Malaysia - Market News

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Market News on 5 MARCH 2024

S&P 500 edges lower as investors hold their breath ahead of economic data (Reuters)

Fed's Bostic: No urgency to cut interest rates given US economy's strength (Reuters)

Bitcoin tops $67,000 as it nears 2021 all-time high (CNBC)

Gold rises above $2,100 to highest level ever as traders bet on rate cuts (CNBC)

Global semicon sales rose 15.2% y-o-y in January to US$47.6 billion, says US-based Semiconductor Industry Association (SIA) (The Edge)

Evaluation of KL-Singapore HSR concept proposals to take two months, Parliament told (The Edge)

Icon Offshore awarded contract for OSV services (Malaysian Reserve)

Deleum bolsters regional footprint with planned acquisition in Indonesia (Malaysian Reserve)

Iskandar Waterfront (IWCITY) unveils RM4b 10-year plan for JB developments (Malaysian Reserve)

SMRT makes inroads into Philippines via managed ATM infrastructure deal (The Sun)

Berjaya Corp set to expand into Japan’s ¥3.4 trillion tourism market (The Sun)

Nylex gets another six-month extension till end-July to submit regularisation plan (The Edge)

Ge-Shen buys 40% in Local Assembly after LTKM scraps RTO with the EMS firm (The Edge)

JAG's offer for KUB Malaysia turns unconditional (The Edge)

Handal Energy gets time extension to hold 2024 AGM by Dec 31 (The Edge)
    
Monday, 4 Mar 2024 Entitlement Announcement
 
5:22PM  PWROOT   Interim Dividend

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Market News on 6 MARCH 2024

Dow closes lower by 400 points, Apple shares drag tech down (CNBC)

US services sector slows in February; inflation moderating (Reuters)

US factory orders fall more than expected in January (Reuters)

China sets GDP 2024 target of ‘around 5%,’ plans to issue ‘ultra-long’ special bonds for major projects (CNBC)

Nextgreen Global (NGGB) plans RM121m private placement for Green Technology Park development (Malaysian Reserve)

Fajarbaru Builder’s bags RM121m contract for Johore Golf & Country Club project (Malaysian Reserve)

Tanco to list unit developing RM2bil AI port in PD (The Star)

Crest Builder secures RM449mil development job (The Star)

Shenzhen Shenyue Investment, IWH and PLS sign MoU to build industrial park and innovation hub in Johor (The Star)

Solarvest to install solar power systems in 300 PETRONAS stations (The Star)

ANZ puts up 9% AMMB stake for sale in accelerated book building (The Edge)

UBS trims stake in YTL Corp to 5.86% (The Edge)

TRC Synergy books RM27m surplus, RM2.37m fair value gain after revaluation of land and buildings (The Edge)

Yong Tai partners Singapore-based Ebenex Group to promote Encore Melaka, with first event to take place in April (The Edge)
   
Tuesday, 5 Mar 2024 Entitlement Announcement

5:48PM  CNERGEN   Interim Dividend 
5:07PM  HUPSENG   Third Interim Dividend 
5:07PM  HUPSENG   Special Dividend 
12:38PM  SUNWAY   Second Interim Dividend (with Dividend Re-Investment Plan)

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Market News on 7 MARCH 2024

S&P 500, Nasdaq close higher Wednesday, regaining some ground from recent sell-off (CNBC)

US House approves spending bill to avert government shutdown (Reuters)

Fed's Powell still expects rate cuts but inflation progress "not assured" (Reuters)

US manufacturers struggle to grow again without interest rate cuts (Reuters)

China’s central bank governor says there’s room to cut banks’ reserve requirements (CNBC)

Bank Negara, govt act to support ringgit (The Star)

MMAG consortium’s transshipment hub targets booming seafood demand in Asia (Malaysian Reserve)

Globetronics inks RM36m technology provision agreement with Kaynes Semicon (Malaysian Reserve)

Jati Tinggi nets RM22m contract for data centre underground cabling project (Malaysian Reserve)

Awantec bags RM5m contract from National Water Research Institute of Malaysia (Malaysian Reserve)

Econpile bags RM66m Cameron Highlands road upgrade project from Ahmad Zaki Resources (Malaysian Reserve)

Ho Wah Genting enters organic skincare market with RM2.4m acquisition (Malaysian Reserve)

KAB acquires 9.6MW hydropower plant in Kedah (Malaysian Reserve)

Prolintas seeks to raise RM445.3mil from listing of highway business trust (The Star)

Niche Capital gets DOE approval for development of gold mining processing plant in Kelantan (The Star)

Classic Scenic changes name to Hextar Retail (HEXRTL) (The Star)

MARC downgrades Top Glove's credit rating and RM3b sukuk, but revises outlook to stable (The Edge)

Johari Ghani’s son Amir Nashrin appointed director of CI Holdings, KUB (The Edge)

Lim Seong Hai Capital proposes RM168 mil share sale for listing transfer (The Edge)

Perdana Petroleum secures extension for four vessel charters, one new contract (The Edge)

Wednesday, 6 Mar 2024 Entitlement Announcement

6:04PM  KAWAN   Interim Dividend 
5:35PM  PLABS   Interim Dividend 
5:08PM  AIRPORT   Final Dividend

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Market News on 8 MARCH 2024

S&P 500 closes at record as Nvidia leads bullish run in tech (Investing.com)

Fed's Powell: "Not far" from confidence needed to cut rates (Reuters)

Weekly jobless claims unchanged; trade deficit widens in January (Reuters)

China's Jan-Feb exports rise 7.1%, imports grow 3.5%, beating forecasts (Reuters)

Bank Negara keeps overnight policy rate unchanged at 3% (The Edge)

DNeX plans collaboration with South Korea's paperless trade infra operator (The Edge)

LC Titan says parent LC Corp mulling 'strategic measures' amid stake sale talks (The Edge)

Sapura Energy secure court orders for RM10.8b debt restructuring (Malaysian Reserve)

ANZ now holds 5.17% in AMBANK after completion of share sale (The Edge)

Star Media's dispute with JAKS Resources goes back to High Court six years after it started (The Edge)

Khoo Kay Peng to cede control of Pan Malaysia Holdings to Exsim Group's Lim brothers in RM36.7m deal (The Edge)

Teo Seng to distribute one treasury share for every 67 shares after record earnings (The Edge)

PLS inks deal with China’s Guangzhou Jiangnan to build a one-stop wholesale market in Johor (The Edge)  

Thursday, 7 Mar 2024 Entitlement Announcement

6:47PM  AXIATA   Second Interim Dividend 
6:08PM  UNITRAD   First Interim Dividend 
12:41PM  TEOSENG   Dividend in specie

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Market News on 12 MARCH 2024

S&P 500, Nasdaq end down as investors wait for CPI, PPI data (Reuters)

Long-term inflation expectations rise, spelling possible trouble for the Fed, survey shows (Reuters)

JPMorgan's Dimon urges US Fed to wait past June before cutting rates (Reuters)

Oil prices mixed ahead of key February inflation data and crude outlook reports (Reuters)

Local institutions’ net buying on Bursa more than tripled to RM1.4b last week (The Sun)

Khazanah has no plan to sell stake in MAHB (AIRPORT)- Anthony Loke (The Star)

AmBank Group grants RM300 mil facilities to Uzma subsidiary (The Edge)

MyEG acquires 14.4% stake in HeiTech Padu (HTPADU) for RM31.25mil (The Star)

HeiTech Padu (HTPADU) gets one-year extension for provision of immigration system maintenance services (The Edge)

Uncertainties persist amid optimism over *Genting's* Alzheimer's drug trial result (The Edge)

CTOS not legally empowered to formulate credit scores, High Court rules; CTOS to appeal (The Edge)

Flexidynamic (FLEXI) receives RM12.4m contract for water treatment plant in Kelantan (The Edge)

Microlink Issued UMA Query After Share Price Drops (Business Today)

99 Speed Mart files for IPO, seeking minimum public shareholding spread of 15% (The Edge)

Monday, 11 Mar 2024 Entitlement Announcement

5:55PM AXJ-REITSETF Income Distribution
5:55PM IDEAL Second Interim Dividend
5:21PM FBBHD Interim Dividend
5:10PM SPSETIA-PA Others
5:10PM SPSETIA-PC Others
5:09PM SPSETIA Final Dividend
12:47PM TENAGA Final Dividend

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Market News on 13 MARCH 2024

Dow jumps more than 200 points, S&P 500 pops 1% for new closing high as Nvidia resurges (CNBC)

US Consumer prices rose 0.4% in February and 3.2% from a year ago (CNBC)

Manufacturing sales value rebounds with 3.2% growth in January (The Star)

TNB-Siemens Energy cooperation a catalyst for exploring green hydrogen usage technology, says Zafrul (The Edge)

Eversendai unit in talks with IRB to withdraw winding-up petition following RM1.97m settlement (The Edge)

After failed digital bank licence bid, PUC refocuses on reviving online shopping business (The Edge)

CTOS says it's business as usual, not court-barred from providing credit score services (The Edge)

Sunview collaborates with MPMA to collaborate in the realm of renewable energy (The Star)

SCIB ends RM98m student residences contract for project timing concerns (The Malaysian Reserve)

Microlink says not aware of reason for share price plunge (The Edge)

Sapura Energy gets standstill period for financiers extended till June 10 (The Edge)

Public portion of Alpha IVF's IPO oversubscribed by 1.73 times (The Edge)

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Market News on 18 MARCH 2024

Wall St drops with tech-related shares, investors assess rate outlook (Reuters)

US consumer sentiment, inflation expectations stable in March (Reuters)

China c.bank leaves key policy rate unchanged, as expected (Reuters)

Malaysia central bank says Google misquoted exchange rate a second time (Reuters)

Malaysia keeps April crude palm oil export duty at 8% (The Edge)

AirAsia X inks MoU with Kazakhstan Tourism on strategic collaboration (Malaysian Reserve)

Binastra bags RM370m contract for Bukit Jalil construction project (Malaysian Reserve)

Citaglobal enters joint venture for Sabah commercial development (Malaysian Reserve)

Fajarbaru lands RM11m early works contract for RMAF Base redevelopment (Malaysian Reserve)

RHB Bank subscribes additional 3.4 million shares in Boost Bank (The Star)

MAHB's passenger traffic up 33% y-o-y to 11 million in February (The Edge)

Microlink plans RM89 mil rights issue to finance debt repayment, working capital (The Edge)

Pertama Digital chairman Ahmad Nazri Abdullah ceases to be substantial shareholder (The Edge)

IT firm Vetece eyes ACE Market listing to raise funds for expansion (The Edge)

Friday, 15 Mar 2024 Entitlement Announcement

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Market News on 19 MARCH 2024

Wall St. ends higher on AI enthusiasm; Fed in focus (Reuters)

Inflation frustration may prompt Fed to dial back rate-cut outlook (Reuters)

China's upbeat industrial output, retail sales tempered by frail property (Reuters)

New Hoong Fatt (NHF) plans share split to boost trading liquidity (Malaysian Reserve)

Ge-Shen gets UMA query as share hits record, announces more acquisitions (The Edge)

TT Vision (TTVHB) forms JV to set up solar energy-related automation equipment manufacturing base in Malaysia (The Edge)

SMI says one of its substantial shareholders against proposals to appoint new directors, filed complaint to SC (The Edge)

Globaltec gets more time to undertake South Sumatera gas exploration (The Edge)

GFM Services proposes one-for-two bonus issue of warrants (The Edge)

After MGO, Johari Ghani’s JAG now controls 62.72% stake in KUB (The Edge)

Epicon secures RM191 mil mixed-use development contract in Perak (The Edge)

Eversendai says unable to give value breakdown on RM5.4b projects due to non-disclosure agreements (NDAs) (The Edge)

ITMAX’s subsidiary gets 15-year contract worth RM77m from Kulai Municipal Council (The Edge)

Kelington (KGB) marks foray into Germany and Hong Kong to ride semiconductor wave (The Edge)

SBH Marine aims to raise RM39.6mil in proceeds from IPO for business expansion (The Star)

Public portion of Zantat’s IPO oversubscribed by 130.15 times (The Edge)

Monday, 18 Mar 2024 Entitlement Announcement

6:09PM MAGNI Third Interim Dividend
5:31PM APOLLO Second Interim Dividend
5:17PM MHCARE First Interim Dividend
5:09PM MFCB Final Dividend

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Market News on 20 MARCH 2024

Wall Street advances with Nvidia and Fed meeting in focus (Reuters)

Nvidia stock climbs as CFO says new chip to ship in 2024 (Reuters)

China tightens regulations on consumer finance companies (CNBC)

Oil rises to multi-month highs on Russian supply concerns (Reuters)

Farhash: Shareholding in HeiTech Padu is co-owned with Sultan of Kelantan; denies any ties with Govt (The Edge)

KJTS Group lands RM6.6m for Menara Takaful Malaysia contract (Malaysian Reserve)

Uzma bags contract extension to provide hydraulic worker unit at offshore Thailand (The Edge)

Urusharta Jamaah ceases to be a substantial shareholder in IJM Corp (The Edge)

KPMG flags material uncertainty for E.A. Technique (Malaysian Reserve)

EITA Resources bags RM48m substation contract from TNB (Malaysian Reserve)

Asdion to acquire 51% stake in Indonesian logistics service provider for RM6m (Malaysian Reserve)

Sarawak Cable seeks more time over PN17 regularisation plan (The Edge)

SMI says no to Au Yee Boon-linked units’ bid to appoint directors at AGM (The Edge)

Tuesday, 19 Mar 2024 Entitlement Announcement

5:29PM RGTECH First Interim Dividend
5:08PM MLAB Share Consolidation

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Market News on 22 MARCH 2024

Wall Street hits record closing highs on rate-cut optimism; chip sector rallies (Reuters)

US economy on solid ground as weekly jobless claims fall, home sales surge (Reuters)

Fed's Powell says balance sheet drawdown taper coming soon (Reuters)

China c.bank says it has room to cut bank reserve ratio further (Reuters)

SunCon secures RM748 mil job to build data centre in Selangor (The Edge)

Mah Sing moves a step closer towards developing township with RM3.3bil GDV (The Star)

PTT Synergy bags RM299m contract to build roads, bridge in Kelantan (The Edge)

Epicon bags RM89.1mil building job in Perak (The Star)

Astro maintains cautious outlook, focuses on cost discipline (The Star)

MGB bags RM207.03 mil property development project in Sepang (The Edge)

T7 Global plans to raise up to RM42 mil via private placement for working capital (The Edge)

Binasat unit clinches RM58.26 mil cable systems contract from TNB (The Edge)

SMI postpones director appointment notice amid legal challenge (The Malaysian Reserve)

Master Tec (MTEC) says unaware of reason for share price surge (The Edge)

Thursday, 21 Mar 2024 Entitlement Announcement

5:30PM JAYCORP First Interim Dividend
5:21PM CARLSBG Final Dividend