Malton Up 0.7%; 1Q Net Profit More Than Doubles

 Malton (6181.KU) is up 0.7% at MYR0.695, outperforming the property sector, after reporting strong 1Q results; its net profit more than doubled to MYR12.1 million in 1Q from MYR5.5 million a year earlier while revenue rose 44% on year to MYR99.3 million from MYR68.8 million. 

 While the strong results improved Malton's fundamentals, some investors are betting that its major shareholder may consider a buyout; this will likely keep its share price well supported until the company confirms or denies such speculation.