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

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Market News on 16 APRIL 2024

S&P 500 and Nasdaq close 1% lower as yields jump, traders await Israel response to Iran (CNBC)

Strong US retail sales boost first-quarter growth estimates (Reuters)

China's Q1 GDP growth likely to slow, more stimulus on the cards (Reuters)

Aluminium, nickel jump on US and UK sanctions on Russian metals (The Star)

Kitacon Awarded RM134.8 Million Contract By Tropicana For Ijok Project (Business Today)

SCIB, AWANA Resolve Dispute Sign New Project Contract (Business Today)

Iris Corp’s Subsidiary Sale Deal Terminated, Forfeits RM7 Million Deposit (Business Today)

RHB Acquires Additional Shares In Boost Bank For RM3.8 Million (Business Today)

Ewein Proposes Name Change To Skygate Solutions (Business Today)

HeiTech Padu Secures RM190 Million Contract From Road Transport Dept (Business Today)

EP Manufacturing (EPMB) teams up with BAIC Motor to assemble vehicles in Malaysia (Malaysian Reserve)

GCAP teams up with HK-listed firm to raise RM325m for hydropower projects (Malaysian Reserve)

Capital A says no share placement plan, just its aviation division exploring a fundraising exercise (The Edge)

YNH Property says independent review of its JV, turnkey agreements needs more time (The Edge)

Solarvest to install solar system covering 273,300 sq ft of mall’s rooftop and car park in PJ (The Edge)

Frozen food distributor Supreme Consolidated eyes ACE Market listing to raise funds for warehouse expansion (The Edge)

Monday, 15 Apr 2024 Entitlement Announcement

5:16PM TWRREIT Rights Issue
5:08PM KHJB Final Dividend
12:37PM DIN045801028 Profit Payment

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Market News on 17 APRIL 2024

S&P 500 closes lower as Powell warns rates need to stay high, Dow snaps 6-day losing streak (CNBC)

2-year Treasury yield briefly tops 5% after Powell cites lack of progress on inflation (CNBC)

Lagarde says ECB will cut rates soon, barring any major surprises; notes ‘extremely attentive’ to oil (CNBC)

IMF sees slow, steady 2024 global growth; China, war escalation pose risks (Reuters)

China's economy grew faster than expected in the March quarter (Reuters)

Anwar: Miti to draw up comprehensive semiconductor strategic plan (The Edge)

GDEX diversifies into IT services to counter express delivery challenges (Malaysian Reserve)

Jentayu (JSB) aims to sign power purchase agreement (PPA) by mid-year (The Star)

Comfort Gloves’ units go to court over RM99 mil additional tax demand (The Edge)

Globetronics (GTRONIC) in final talks with two potential customers for advanced packaging (The Edge)

Loke: Higher contract value awarded to HeiTech Padu due to longer extended duration (The Edge)

MyEG, HeiTech Padu form partnership to collaborate on IT projects (The Edge)

Apex Healthcare commits to boosting R&D investment to 5% of annual manufacturing revenue (The Edge)

Bursa grants Serba Dinamik second extension of time until May 15 to submit regularisation plan (The Edge)

KTI Landmark inks underwriting deal with M&A Securities en route to ACE Market listing (The Edge)

Tuesday, 16 Apr 2024 Entitlement Announcement

5:57PM RHONEMA Final Dividend
5:45PM TOMEI First and Final Dividend
5:45PM KOSSAN Final Dividend
5:33PM DKSH Final Dividend
5:02PM HEIM Final Dividend

[winston]

Market News on 18 APRIL 2024

S&P 500 and Nasdaq close lower for a fourth straight day as Nvidia shares slide (CNBC)

Wall Street pushes out rate-cut expectations, sees risk they don’t start until March 2025 (CNBC)

US economic activity expanded slightly in recent weeks, Fed says (Reuters)

IMF Raises Malaysia’s 2024 GDP Outlook To 4.4% (Business Today)

MGRC, De Cell Berhad Forge Strategic Collaboration To Advance Cell-Gene Therapy (Business Today)

Nationgate Seeks Main Market Transfer (Business Today)

Reservoir Link Secures RM22 Million Contract To Build Solar Farm In Kulim (Business Today)

Menang takes minority stake in Indonesia healthcare JV (Malaysian Reserve)

Chinese national Chen Hui ceases to be substantial shareholder of Excel Force (The Edge)

EPF ceases to be substantial shareholder of Affin Bank (The Edge)

HeiTech Padu seeks to raise RM23 mil via private placement (The Edge)

Wednesday, 17 Apr 2024 Entitlement Announcement

6:43PM WANGZNG First and Final Dividend
6:17PM LBS Final Dividend
6:16PM LBS First Interim Dividend
6:10PM CPETECH First Interim Dividend
6:04PM AMFIRST Income Distribution
5:34PM NOTION Bonus Issue
5:25PM IGBCR Income Distribution
5:22PM ORNA Final Dividend
5:20PM KKB First and Final Dividend
5:19PM IGBREIT Income Distribution
5:06PM ZHULIAN First Interim Dividend

[winston]

Market News on 19 APRIL 2024

Wall St closes lower; gold climbs amid economic, geopolitical crosswinds (Reuters)

Fed policymakers coalesce around 'no rush' on rate cuts (Reuters)

IMF tells Asian central banks not to follow Fed too closely (Reuters)

Johor-Singapore Special Economic Zone (JS-SEZ) Can Spur Johor’s Economy To Outpace Other States Within 2 Years: PM (Business Today)

Consortiums Shortlisted For KL-SG HSR Project Might Be Announced In June (Business Today)

Systech Shareholders Approve The Issuance Of New Shares For Acquisition Plan (Business Today)

Micron Set To Get USD6 Billion In Chip Grants From U.S., Bloomberg Reports (Business Today)

Pansar clinches RM269m Sibu water plant upgrade contract (Malaysian Reserve)

DC Healthcare expands with new clinic and body outlets (Malaysian Reserve)

Sunview Group to provide solar solutions in Felda areas (Malaysian Reserve)

Kimlun bags RM150m construction contract (Malaysian Reserve)

Auro to diversify into F&B sector, targets 25% profits (Malaysian Reserve)

Asteel Group plans JV with Top-Mech in Sarawak (Malaysian Reserve)

Dialog Axiata acquires Airtel Lanka in telecom merger in Sri Lanka (Malaysian Reserve)

Bursa approves UMediC’s transfer to Main Market (The Edge)

Awantec faces trading suspension from April 26 after failing to submit regularisation plan (The Edge)

AWC secures plumbing jobs at Hospital Kapar and Cyberjaya data centre (The Edge)

Amid controversy over govt contracts, Farhash ceases to be HeiTech Padu substantial shareholder after one month (The Edge)

Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil (The Edge)

OB Holdings gets approval for ACE Market IPO, targets listing in 4Q (The Edge)

Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO (The Edge)

Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO (The Edge)

Thursday, 18 Apr 2024 Entitlement Announcement

5:57PM CHINHIN Bonus Issue
5:50PM PESONA Final Dividend
5:39PM SEM Interim Dividend
5:38PM CCK First and Final Dividend
5:37PM INGENIEU Bonus Issue

[winston]

Market News on 22 APR 2024

Nasdaq falls more than 2% to post sixth straight losing day as Nvidia craters 10% (CNBC)

IMF's Gopinath says high U.S. deficits fueling growth, higher interest rates (Reuters)

YX Precious Metals proposes to transfer listing from ACE Market to Main Market (The Edge)

Hextar Capital to diversify into construction and project management services (The Star)

MISC to develop world’s first ammonia dual-fuel ships (The Star)

Uzma plans RM68.4m private placement to fund O&G support job (The Edge)

Fitters Diversified bags RM26.1mil subcontract from IJM Construction (The Star)

MCE Holdings commences construction for RM50 mil manufacturing facility in Serendah (The Edge)

Meta Bright forms JVco with Bumiputera firm for renewable energy (RE) projects (The Edge)

Nova MSC’s subsidiaries sign SGD10m investment term sheets with Jostar (The Malaysian Reserve)

EG Industries expands partnership with US-based Cambridge Industries Group (The Edge)

Trading in Sapura Energy suspended pending announcement (The Edge)

Silver Ridge’s unit slapped with suit over alleged unpaid contract sums (The Edge)

Fajarbaru clinches RM13 mil contract from MAHB (The Edge)

Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market (The Edge)

Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times (The Edge)

[winston]

Market News on 24 APR 2024

Dow closes more than 250 points higher, S&P 500 pops 1% as strong earnings propel stocks (CNBC)

Tesla shares jump 11% after Musk says company aims to start production of affordable new EV by early 2025 (CNBC)

Russia cuts oil price forecast to $65 per barrel in 2024-27 (Reuters)

Globetronics to venture into advanced packaging on back of rising demand (The Edge)

MAHB (AIRPORT) 1Q24 Passenger Traffic Hits 90% Of 1Q19 Peak (Business Today)

IHH to maximise bed capacity at its hospitals (The Star)

Ancom Logistics to acquire environment solutions firm in RM120mil deal (The Star)

Haily bags RM109.5 mil housing jobs in Johor from Gadang’s unit (The Edge)

Comfort Glove Reports Fire At Factory, Impact Under Assessment (Business Today)

Crest Builder bags RM486m condominium project in Mont Kiara (The Edge)

Cypark 100MWAC Hybrid Solar Plant To Begin Operation (Business Today)

Inta Bina bags RM170m serviced apartment job in Country Heights (The Edge)

AHB Holdings terminates acquisition deal for entry into EV sector (The Malaysian Reserve)

HHRG plans to raise up to RM18.14m via placement for working capital (The Edge)

Chin Hin's MGO for Signature International turns unconditional as shareholding surpasses 50% (The Edge)

Tuesday, 23 Apr 2024 Entitlement Announcement

6:49PM DXN Fourth Interim Dividend
5:54PM CMSB First and Final Dividend
5:52PM AEON Final Dividend
5:38PM ENGTEX Final Dividend
5:34PM AXREIT Income Distribution
5:22PM BPURI Share Consolidation
5:22PM BPURI-WB Adjustment
5:20PM KIPREIT Income Distribution
5:10PM VITROX Final Dividend

[winston]

Market News on 25 APR 2024

S&P 500 ends higher as markets weigh rising yields, upbeat corporate results (Reuters)

Meta plunges 16% on weak revenue guidance even as first-quarter results top estimates (CNBC)

China may have to brace for a new wave of bond defaults, S&P says (CNBC)

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT (The Edge)

MyEG, Zetrix To Launch Virtual ETFs In Hong Kong With MaiCapital (Business Today)

Hibiscus Petroleum completes drilling at Bunga Aster-1 well, first oil production set for next month (The Edge)

Sapura Industrial (SAPIND) inks MOU with Mili Tech for feasibility studies on EVs (The Edge)

Jiankun partners Micro Energy to equip homes in Penang's Taman Panchor Jaya with solar PV systems (The Edge)

YNH aborts sale of Segambut land, appoints Chin Hin Group Property (CHGP) to develop it instead (The Edge)

Chin Hin Group to develop two lands with combined GDV of RM1.08bil (The Star)

OCR Group inks JV agreement for residential development in Rawang (The Edge)

Meta Bright bags equipment leasing contract from Australian copper mining firm (The Edge)

Tony Fernandes signs 5-year extension as Capital A CEO (The Malaysian Reserve)

I-Bhd announces RM100mil investment pledge from major shareholder (The Star)

Muhammad Ikmal continues to trim stake in loss-making Widad, Dataprep (The Edge)

GFM Services to transfer to Main Market on April 26 (The Star)

ACE Market-bound Farm Price aims to raise RM24.5mil from IPO (The Star)

Wednesday, 24 Apr 2024 Entitlement Announcement

5:37PM SASBADI Interim Dividend
5:36PM AMEREIT Income Distribution
5:36PM IFCAMSC Final Dividend

[winston]

Market News on 26 APR 2024

Dow closes lower by more than 370 points as inflation, growth worries resurface (CNBC)

U.S. GDP increased at a 1.6% rate in the first quarter, less than expected (CNBC)

Yellen says US economy strong, all options open on China's overcapacity (Reuters)

Middle East escalation could trigger oil price shock that fuels inflation, World Bank warns (CNBC)

Microsoft cloud growth accelerates on back of AI push (Reuters)

False Claim: There’s No Forest City Casino License In Any Form, Says PM (Business Today)

EPF Account 3 Could See RM25 Billion Withdrawn, Chief Says Wont Impact Fund Portfolio (Business Today)

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal (The Edge)

Pantech mulls listing two subsidiaries on Main Market via SPV (The Edge)

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya (The Edge)

Solarvest delivers 8.9MWP solar project to NTPM (The Star)

UMediC transfers to Main Market (The Star)

Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking (The Edge)

Agricore gets Bursa nod to list on ACE Market (The Star)

Thursday, 25 Apr 2024 Entitlement Announcement

6:41PM AFFIN Final Dividend (with Dividend Re-Investment Plan)
6:10PM LHI Interim Dividend
5:47PM ALCOM First and Final Dividend
5:37PM KIMLUN Final Dividend
5:28PM CVIEW First Interim Dividend
5:21PM OCB First and Final Dividend
5:20PM TONGHER Final Dividend
5:20PM TAS Interim Dividend
5:11PM PETRONM Final Dividend
5:10PM TECHNAX Share Consolidation
5:10PM STAR First and Final Dividend
12:45PM IBRACO Final Dividend

[winston]

Bursa will be closed on Wednesday, 1 May 2024, in conjunction with the Labour Day

Market News on 30 APRIL 2024

S&P 500 rides Tesla, Apple higher; Fed meeting eyed (Investing.com)

Fed in holding pattern as inflation delays approach to soft landing (Reuters)

US Treasury to borrow $243 billion in Q2, higher than January forecast (Reuters)

China to extend tariff exemptions for imports of some US products until Nov 30 (Reuters)

Foreign Investors Turned Net Buyers On Bursa Malaysia, Totalling RM292.2m Last Week (Business Today)

Capital A's aviation segment records 90% load factor, 15.4 mln passenger volume in 1Q (The Star)

YNH Inks Deal For Kepong Land Development With Potential GDV Of RM685 Million (Business Today)

GIIB’s Shareholder Double Their Stake In The Company (Business Today)

Oppstar, Samsung To Collaborate In IC Production (Business Today)

YTL REIT To Develop Hotel In Hokkaido For RM199 Million (Business Today)

Tex Cycle JV to invest RM100 Million in Sabah’s First Integrated Waste Management Facility (Business Today)

IHH Healthcare Launches Solar System At Public Hospital (Business Today)

ITMAX and JLand Group partner to develop smart cities (The Star)

S&P: Genting's operations have recovered from impact of pandemic, earnings to further grow (The Edge)

HHRG faces RM58 mil suit over alleged default of loan by ex-chairman (The Edge)

ViTrox to continue to ramp up R&D investment on anticipated semiconductor recovery in 2H2024 (The Edge)

Malakoff inks deal to expand operation and maintenance services to Bangladesh (The Edge)

Sapura Energy bags underwater service contract from Thai-owned PTTEP group (The Edge)

Metronic Global ED Doris Wong emerges as substantial shareholder of BSL (The Edge)

Kawan Renergy sets IPO price at 30 sen apiece in bid to raise RM33m (The Edge)

Monday, 29 Apr 2024 Entitlement Announcement

7:14PM BDB First and Final Dividend
6:54PM AGX Final Dividend
6:43PM ORIENT Final Dividend
6:35PM SPRITZER First and Final Dividend
6:29PM CHOOBEE Final Dividend
6:25PM SCGBHD Final Dividend
6:13PM KJTS First and Final Dividend
6:11PM NHFATT Final Dividend
6:06PM PASDEC First and Final Dividend
5:58PM HSSEB Final Dividend
5:54PM HEGROUP Final Dividend
5:53PM TASHIN Final Dividend
5:53PM MBMR Final Dividend
5:52PM HEVEA First and Final Dividend
5:48PM HARISON Final Dividend
5:41PM SPRING Final Dividend
5:40PM PBA Final Dividend
5:36PM ASB First and Final Dividend
5:36PM UPA Final Dividend
5:28PM LYSAGHT Final Dividend
5:28PM CANONE First and Final Dividend
5:27PM MARCO Final Dividend
5:20PM MUDA Final Dividend
5:20PM MGB Final Dividend
5:16PM MSC Final Dividend
5:11PM SCOMNET Final Dividend
12:33PM CSCSTEL Final Dividend

[winston]

Market News on 2 MAY 2024

US stocks mixed after Fed flags uncertain rate path (Reuters)

Fed keeps rates on hold as disinflation stalls, but downplays prospect of hikes (Reuters)

Fed's Powell says looming US election will not sway rate decisions (Reuters)

U.S. private payrolls increased by 192,000 in April, more than expected for resilient labor market (CNBC)

China's factory, services activity growth slows in April (Reuters)

Putrajaya Will Raise Civil Servants Salary By 13% From This Year (Business Today)

Transocean Traded As Arka on Bursa From May 2 (Business Today)

Rohas Disposes Subsidiary’s Unit For RM12.8 Million To Ann Joo (Business Today)

Duopharma Accepts Supply Deal From Pharmaniaga Worth RM578 Million (Business Today)

Magna Prima faces going concern uncertainty (Malaysian Reserve)

Chin Hin’s Chiau family buys 18.31% in Ge-Shen for RM30.36 mil (The Edge)

Green Packet undertakes 30% private placement to raise RM19.15 mil at 3.2 sen a share (The Edge)

Apex Equity's auditor unconvinced group can recover RM24m loan (The Edge)

Lebtech's auditor flags going concern uncertainty due to reliance on related parties for business (The Edge)

Auditor raises doubt about Mentiga's going concern ability as liabilities exceed assets (The Edge)

Clement Hii buys out PE fund Navis Capital in SEGi for RM113 mil, triggers mandatory offer (The Edge)

GUH secures RM69.49 mil subcontract job from Gamuda (The Edge)

Animation production house Kucingko gets nod from Bursa for ACE Market IPO (The Edge)

Tuesday, 30 Apr 2024 Entitlement Announcement

6:57PM MITRA First and Final Dividend
6:46PM TASCO Final Dividend
6:26PM SURIA Final Dividend
5:56PM AHB Bonus Issue
5:51PM F&N Interim Dividend
5:33PM ATRIUM Income Distribution
5:32PM SOP Final Dividend
12:37PM TRC First and Final Dividend
12:37PM UNIMECH Final Dividend