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PETALING JAYA: Robust 2023 earnings have been pushing poultry-related stocks – with some counters having experienced a “mini bull run” on Bursa Malaysia especially since the beginning of the year.
KUALA LUMPUR: Companies that recently made headlines include PLS Plantation, DNeX, Sapura Energy, Tex Cycle, Exsim, Teo Seng and KESM, said Apex Securities Research.
Teo Seng Capital Bhd on Thursday declared non-cash dividend as its fourth interim dividend following the poultry company's record-high earnings in the year ended Dec 31, 2023.
After recording a 20-month high on Tuesday, stocks on Bursa Malaysia took a breather and the benchmark FBM KLCI ended Wednesday’s morning trading session slightly lower, with all sectors mostly in the red ahead of the Federal Open Market Committee (FOMC) meeting minutes for the first monetary policy meeting of 2024 later in the night.
KUALA LUMPUR: Companies whose stock could be seeing trading interest on Wednesday include Teo Seong, Globetronics, Green Packet, SunCon, KLK, Star Media, Gas Malaysia, CelcomDigi, Hume Cement and Supermax, said Apex Securities Research.
Egg producer Teo Seng Capital Bhd closed its financial year 2023 with a record high annual earnings of RM155.8 million, seven times higher than the RM21.64 million it made in FY2022, as it sold more eggs at better selling prices and received subsidy from the government.
KUALA LUMPUR: Teo Seng Capital Bhd, which saw its net profit surge over five folds to RM66.9mil in the fourth quarter ended Dec 31, 2023 (4Q23), expects to sustain its financial performance in the financial year ending Dec 31, 2024 (FY24).