MPI emerges as top gainer on firm earnings, dividend

KUALA LUMPUR (Nov 26): Malaysian Pacific Industries Bhd (MPI) emerged as the top gainer in morning trade on Bursa Malaysia today, rising as much as RM2.04 or 8.64% to RM25.64, after the group registered all-time high quarterly earnings of RM55.3 million. MPI declared a dividend of 10 sen per share, payable on Dec 24. At 11.40am, the stock had pared some gains at RM25.56, still up RM1.96 or 8.31%. The counter saw 425,500 shares traded. Kenanga Research analyst Samuel Tan said in a note today MPI had registered all-time high quarterly earnings as its core net profit for the first quarter ended Sept 30, 2020 (1QFY21) came in above expectations at RM55.3 million, representing 31% of his full-year estimate.

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