long-term issuer default rating at BB+, with a stable outlook.Fitch said the company's standalone credit profile of bb- reflects its strong market position and robust financial profile, partly offset by the small scale and below-average complexity of its Dung Quat refinery.The agency expects the company's refinery upgrade and expansion to raise capacity by 15% to 171,000 barrels per day.Fitch expects Petrovietnam Refining and Petrochemical to remain in a net cash position over the next two to three years despite rising capex during construction.The rating could be downgraded if PVN's rating falls or its incentives to support BSR weaken, while an upgrade would depend on a higher PVN rating with support incentives intact.

HOSE:BSR
Asia

Kingsoft Office Software H1 Profit Up 237%, Revenue Climbs 25%

Beijing Kingsoft Office Software (SHA:688111) posted first-half attributable net profit of 2.52 billion yuan, up 237% from 747.2 million yuan the previous year.Earnings per share rose to 5.41 yuan from 1.61 yuan, according to a Thursday filing with the Shanghai bourse.Revenue climbed 25% year over year to 3.31 billion yuan from 2.66 billion yuan.

SHA:688111
Asia

Bank of Ningbo's H1 Profit, Revenue Rise 12%; Shares Up 3%

Bank of Ningbo's (SHE:002142) net profit attributable to shareholders in the first half rose 12% to 16.6 billion yuan from 14.8 billion yuan a year earlier, according to a Shenzhen bourse filing on Thursday.Earnings per share increased year on year to 2.51 yuan from 2.24 yuan.Operating revenue also climbed 12% to 41.5 billion yuan from 37.2 billion yuan in the prior year.The lender said it will distribute a cash dividend of 4 yuan for every ten shares to registered shareholders.The company's shares rose 3% during the morning trade.

SHE:002142