Company Overview and News
Engtex Group Bhd (Sept 4, RM1) Maintain hold with a lower target price of 88 sen: Engtex Group Bhd’s net profit for second quarter of financial year 2018 (2QFY18) declined 54% year-on-year (y-o-y) to RM6.3 million due to higher raw material costs, escalated operating costs, and higher interest costs. Quarterly revenue was flat at RM286.1 million as higher contribution from manufacturing and hospitality cushioned the decline in property development sales.
FINALLY, the decade-long water impasse in Selangor looks like it is nearly over as parties owning Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) have indicated their acceptance of a RM2.55 billion offer by the state for the water concessionaire’s assets.
KUALA LUMPUR (Aug 3): Shares of water pipe manufacturers rose today as the Selangor government announced it would offer RM2.25 billion to take over Syarikat Bekalan Air Selangor Sdn Bhd (Splash), in a move towards solving the impasse over the state's water assets.
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Engtex Group Bhd (+ve) TRADING of shares in Engtex Group Bhd (fundamental: 0.8/3, valuation: 1.4/3) triggered our momentum algorithm yesterday for the first time this year. The company saw 5.94 million shares traded, exceeding the counter’s 200-day average of 1.04 million. The stock fell two sen or 1.77% to RM1.11, leaving it with a market capitalisation of RM483.66 million. Engtex Group was last traded at 0.
Construction sector Maintain neutral: Post-14th general election, the new Pakatan Harapan government embarked on a review of all megaprojects, as promised in its election manifesto. The Kuala Lumpur-Singapore high-speed rail (RM60 billion to RM70 billion) and mass rapid transit Line 3 (MRT3) (RM40 billion) were shelved shortly thereafter. Although there were reports regarding the revival of these projects, we reckon that chances are slim in the near term.
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PETALING JAYA: Engtex Group Bhd could emerge as a strong contender for some RM1bil worth of water pipe replacement contracts up for grabs in Selangor, RHB Research said.
Water treatment and services sector Maintain neutral: The July 4 deadline to resolve the water impasse in Selangor that was set before the 14th general election lapsed yesterday. On Tuesday, new Water, Land and Natural Resources Minister Dr A Xavier Jayakumar pledged to conclude the takeover of Syarikat Pengeluaran Air Sungai Selangor Sdn Bhd (SPLASH), the last of the four water treatment plant concessionaires to be brought under the state.
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Engtex Group Bhd (June 12, RM1.03) Downgrade to hold with a lower target price (TP) of 99 sen: Engtex Group Bhd’s new steel pipe plant in Kuantan and steel mill plant in Melaka commenced operations with utilisation rates of 2.7% and 10% respectively. The combined revenue contribution from both plants amounted to RM8.2 million or 5.2% of total revenue in first quarter of financial year 2018 (1QFY18).
2018-10-01 - Asif
Overview The following discussion and analysis should be read in conjunction with its unaudited interim condensed consolidated financial statements and the related notes that appear elsewhere in this quarterly report on Form 10-Q. This discussion contains forward-looking statements reflecting its current expectations that involve risks and uncertainties. Actual results may differ materially from those discussed in these forward-looking statements due to a number of factors, including those set forth in the section entitled “Risk Factors” in its most recent annual report on Form 10-K. For further information regarding forward-looking statements, please refer to the “Special Note Regarding Forward-Looking Statements and Projections” immediately after the index to this quarterly report on Form 10-Q. Alimera Sciences, Inc., and its subsidiaries (we or Alimera), is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharma...
2018-09-25 - Asif
Background DelMar Pharmaceuticals, Inc. is a clinical stage drug development company with a focus on the treatment of cancer. The company's mission is to benefit patients and create shareholder value by developing and commercializing anti-cancer therapies for patients whose tumors exhibit features that make them resistant to, or unlikely to respond to, currently available therapies, particularly for orphan cancer indications where patients have failed, or are unlikely to respond to, currently available therapy. DelMar Pharmaceuticals is developing VAL-083, a novel, DNA-targeting agent, for the treatment of glioblastoma multiforme (“GBM”) and potentially other solid tumors, including ovarian cancer. VAL-083 is a first-in-class, DNA-targeting chemotherapeutic that demonstrated activity against a range of tumor types in prior Phase 1 and Phase 2 clinical studies sponsored by the US National Cancer Institute (“NCI”). The company's recent research has highlighted the opportunit...
2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...