Malaysia - Market News

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Market News on 31 MARCH 2023

Dow ends higher as tech continues to shine; Inflation eyed (Investing.com)

Fed officials keep rate hike door open, say bank stress may weigh on outlook (Reuters)

China-driven growth seen helping emerging assets despite bank worries (Reuters)

US semiconductor index hits highest in nearly a year on hopes for industry turn (Reuters)

Jobless claims edge up to 198,000, higher than expected (CNBC)

German inflation eases less than expected in March (Reuters)

BNM expected to hold OPR till year-end but has room for 25 bps adjustment: Kenanga Research (The Star)

MyEG partners China Customs' agency to provide cross-border trade facilitation services (The Edge)

Creador to exit MR DIY, offloading a 4.92% stake for RM664.2 million — report (The Edge)

ManagePay (MPAY) to team up with Eddid to apply for capital market services licence and launch securities trading app (The Edge)

Tanco wins RM43.37mil contract for ECRL project (The Edge)

PTT Synergy (PTT) to acquire construction outfit for RM152m (The Malaysian Reserve)

Careplus grants Macquarie Bank right to subscribe up to 16.59% stake via placement  (The Edge)

Pentamaster sets up German unit for expansion in Europe (The Edge)

Axiata set for strategic review to revamp RM81.6b portfolio, sources say (The Edge)

Vizione revokes agreement for RM38 mil acquisition of property firm from MD (The Edge)

Pharmaniaga says payment delays to suppliers to normalise, govt not overly reliant on its services (The Edge)

PN17 firm Iqzan adds share consolidation as part of regularisation plan (The Edge)

ACE Market-bound Edelteq inks IPO underwriting agreement with UOB Kay Hian (The Edge)

Thursday, 30 Mar 2023 Entitlement Announcement

5:12PM  CRESNDO   Final Dividend 
12:54PM  KPS   Final Dividend

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Market News on 3 APRIL 2023

Indexes jump on inflation data; Nasdaq posts best qtr since 2020 (Investing.com)

Key Fed inflation gauge rose 0.3% in February, less than expected (CNBC)

US semiconductor index hits highest in nearly a year on hopes for industry turn (Reuters)

China manufacturing activity expands at slower pace in March (The Star)

China's central bank calls for stronger defences against financial crisis (Reuters)

Oil soars more than $5 per barrel, jolted by surprise OPEC+ output cuts (Reuters)

World Bank: Malaysia better off having trade agreements with both US, China (The Sun)

Malaysian Palm Oil Board (MPOB), China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce, and Animal By-products (CFNA) to enhance trade, cooperation on palm oil supply chain stabilization (The Edge)

Miti generates RM170 bil potential FDI, RM2.44 bil potential exports to China (The Edge)

DRB-Hicom, Geely ink HOA for Automotive High-Tech Valley development in Tanjung Malim (The Edge)

Kejuruteraan Asasteras (KAB)' EGM for RM75 mil hydropower business acquisition postponed (The Edge)

Land & General (L&G)’s MD to take up 10% stake in unit undertaking housing project (The Edge)

Computer Forms(CFM)' controlling shareholder sells off 49.76% stake (The Edge)

SIAB, Yong Tai mutually terminate two outstanding condominium projects valued at RM190.4 mil (The Edge)

Uzma inks RM70 mil virtual pipeline LNG supply contract with Nine Dragons Paper unit (The Edge)

Teow Chee Chow, Teow Wooi Pin now substantial ATTA Global shareholders (The Edge)

Pimpinan Ehsan (PEP) granted six-month extension to submit regularisation plan (The Edge)

Boost and RHB Bank ink share subscription agreements (The Star)

Comintel bags RM168.3mil construction contract (The Star)

Samaiden completes transfer to Main Market (The Star)   

Friday, 31 Mar 2023 Entitlement Announcement

1:05PM  MHC   Interim Dividend 
1:04PM  MHC   Special Dividend

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Market News on 4 APRIL 2023

Dow closes 300 points higher to begin April’s trading, S&P 500 notches fourth day of gains (CNBC)

US manufacturing near three-year low; casts a shadow over economy (Reuters)

Janet Yellen says OPEC+ production cut is an ‘unconstructive act’ (CNBC)

China urges Japan not to back U.S. chip export restrictions as Washington tries to rally allies (CNBC)

S&P Global sees minimal spillover of US banking trauma in Asia-Pacific (Apac) (The Edge)

Malaysia's manufacturing PMI better at 48.4 in March - S&P Global (The Star)

Affin says LTAT 'in discussions' with Sarawak over potential stake sale, confirms The Edge story (The Edge)

Affin Bank and Generali complete merger of general insurance business (The Edge)

Lay Hong buys out NH Food's stake in processed foods JV (The Edge)

Reach Energy slips into PN17 status a month after 4Q results (The Edge)

PLS Plantations partners China's Cofco to develop food security initiatives (The Edge)

Nextgreen (NGGB) sets up SPV to develop 20 oil palm waste centres in Malaysia (The Edge)

Sunsuria explores EV venture with China’s IAT Automobile (The Edge)

Ranhill-Sabah Energy consortium wins 100MW power plant tender (The Edge)

MN Holdings partners DC-Science in US$600mil data centre project in Johor (The Star)

Proton to introduce electric and hybrid vehicles this year (The Edge)

Radium Development inks underwriting agreement with Malacca Securities and CIMB Investment Bank (The Edge)

Monday, 3 Apr 2023 Entitlement Announcement

5:49PM  BIMB   Second Interim Dividend (with Dividend Re-Investment Plan) 
5:34PM  RHBBANK   Second Interim Dividend (with Dividend Re-Investment Plan) 
5:28PM  HEXTAR   Bonus Issue 
5:27PM  PASUKGB   Share Consolidation 
5:26PM  PASUKGB-WA   Adjustment 
5:13PM  ALAQAR   Income Distribution

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Market News on 5 APRIL 2023

Stocks, yields fall; data suggests U.S. economy cooling (Reuters)

US labor market loosening as job openings approach two-year low (Reuters)

Yellen urges IMF to press creditors to finalize debt restructurings (Reuters)

China's reopening brightens developing Asia's 2023 growth outlook – Asian Development Bank (ADB) (Reuters)

China's blockchain technology for PCO to better facilitate Malaysia's exports to China (The Star)

Amanat Lebuhraya Rakyat Bhd (ALR) reaches understanding with Kesas, Sprint and Litrak on warranty claims: Gamuda (The Star)

Fitters to seek non-interested shareholders’ nod to ratify purchase of Computer Forms shares as Bursa says deal is RPT（The Edge)

SunCon receives additional RM606.6 mil worth of works for South Quay Square project (The Edge)

Prolexus denies allegations of CMSA breach, rejects demand of mandatory general offer for SMI (The Edge)

Coastal Contracts wins contracts for sales of two vessels for RM287.3mil (The Star)

Vincent Tan ceases to be Bland's substantial shareholder (The Edge)

Southern Cable (SCABLE) orderbook swells to RM609 mil with TNB’s contract addendum (The Edge)

Al-'Aqar Healthcare REIT's private placement fixed at RM1.20 a unit (The Edge)

Mah Sing collaborates with China Electronic Chamber of Commerce (CECC) to provide one-stop service for Chinese investors (The Edge)
 
Tuesday, 4 Apr 2023 Entitlement Announcement

5:29PM  VOLCANO   Interim Dividend 
12:34PM  PWF   First Interim

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Market News on 6 APRIL 2023

Dow ends higher on healthcare climb but tech wreck persists (Investing.com)

US services sector growth slows; price pressures abating (Reuters)

JPMorgan's Dimon says US banking turmoil not over, sees long repercussions (Reuters)

IMF warns geopolitical fragmentation could raise financial stability risks (Reuters)

China urges the World Trade Organization to sift U.S.-led chip export curbs (CNBC)

S&P Global expects Malaysia's economy to grow at 3.2% in 2023 (The Star)

Pecca’s aviation business gets major boost post-certification by Europe’s leading aviation authority (The Sun)

G Capital proposes four-for-one RCULS rights issue to raise up to RM112.88 mil (The Edge)

Central Global (CGB)'s unit sued for allegedly failing to pay for construction supplies (The Edge)

Signature International (SIGN) buys 45% stake in home furnishing firm with semiconductor-based customers (The Edge)

Tanco scraps issuance of preference shares worth RM100 million to Socso (The Edge)

Infomina (INFORM) bags six-year contract from SSM (The Edge)

Opcom agrees on termination of project consultancy role with VC Telecoms (The Edge)

Pestech bags engineering, procurement, construction and commissioning (EPCC)  contract from Australian firm worth RM6.61m (The Edge)

Classita reaches settlement over RM3.96m advance provided by Tee Yam, Jessie Wong (The Edge)

Deleum wins slickline contract from ExxonMobil (The Star)

Malaysian Genomics (MGRC) teams up with Dubai-based parties (The Star)   

Wednesday, 5 Apr 2023 Entitlement Announcement
5:26PM  FOCUSP   Bonus Issue

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Market News on 7 APRIL 2023

Dow flat as tech jumps; energy tumbles ahead of jobs report (Investing.com)

US weekly jobless claims drop; revisions suggest labor market looser (Reuters)

'Powell's curve' plunges to new lows, flashing US recession warning (Reuters)

Key inflation data and earnings reports loom as labor market signals a slowing U.S. economy (CNBC)

IMF's Georgieva sees global growth below 3% in 2023, robust recovery 'elusive' (Reuters)

IMF says U.S-China tensions could cost the world about 2% of its output (CNBC)

China March services activity accelerates on new orders - Caixin PMI (Reuters)

February net foreign inflow into government bonds surged 840% m-o-m to RM4.7 bil (The Edge) 

Geely's RM30b investment opens new page for national EV ecosystem, says minister (The Edge) 

Citaglobal and Genetec form JV to manufacture battery energy storage systems (The Edge) 

Litrak proposes capital reduction and repayment involving RM275 mil cash distribution (The Edge)

HB Global (HBLOB) buys poultry firm for RM30 mil via new share issuance (The Edge)

ITMAX secures RM53 mil contract extension from DBKL for installation of street light systems (The Edge)

Deleum group CEO emerges as largest shareholder with 20.36% stake (The Edge)

Rhone Ma-Kulim JV appointed to develop Jemaluang Dairy Valley in Johor (The Edge)

MN Holdings bags RM13.3m underground utilities contract in Johor (The Edge)

MAHB loses appeal against Penang airport contractor claim, to pay additional RM8.7 mil (The Edge)

Dayang bags contract from PETRONAS Carigali (The Star)

Thursday, 6 Apr 2023 Entitlement Announcement

5:26PM  KSENG   Final Dividend 
1:10PM  RANHILL   Second Interim Dividend

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Market News on 10 APRIL 2023

Stock futures rise slightly ahead of key inflation data and the kickoff of earnings season (CNBC)

Job growth totals 236,000 in March, near expectations as hiring pace slows (CNBC)

China’s recovery is taking longer than expected, so Citi is pushing back its stock rebound forecasts (CNBC)

Asia's semiconductor prolonged downturn expected to bottom out in mid-2023 (The Edge)

Ageson proposes to transfer listing status to Afton Bhd via one-to-one share exchange (The Edge)

NWP inks RM36 mil deal with China Gezhouba Group to mine marine sand offshore Melaka (The Edge)

UEM Sunrise issues RM70m three-year Islamic notes in nominal value (The Edge)

Spritzer proposes one-for-two bonus issue (The Edge)

Tan Chong Motor (TCHONG) unit no longer sole importer of completely-built-up MG brand vehicles in Vietnam come end-June (The Edge)

Fajarbaru clinches RM125m mixed development construction job (The Edge)

OCR Group plans RM27m private placement to fund development projects (The Edge)

Press Metal secures export deal worth RM780m (The Edge)

Betamek signs 25-year solar PPA with ManagePay (MPAY) for Rawang manufacturing facility (The Edge)

Harn Len to acquire 100 pct stake in Almal Resources for RM54.72 mln (The Sun)

DRB-Hicom says RM32b investment planned for Automotive High-Tech Valley not solely from group and Geely (Bernama)

CIMB Investment Bank inks deal to buy KAF Equities, sources say (The Edge)

Friday, 7 Apr 2023 Entitlement Announcement

5:12PM  IDBTECH   Interim Dividend 
12:52PM  YXPM   First and Final Dividend

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Market News on 11 APRIL 2023

Dow ends higher as chip stocks climb to offset big tech wobble (Investing.com)

World Bank chief raises 2023 global growth outlook slightly, eyes debt progress (Reuters)

Fed might not need to hike rates in May as economy slows, says BlackRock (Reuters)

Apple’s Mac shipments fall more than 40%, worse than major rivals (CNBC)

Powerwell (PWRWELL) bags purchase order worth RM39 mil (The Edge)

KKB Engineering lands RM117m job from Samsung Engineering (The Malaysian Reserve)

Reach Energy says no intention to sell Kazakhstan assets in immediate future (The Edge)

Bee Family raises stake in MR DIY to 50.99% (The Edge)

UMW bags RM1b contract from Rolls-Royce (The Edge)

Petronas lifts suspension on Barakah Offshore’s subsidiary PBJV (The Edge)

Reservoir Link (RL) bags four solar jobs worth RM7 mil (The Edge)

Hong Seng's subsidiary receives MOH approval on managed care organisation application (The Edge)

Mudajaya bags RM64.1mil warehouse construction project (The Star)

Press Metal (PMETAL) bags aluminium ingot deal with Daching Enterprises (The Star)

SC to look into SMI's complaint alleging breach of mandatory general offer requirements by parties acting in concert (The Edge)

Bank claiming RM239 mil from Bintai Kinden over loan default (The Edge)


Monday, 10 Apr 2023 Entitlement Announcement

6:42PM  SENHENG   Second Interim Dividend 
5:34PM  MALAKOF   Final Dividend 
5:29PM  CCK   First and Final Dividend 
5:08PM  LEONFB   Final Dividend

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Market News on 14 APRIL 2023

Dow closes higher as big tech rallies; Bank earnings eyed (Investing.com)

Fed lending to banks still high, but eases in latest week (Reuters)

Hedge funds bought financial stocks amid banking turmoil, says S&P (Reuters)

China's exports rise unexpectedly, but economists warn of weakness ahead (Reuters)

Yong Tai terminates gold mining agreement (The Edge)

SFP Tech moots two-for-one bonus issue (The Edge)

Reservoir Link (RL) inks agreement to build wastewater treatment plant in Indonesia (The Edge)

PLS Plantations aborts cash crop JV in Pahang (The Edge)

Matrix Parking inks MOU with MPay, Netton to manage cashless payment at Lima 2023 (The Edge)

Hong Seng cancels plan to buy CSH Alliance’s EV distributor (The Edge)

Bintai Kinden believes it has good grounds of defence against Axbena’s RM28m claim for liquidated damages (The Edge)

LTAT sells 112.56 million shares in Affin Bank to Sarawak state entity (The Star)

Sarawak Cable (SCABLE), KAB extend conditional period for proposed disposal of Indonesia mini hydro by three months (The Edge)

Country Heights (CHHB) unaffected by bankruptcy order against founder Lee Kim Yew (The Star)

Perak Corp (PRKCORP) granted further six-month extension to submit regularisation plan (The Edge)

Metro Healthcare mulls transfer of listing from LEAP to ACE Market (The Edge)

Thursday, 13 Apr 2023 Entitlement Announcement

7:05PM  SEM   Interim Dividend 
6:01PM  KHJB   Final Dividend 
6:00PM  ULICORP   Second Interim Dividend 
5:43PM  UCHITEC   Special Dividend 
5:42PM  UCHITEC   Second Interim Dividend 
12:55PM  TOMEI   First and Final Dividend

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Market News on 17 April 2023

U.S. stocks fall after mixed economic data, strong bank earnings (Reuters)

Weak retail sales, manufacturing output data point to slowing US economy (Reuters)

IMF's Georgieva sees 'tangible progress' on debt issues, urges seeking help earlier (Reuters)

Yellen says U.S. banks may tighten lending and negate need for more Fed rate hikes (CNBC)

China March new home prices rise at fastest pace in 21 months (Reuters)

MOF: Moody's stable outlook rating reflects govt’s commitment to improve fiscal health (The Edge)

Malaysia plans to set up second 5G network from next year — sources (The Edge)

Pertama Digital says Macquarie Bank's share subscription will now be in two tranches; the second to be part of its regularisation plan (The Edge)

Sime Darby Plantation (SIMEPLT) sells two indirect units in Indonesia for RM518 mil as part of lawsuit settlement (The Edge)

Another substantial shareholder cuts stake in Computer Forms (CFM) (The Edge)

UCrest to raise RM6 mil via private placement for working capital (The Edge)

Fajarbaru’s unit secures logging rights from Yayasan Pahang for RM45.7 mil (The Edge)

PLS Plantations forms fresh cash crop JV with Landasan Erajaya (The Edge)

MOF greenlights MBSB-MIDF merger (The Edge)

TAFI Industries, Lambaian Delta terminate construction contract for MOH in Labuan (The Edge)

Atta Global changes name to Mayu Global (The Edge)

MMAG sues former directors over alleged breach of fiduciary duties (The Edge)

DKSH appointed distributor of Oradex oral care in Malaysia (The Star)

SNS Network awarded for promoting digital education in Malaysia (The Star)

ACE Market-bound Autocount to price IPO at 33 sen per share to raise RM30.88 mil (The Edge)

Friday, 14 Apr 2023 Entitlement Announcement

5:44PM  AMFIRST   Income Distribution