KLSE:WPRTS

Westports Seeks Listing of Shares Under Dividend Reinvestment Plan

Westports (KLSE:WPRTS) has applied to Bursa Malaysia for the listing and quotation of shares to be issued under its dividend reinvestment plan for the first interim dividend for fiscal 2026, according to a Friday Malaysian bourse filing.Westports declared a single-tier first interim dividend of 0.1498 ringgit per share on Thursday.The dividend reinvestment plan would apply to the payout, it said.

Malaysian Shares End in Red Amid Regional Sell-Off

Malaysian shares ended in the red on Friday, snapping yesterday's gains. Investor sentiment mirrored a downbeat regional performance.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 13.57 points to end 0.1% lower at 1,701.02.Malaysia's coincident index, which gauges current economic conditions, fell 0.3% month over month in May to 131.2 points from 131.6 points in April, according to the Department of Statistics Malaysia. The reading missed the 0.5% growth forecast tracked by Trading Economics. On an annual basis, the index rose 2.5% to 131.2 points from 128 points a year earlier.Meanwhile, Malaysia's leading index, which anticipates economic direction in the near term, ticked down 0.5% month over month in May. The pace of growth missed the Trading Economics forecast of 0.3%.Malaysia completed a $1.5 billion dual-tranche global sukuk, or Islamic bond, issuance after attracting investor orders exceeding $9.5 billion, or 4.7 times the amount offered, the country's finance ministry reported. The sale comprised an $850 million sukuk, maturing in 5.75 years, and a $650 million tranche, with a 10-year tenor.In corporate news, shares of Westports (KLSE:WPRTS) gained over 2% on today's close after it posted a profit attributable to owners of 360.9 million ringgit in the second quarter, up 56% from 231.6 million ringgit a year earlier. Earnings per share surged 56% to 0.105 ringgit, from 0.0679 ringgit a year prior.Shares of Kerjaya Prospek Group (KLSE:KERJAYA) also rose over 2% on Friday's close after it secured a 52.5 million ringgit subcontract to carry out civil, structural, and basic low-voltage mechanical and electrical works for a data center project in Malaysia's Klang Valley.

Westports' Profit Soars 56% in Q2

Westports (KLSE:WPRTS) posted a profit attributable to owners of 360.9 million ringgit in the second quarter, up 56% from 231.6 million ringgit a year earlier.Earnings per share surged 56% to 0.105 ringgit, from 0.0679 ringgit a year prior, according to a Friday Malaysian bourse filing.Revenue rose 25% to 866.9 million ringgit, from 691.1 million ringgit a year ago, the marine cargo handling company said.The board approved the first interim dividend of 0.1498 ringgit per share for the financial year ending Dec. 31.

Affin Hwang Downgrades Westports Holdings to Hold from Buy; Price Target is MYR5.90