by TMR/ graphic by ANIS SHAMSUL

Coastal Contracts earnings rise on stronger revenue
Coastal Contracts Bhd’s net profit rose 38.3% year-on-year (YoY) to RM23.65 million for its first quarter ended Sept 30 this year on higher turnover from shipbuilding and ship repair and vessel chartering. The global integrated marine oil and gas service provider told Bursa Malaysia yesterday the higher revenue from shipbuilding and ship repair was due to the successful delivery of four units of low-end vessels.  Turnover from vessel chartering rose on new contracts secured for the quarter. Group revenue for the quarter rose 64.9% YoY to RM61.23 million. The company expects the market for offshore support vessel (OSV) to stay firm in the long term.

Bursa Malaysia sells CME shares for RM73m
Bursa Malaysia Bhd has sold 85,000 class A common stock of CME Group Inc for RM73.45 million in the open market on the Nasdaq stock market between Nov 20, 2019 to Nov 22, 2019. The proceeds from the disposal will be utilised for the acquisition of the 25% equity interest in Bursa Malaysia Derivatives Bhd from CME Group Strategic Investments LLC as announced on Sept 18, 2019, Bursa Malaysia noted in its exchange filing yesterday.

Favelle Favco receives contracts worth RM68.8m
Favelle Favco Bhd’s (FFB) wholly-owned subsidiaries, Favelle Favco Cranes (M) Sdn Bhd, Favelle Favco Cranes Pte Ltd, Favelle Favco Cranes Pty Ltd and Exact Automation Sdn Bhd have received contracts from eight companies respectively from Oct 17, 2019 to Nov 25, 2019 worth a combined RM68.8 million, its exchange filing yesterday noted.