Malaysia 02 - Market News (Mar 24 - Feb 25)

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Market News on 26 MARCH 2024

Dow closes more than 150 points lower as stocks take a break from their rally (CNBC)

Fed officials still betting on inflation slowdown but caution rising (Reuters)

Russia orders companies to cut oil output to meet OPEC+ target (Reuters)

Govt reiterates commitment to ensuring ringgit continues to strengthen (The Star)

Foreign selling of Malaysian equities slowed 24% to RM313.8m last week, says MIDF (The Edge)

Malaysia's Feb inflation comes in at 1.8% (The Star)

TCS bags RM140.27 mil buildings works projects in Selangor (The Edge)

DC Healthcare launches DC Body outlet in USJ Taipan (The Star)

Chin Teck Plantations may be up for privatisation, says PublicInvest Research (The Edge)

Reservoir Link to form JV company to undertake solar PV project in Kedah (The Edge)

Monday, 25 Mar 2024 Entitlement Announcement

5:24PM BNASTRA Rights Issue
5:20PM MALAKOF Final Dividend
5:08PM GASMSIA Final Dividend
5:07PM DUFU Final Dividend

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Market News on 29 MARCH 2024

S&P 500 closes higher to secure strongest Q1 since 2019 (Reuters)

US economy continues to shine with help from consumers, labor market (Reuters)

Yellen warns China’s surplus of solar panels, EVs could be dumped on global markets (CNBC)

China's March factory activity likely contracted for sixth month, at slower pace (Reuters)

Palm Oil Price Rebound In 1Q24 Unlikely To Sustain: Fitch (Business Today)

Heineken and Carlsberg set to raise beer prices effective April 1 — report (The Edge)

Berjaya Land eyes more international tourists to Redang Island, banking on new charter service (The Star)

Sports Toto ups stake in Berjaya Food for RM13.21 mil (The Edge)

SCIB Shareholders Give Nod For Debt Restructuring And Establishment Of Long-Term Incentive Plan (LTIP) (Business Today)

KNM signs agreement to sell Italian unit for 16.5 mil euros, of which 11.5 mil to be settled in annual instalments over 10 years (The Edge)

Computer Forms shareholders reject re-election of executive director at AGM (The Edge)

Theta Edge partners India’s KEC International to bid for TNB grid projects (The Edge)

KJTS bags housekeeping job in Penang (The Edge)

S P Setia to continue cutting debt, preparing for potential REIT (The Edge)

Eduspec bags RM30m 5G hardware testing job from EG Industries unit (The Edge)

Destini plans 10-to-1 share consolidation (The Edge)

Frozen seafood company SBH Marine's IPO oversubscribed by 27.66 times (The Edge)

Topmix begins taking orders for IPO to raise up to RM26 mil (The Edge)

Wednesday, 27 Mar 2024 Entitlement Announcement

5:47PM CRESNDO Interim Dividend
5:47PM CRESNDO Special Dividend
5:29PM GHLSYS Final Dividend
5:27PM PTRB Second Interim Dividend
5:16PM VS Second Interim Dividend
5:07PM HAILY Second Interim Divide

[winston]

Market News on 1 APRIL 2024

S&P 500 closes higher to secure strongest Q1 since 2019 (Reuters)

Powell Says Fed Wants To See ‘More Good Inflation Readings’ Before It Cuts Rates (Business Today)

Yellen to warn China on excess production capacity, wants constructive talks (Reuters)

China's manufacturing activity expanded slightly in March, official PMI shows (Reuters)

Chin Hin makes takeover offer for Signature International (SIGN) at 84 sen/share (Malaysian Reserve)

Tan Chong Inks MOU For GAC CKD Assembly In Malaysia (Business Today)

Jentayu (JSB) Closing In On Sabah Hydropower Plant Project With New Approvals (Business Today)

KWAP, Abrdn continue to increase stakes in CTOS (The Edge)

Capital A teams up with two Singapore-based firms on travel, e-commerce services for Asean-China passengers (The Edge)

Govt offers Gamuda’s 60%-owned SRS Consortium works on first segment of Penang LRT (The Edge)

KWAP emerges as anchor investor for Yinson’s private share placement (The Edge)

LYC Healthcare unit files fresh preliminary offer document for SGX listing (The Edge)

Main Market-bound MKH Oil Palm begins taking orders for RM155.43 mil IPO (The Edge)

Northeast Group files for ACE Market IPO to fund new RM50 mil factory (The Edge)

Friday, 29 Mar 2024 Entitlement Announcement

5:58PM HANDAL Bonus Issue
5:48PM MASTER Interim Dividend
5:15PM CETECH First Interim Dividend
5:11PM MHC Special Dividend
5:11PM MHC Interim Dividend

[winston]

Market News on 3 APRIL 2024

Indexes end lower as Tesla drops, rate cut timing weighed (Reuters)

Tesla shares fall after deliveries drop 8.5% from a year ago (Reuters)

China steel bar producers call for authorities to restrict output amid price slump (Reuters)

OPEC+ unlikely to change output policy at April 3 meeting (Reuters)

U.S. crude oil cracks $85 to hit highest level since October as geopolitical tensions mount (CNBC)

Nestcon to diversify into renewable energy sector (Malaysian Reserve)

GFM Awarded Three Operations & Maintenance services (O&M) Contracts In Pengerang By Petronas (Business Today)

Agmo, MSC Trustgate Tie Up To Enhance Security Features In e-Invoices (Business Today)

Destini subsidiary faces winding-up petition over RM1.2m debt (Malaysian Reserve)

TAS Offshore bags shipbuilding contracts for RM15mn (Malaysian Reserve)

Zen Tech acquires 70% stake in Alpha Fintech for RM10m (Malaysian Reserve)

Sersol seeks to raise RM8.5m via private placement for working capital (The Edge)

Dolphin International aborts planned rights issue (The Edge)

DNeX’s Ping UK secures three more North Sea oilfield licences (The Edge)

Parkson’s HK-listed unit inks 15-year commercial space lease in China (The Edge)

Globaltec’s Australia-listed unit extends talks with PT Laras for coal bed methane supply (The Edge)

Johor Plantations Group gets SC's nod for Main Market listing (The Edge)

[winston]

Market News on 4 APRIL 2024

S&P 500, Nasdaq close slightly higher after soft services sector data, Fed comments (Reuters)

US services sector cooling; input price increase slows considerably (Reuters)

10-year U.S. Treasury yield touches 2024 high after ADP jobs data tops expectations (CNBC)

Private payrolls increased by 184,000 in March, better than expected, ADP says (CNBC)

OPEC+ keeps output policy steady as oil nears $90 a barrel (Reuters)

Global semicon sales jumped 16.3% y-o-y to US$46.2 billion in February, says Semiconductor Industry Association (SIA) (The Edge)

Govt Revamps Iron And Steel Sector With Policy Enhancements, Moratorium Implementation Transfer (Business Today)

UMedic (UMC) Receives SC Nod For Main Market Transfer (Business Today)

UCrest To Assist Digitalise Dental Clinics With AI (Business Today)

MyEG Director Datuk Mohd Jimmy Joins Heitech Padu Board (Business Today)

Kitacon Awarded RM80.9 Million Job By Sime Darby Property For Elmina (Business Today)

MyEG secures two-year renewal for moneylender’s license (Malaysian Reserve)

BHIC to receive RM49.7 mil repayment from write-off of RM384.43 mil debt owed by Lumut Naval Shipyard (The Edge)

Kobay unit secures RM21 mil banking facilities for acquisition, working capital (The Edge)

MN Holdings wins RM17.6m Pasir Gudang power station job (The Edge)

Kawan Renergy inks underwriting agreement for ACE Market IPO in 2Q (The Edge)

Wednesday, 3 Apr 2024 Entitlement Announcement

5:51PM RHBBANK Second Interim Dividend (with Dividend Re-Investment Plan)
5:27PM SSB8 Interim Dividend

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Market News on 5 April 2024

Dow closes 500 points lower, its 4th straight losing session and worst day since March 2023 (CNBC)

US labor market still tight; trade seen subtracting from Q1 growth (Reuters)

Fed has time to mull rate cut in face of 'less encouraging' data, Barkin says (Reuters)

U.S. crude oil breaks $86 as tensions mount between Israel and Iran (CNBC)

Malaysia emerges as a hotspot for semiconductor firms amid U.S.-China chip tensions (CNBC)

Crescendo Disposes JB Land To Microsoft For RM132 Million (Business Today)

Sapura Energy Contracted By Shell To Provide Underwater Services (Business Today)

MN Holdings Handed RM26 Million EPCC Work For LSSPV Plant In Kulim (Business Today)

Axiata's edotco to sell Myanmar tower business for RM713m (The Edge)

Sanitary ware provider Sorento Capital eyes ACE Market listing (The Edge)

3Ren files for ACE Market IPO to raise funds for new engineering centres (The Edge)

Thursday, 4 Apr 2024 Entitlement Announcement

6:16PM GOPENG Final Dividend

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Market News on 8 APRIL 2024

Wall Street indexes rise after strong jobs data (Reuters)

March US payrolls beat expectations; wages increase steadily (Reuters)

U.S. and China to hold talks on ‘balanced growth’ amid overcapacity concerns, Yellen says (CNBC)

China’s Retail Index Continues Expansion In April (Business Today)

Copper hits 14-month high with demand rising (The Star)

Pan Malaysia (PMCORP) Completes Acquisition Of A&W Business Today)

Haily Bags RM59 Million Residential Project From Austin Senibong (Business Today)

Mah Sing Acquires Second Tranche Of Land In Johor For RM103 Million (Business Today)

UEM Edgenta bags hospital support contract in Singapore worth up to RM963m (Malaysian Reserve)

Asia Media Group to be traded as MMM Group from April 9 (The Star)

Fast Energy pays RM14m for 28.15% stake in Vsolar via rights issue (The Edge)

TDM says no listing plan for its healthcare arm (The Edge)

KWAP now a substantial shareholder as it raises stake in Farm Fresh to 5.07% (The Edge)

Chin Hin ups stake in Chin Hin Group Property to 57.13% amid share price rally (The Edge)

Velesto expects to weather Aramco’s broader suspension of jack-up rigs, says spokesperson (The Edge)

Main Market-bound Keyfield International’s IPO oversubscribed by 9.69 times (The Edge)

Farm Price inks underwriting deal with Alliance Islamic ahead of ACE Market listing (The Edge)

Friday, 5 Apr 2024 Entitlement Announcement

6:10PM KSENG Special Dividend
6:10PM KSENG Final Dividend
5:08PM SENHENG Interim Dividend

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Bursa Malaysia will be closed on April 10 and 11 in conjunction with Hari Raya Aidilfitri 2024

Market News on 9 APRIL 2024

Wall St ends flat as investors await CPI, earnings (Reuters)

Yellen says she won’t rule out possible tariffs on China’s green exports (CNBC)

Yellen says U.S. plans to ‘underscore’ need for China to shift policy (CNBC)

Hong Kong looking at more steps to boost stock market, says Lee (Reuters)

Bank Negara: Coordinated efforts have strengthened the ringgit, no plans for capital controls (The Star)

Inta Bina Receives RM348.9 Million LOA For Proposed Maya Integrated Development (Business Today)

EVD Awarded RM59.6 Million Smart Building And Security Services Project By Sunway (Business Today)

SCIB Awarded RM162 Million Revised Contract By PR1MA (Business Today)

Sunzen Biotech To Shutdown Its Loss Making Animal Health Division (Business Today)

Leong Kim Fong adds Eden Inc to holdings shortly after investing into TWL (The Edge)

EG Industries CEO emerges as substantial shareholder in Eduspec (The Edge)

Awantec appeals RM232m award over termination of RM3.5b SKIN project (The Edge)

Meridian falls under PN17 as auditor refrains from expressing opinion on financial statements (The Edge)

YNH Property in 'technical default' for Islamic MTN programme; MARC cuts rating further (The Edge)

Pan Malaysia Holdings (PMCOP) shareholders advised to reject takeover offer (The Edge)

Nextgreen partners IOI Corp for RM600m paper pulp project, expects RM300m revenue by 2026 (The Edge)

Genting Malaysia pledges US$1b in taxes to win New York City casino licence (The Edge)

ACE Market-listed NationGate seeks transfer to Main Market (The Edge)

Topmix IPO Shares Oversubscribed By 58.6 Times Valuing It At RM363 Million (Business Today)

SBH Marine surges 16% in ACE Market trading debut after RM50.6m IPO (The Edge)

Sabah-based KTI Landmark gets Bursa’s approval for ACE Market IPO (The Edge)

Monday, 8 Apr 2024 Entitlement Announcement

6:34PM AEONCR Final Dividend
5:48PM YXPM First and Final Dividend

[winston]

Market News on 12 APRIL 2024

S&P 500, Nasdaq end sharply higher on soft inflation data, eyes on earnings (Reuters)

Hot inflation may put Fed rate cut in thick of election season (Reuters)

US quarterly earnings to feature big growth in tech-related companies (Reuters)

Fed can start cutting interest rates by end of 2024, IMF managing director says (CNBC)

China's weak CPI, factory-gate deflation point to more stimulus (Reuters)

Goldman Sachs lifts China 2024 growth forecast to 5.0% (Reuters)

Cocoa price surge may increase borrowing and leverage for Guan Chong, JB Cocoa — MARC (The Edge)

Sarawak Cable sued by two creditor banks claiming RM95.5m (The Edge)

Capital A, AirAsia X extend negotiation period for airline biz merger again (The Edge)

Tycoon Tan Sri Vincent Tan is considering taking Kuala Lumpur-listed Berjaya Food Bhd private (The Star)

EA Technique ready to exit PN17 status (The Edge)

New substantial shareholder emerges in PN17 Bertam Alliance (The Star)

Solarvest plans RM56.7 mil private placement to fund solar projects (The Edge)

GFM Services gets nod for Main Market listing transfer (The Star)

BHIC to get RM50m from Lunas’ debt write-off (The Malaysian Reserve)

Low Swee Foong ceases to be substantial shareholder of TWL Holdings after selling 2.8% stake (The Edge)

Elridge Energy files for ACE Market IPO to raise funds for new factory (The Edge)

Tuesday, 9 Apr 2024 Entitlement Announcement

5:21PM LEONFB Final Dividend

[winston]

Market News on 15 APRIl 2024

Wall St ends sharply lower on mixed earnings, sticky inflation, geopolitical fears (Reuters)

Less than half of U.S. banks ready to borrow from Fed in emergency (Reuters)

China central bank set to leave policy rate unchanged, drain some liquidity (Reuters)

China's March exports and imports shrink, miss forecasts by big margins (Reuters)

China March iron ore imports edge up, steel exports near 8-year high (Reuters)

U.S. oil prices approach $86 as market waits for Israel response to Iran’s drone and missile attack (CNBC)

Global spotlight on Malaysia as it emerges as semiconductor powerhouse (The Edge)

SC, Bursa Malaysia step up monitoring to ensure stability in market amid Middle East developments (The Star)

BHIC to get RM50m from Lunas’ debt write-off (Malaysian Reserve)

Sern Kou Accepts Final Fire Insurance Settlement Offer From Lonpac (Business Today)

DRB-Hicom, Perak State Will Not Extend MOU (Business Today)

Genting frontrunner in clinching New York City casino licence (The Star)

Amanah Saham Bumiputera (ASB) trims 2.18% stake in S P Setia for RM141 mil (The Edge)

Nextgreen-IOI Corp JV to rope in Xiamen C&D for paper pulp plant in Pahang (The Edge)

Bahvest’s gold mining ops in Sabah get approval from federal govt's mining regulator (The Edge)