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

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Market News on 7 JUN 2024

S&P 500 ends just lower as May jobs report looms (Investing.com)

Lagarde Urges Caution Over Speed, Time of ECB Rate Cuts (Bloomberg)

RAM Ratings: Malaysian banks' profitability steady in 1Q24, limited upside ahead (The Star)

IRB To Guarantee E-Invoice Implementation By July 1, 2025 (Business Today)

Malaysia can achieve double-digit growth in rubber gloves export in 2024 (The Star)

Proton sales bounce back 13.6% to 12,422 units in May (The Star)

Nextgreen inks MOU with SPOIC to establish Green Technology Park Sandakan (The Edge)

Kinergy Advancement (KAB) acquires Indonesian firm for RM8.89 mil to build biogas plant in Aceh (The Edge)

Jati Tinggi (JTGROUP) JV company bags RM26mil contract from TNB (The Edge)

Italian govt rejects KNM’s proposed disposal of entire stake in FBM Hudson for the second time (The Edge)

Tanco unit inks MOU with China's CCCC Dredging on AI container port in Port Dickson (The Edge)

HSS Engineers to focus on overseas expansion (The Star)

Nestcon bags RM37.7 mil construction job in Selangor (The Edge)

Duopharma eyes M&A prospects in Philippines, Indonesia (The Star)

Sapura Energy gets nine more months till March 2025 to restructure debts (The Edge)

Steel Hawk (SKHWAWK LEAP MARKET) gets Bursa nod for proposed transfer to ACE Market (The Edge)

TA Securities values ACE Market-bound Agricore at 60 sen (The Edge)

FBM70 Index effective 24 Jun

Inclusion: ACSM, AMMB, IGB Reit, IJM, IOI Prop, MFCB, PReit, SDPR, Suncon

Exclusion: AEON, Astro, BCorp, DNEX, Hibi, Sunway, Ta Ann, TSH, Uchi

Thursday, 6 Jun 2024 Entitlement Announcement

5:49PM NHFATT Subdivision

[winston]

Market News on 10 JUN 2024

Wall Street stocks close slightly lower; jobs data strong but rates still high (Reuters)

Inflation, Fed meeting to give clues for U.S. market direction (Reuters)

Gold slides 3% on double blow of strong jobs report, China data (ReuterS)

China’s Solar Firms Suspend Southeast Asia Production After US Tariff Holiday Expires (Business Today)

Malaysia begins diesel subsidy reforms, prices to rise by about 50% on Monday (Reuters)

Diesel Price At RM3.35 Per Litre From Monday (Business Today)

ByteDance Plans To Invest RM10 Billion And Make Malaysia Into An AI Hub (Business Today)

Sunview Bags Kedah Solar Farm Contract From Cenergi Worth RM51.9 Million (Business Today)

DS Sigma Eyeing Main Market Transfer (Business Today)

Perak Corp Seeks To Jointly Develop Land In Kinta As Way To Raise Cashflow (Business Today)

Binastra Accepts LOA For RM315 Million Residential Project In KL (Business Today)

Suncon On Verge Of Substantial Contract Wins Driven Expansions And Upsizing (Business Today)

Engtex proposes three-for-four bonus issue (The Edge)

MGRC partners South Korean firm to provide genome screening service (The Edge)

KTI Landmark IPO Oversubscribed By 8.14 Times (Business Today)

Go Hub signs underwriting agreement with UOB Kay Hian for ACE Market IPO (The Edge)

Friday, 7 Jun 2024 Entitlement Announcement

6:14PM JAG Bonus Issue
6:13PM JAG Bonus Issue
5:54PM PENTA Final Dividend
5:52PM LEESK Bonus Issue
5:30PM BTECH Final Dividend
5:12PM MBSB Final Dividend
5:11PM EKSONS Interim Dividend

[winston]

Market News on 11 JUN 2024

S&P 500, Nasdaq notch record highs ahead of Fed meeting (Investing.com)

Oil prices up 3% to one-week high on hopes of higher summer fuel demand (Reuters)

IPI Accelerates 6.1% In April 2024, Underpinned By Manufacturing Sector Higher Output Growth (Business Today)

PUC To Acquire Alevate Capital And Alevate Solutions For RM200 Million (Business Today)

SunCon’s Revised NTP Work Changed To RM3.2 Billion (Business Today)

Cypark’s 100MW Merchang Solar Plant Reaches Commercial Operation Date (“COD”) (Business Today)

ManagePay To Develop SuperApp For KTMB (Business Today)

Ageson Secures RM75 Million Contract For Building Construction (Business Today)

Deleum Subsidiary Awarded RM105 Million Contract By Petronas Carigali (Business Today)

Eco World sells industrial land to Microsoft Payments for RM402m (Malaysian Reserve)

KPJ undertakes RM18mil renovation jobs (The Star)

Jade Marvel to trade as Xin Synergy from June 12 (The Edge)

Yong Tai partners with China's STIG to revive Encore Melaka theatre (The Edge)

IT Firm VETECE Seeks ACE Market Listing In Q3 (Business Today)

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Market News on 12 JUN 2024

S&P 500, Nasdaq clinch fresh records on Apple rally; Fed eyed (Investing.com)

Apple hits record as AI features promise boost in iPhone sales (Reuters)

US weighs more limits on China's access to AI chips, Bloomberg reports (Reuters)

OPEC Still Sees Strengthening Oil Demand as It Plans Supply Hike (Bloomberg)

Rubber Production Declines 20.9% In April, Stats Dept Says (Business Today)

Malaysia Approved Over RM114.7 Billion Of Investments In Data Centre, Cloud Services (Business Today)

Special Incentives To Be Created For AI Data Centres: Tengku Zafrul (Business Today)

S P Setia Concludes Johor Land Sale, Set To Gain RM332 Million (Business Today)

SP Setia explores REIT establishment, commences pre-IPO preparatory work (Malaysian Reserve)

DKSH Healthcare Partners With SciGen To Boost Pharmaceutical Distribution In Malaysia (Business Today)

SNS Network Transferred To Main Market On June 13 (Business Today)

Crescendo seals RM116m land sale for data centre development (Malaysian Reserve)

Bintai Kinden wins RM22m contracts for Johor housing projects (Malaysian Reserve)

Loh family transfers stake in Oriental Holdings to another vehicle, leaving out some members (The Edge)

Abrdn emerges as Aurelius Technologies (ATECH)' substantial shareholder with 7.06% stake (The Edge)

Handal buying crane company for RM8mil (The Star)

Agricore’s IPO Oversubscribed By 130 Times (Business Today)

Tuesday, 11 Jun 2024 Entitlement Announcement

6:27PM RGTBHD Bonus Issue
5:49PM BAUTO Special Dividend
5:48PM BAUTO Fourth Interim Dividend
5:39PM FIHB-PB Others

[winston]

Bursa Malaysia to close for Hari Raya Aidiladha on next Monday, June 17

Market News on 13 JUN 2024

S&P 500 closes above 5,400 for the first time as Fed notes ‘modest’ inflation progress (CNBC)

US Inflation Broadly Cools in Encouraging Sign for Fed Officials (Bloomberg)

Fed holds rates steady, indicates only one cut coming this year (CNBC)

China's inflation steady, maintains pressure for more stimulus (Reuters)

World Bank Says Global Growth Stabilising But Well Below Pre-Pandemic Levels (Business Today)

Oil prices rise as supply-demand balance expected to tighten in third quarter (CNBC)

BNM Looking Into Measures To Shore Up Ringgit (Business Today)

Govt Focusing On Diesel Before RON95 Cut (Business Today)

Flexidynamic To Acquire 51% Stake In A Gamma Ray Company (Business Today)

Agmo, SNS To Introduce DXaaS For Generative AI Solutions (Business Today)

BHIC Bags RM1.09 Billion Contract From MINDEF (Business Today)

Toyo Venture’s Vietnam Power Plant Signs Grid Connection Agreement (Business Today)

Hume Cement (HUMEIND) Mulls Disposing Concrete Business (Business Today)

Ecoscience (EIB) Awarded Refinery Related Work Worth RM61.8 Million (Business Today)

HSS Engineers bags RM21m contract for water plant engineering (Malaysian Reserve)

Pacific & Orient slapped with RM56m lawsuit over Miami property project (Malaysian Reserve)

Desmond Lim trims Malton stake after share price rallied to 30-month high (The Edge)

Iqzan Holding secures project worth RM143 mil (The Edge)

YNH appoints UHY as "special independent reviewer" (The Star)

LYC makes U-turn on subsidiary's S'pore Exchange IPO (The Star)

ACE Market-bound Ocean Fresh seeks to raise RM14.01m from IPO (Business Today)

Johor Plantation's Main Market IPO to raise RM735 mil, RM345.2 mil to go to JCorp (Business Today)

Go Hub unveils IPO prospectus to raise RM37.5 mil on ACE Market (Business Today)

Wednesday, 12 Jun 2024 Entitlement Announcement

6:25PM FAVCO First and Final Dividend

[winston]

Market News on 14 JUN 2024

S&P500 in fresh record high as chip stocks ride Broadcom rally (Investing.com)

US weekly jobless claims at 10-month high; inflation cooling (Reuters)

Treasury Secretary Yellen says U.S. debt load is in ‘reasonable place’ if it remains at this level (CNBC)

Yellen: US growth needs public, private investments, China subsidies excessive (Reuters)

Supply Chain Issues, Digital Economy High On Priorities Of Malaysia-Singapore Bilateral Economic Cooperation (Business Today)

Sunview Working On Two Large Scale Solar Projects In Uzbekistan (Business Today)

YTL Power, Sunway Among 12 Added To FTSE4Good Index (Business Today)

Tex Cycle acquires Meridian World for RM55m to boost waste management services (Malaysian Reserve)

Sapura Energy (SAPNRG) receives unqualified opinion in FY2024 audit (Malaysian Reserve)

BTM Resources chairman, independent director resign amid concerns over material transactions (The Edge)

Careplus to raise up to RM10.6 mil via private placement to fund EV manufacturing hub (The Edge)

Solarvest buys office space from related party Chin Hin Property for RM48.73 mil cash (The Edge)

TH Plantations forms partnership with UEM unit to develop biogas power plant in Johor (The Edge)

Priceworth to trade as Maxland from June 14 (The Edge)

Cabnet Holdings unit bags RM46 mil sub-contract works (The Edge)

SNS Network completes transfer of listing to Main Market (The Edge)

Thursday, 13 Jun 2024 Entitlement Announcement

5:19PM INSAS-PB Others
5:18PM PECCA Third Interim Dividend

[winston]

Market News on 18 JUN 2024

S&P 500, Nasdaq hit record closing highs ahead of data, Fed comments (Reuters)

Fed's Harker: one interest rate cut this year my base case (Reuters)

Warren Buffett’s Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9% (CNBC)

China Real Estate, Production Slide Highlights More Stimulus Needed (Bloomberg)

MM2H Programme To Introduce New Regulations Following Cabinet Approval (Business Today)

CPO Prices To Strengthen Between RM3,950-RM4,150: The Malaysian Palm Oil Council (MPOC) (Business Today)

Hibiscus Petroleum to acquire TotalEnergies Brunei RM1.2b (The Malaysian Reserve)

Techbond Sees PPB Become Majority Shareholder With 15% Stake Acquisition (Business Today)

GUH Holdings scraps lithium battery assembly project with Chinese partner (The Edge)

Wasco included in FTSE4Good, F4GBMS indices, underscoring ESG commitment (Bernama)

Destini's indirect unit served winding-up petition over RM18.55 mil tax owed (The Edge)

BFood Takes Paris Baguette To Brunei, Plans 5 Stores In Ten Years (Business Today)

Trive Property proposes two-for-five bonus issue of warrants (The Edge)

Cita Realiti ceases to be Fitters Diversified's largest shareholder after selling 6.3% stake (The Edge)

TA Securities values ACE Market-bound UUE at 37 sen (The Edge)

Oriental Kopi files for ACE Market IPO to raise funds for expansion (The Edge)

Friday, 14 Jun 2024 Entitlement Announcement

5:26PM PWF Second Interim Dividend
5:26PM MANULFE First and Final Dividend (with Dividend Re-Investment Plan)
5:06PM BCB Share Dividend

[winston]

Market News on 19 JUN 2024

S&P 500, Nasdaq hit record highs on AI momentum, Dow edges up after weak retail sales (Reuters)

Fed officials steer cautiously toward potential rate cuts (Reuters)

US pushing Netherlands, Japan to restrict more chipmaking equipment to China, source says (Investing.com)

Hong Kong stock markets will continue trading during typhoons, starting Sept. 23 (CNBC)

Malaysia ready to roll out dual 5G network — Fahmi (Bernama)

Foreign Investors Continue To Inject Funds Into Bursa (Business Today)

A More Transparent Open Approved Permit (AP) Policy Starts From July 1 (Business Today)

TM, Singtel’s Nxera form JV to develop next-gen data centres (The Star)

Notion VTec credits share price surge to strong financial performance, sectoral turnaround, and positive news coverage (The Malaysian Reserve)

Sunview bags solar power plant project worth RM79.5 mil in Bulgaria (The Edge)

Berjaya Corp Eyes EV Market With China’s Skywell New Energy (Business Today)

Nestcon bags two construction projects in Klang Valley worth RM166 mil (The Edge)

BM Greentech to acquire solar firm for RM110m in shares (The Edge)

Plytec bags RM26m job to supply engineering equipment (The Edge)

UEM Sunrise sells remaining 40% stake in Johor unit to KLK for RM386.2 mil cash (The Edge)

MUI secures RM912 mil loan to refinance debt, renovate London hotel (The Edge)

Trading in LBS Bina to be suspended on Wednesday, pending announcement (The Edge)

NI Shin Shares Suspended Due To Melaka MOU Announcement (Business Today)

ACE Market-bound BWYS Group prices IPO at 22 sen a share, to raise RM78 mil (The Edge)

Tuesday, 18 Jun 2024 Entitlement Announcement

6:03PM MLAB Rights Issue
5:35PM AYS Final Dividend

[winston]

Market News on 20 JUN 2024

S&P 500 climbs to another record close Tuesday as Nvidia’s market cap tops Microsoft (CNBC)

Fitch pushes back China rate cut expectations to next year as Fed holds interest rates steady (CNBC)

Solar is growing faster than any electricity source as Big Tech seeks clean energy for data centers (CNBC)

Malaysia Joins Hand With China To Strengthen Economic And Digital Ties (Business Today)

Malaysia Gets Access To Export Fresh Durians To China (Business Today)

Top Glove sees higher glove sales as US demand may shift from China to Malaysia (The Edge)

After over a decade, LBS Bina exits investment in Zhuhai's motor racing circuit for RM124.74 mil cash (The Edge)

KLK subsidiary ends contract with recruitment agency (The Star)

Volcano's CFO no longer a substantial shareholder as he sells part of his stake to ED Andrew Su (The Edge)

Binastra secures RM314m construction job in Kota Kinabalu (The Edge)

DNeX Sees Revenue Stream Spread Across Three Core Segments (Business Today)

Matrix Concepts seals second JV with NS Corp to develop MVV2.0 land in RM436m deal (The Edge)

TA Securities sets 55 sen fair value for Go Hub Capital (The Edge)

Wednesday, 19 Jun 2024 Entitlement Announcement

6:21PM EWINT First Interim Dividend
5:11PM VS Third Interim Dividend
12:56PM SCIPACK Interim Dividend

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Market News on 24 JUN 2024

S&P, Nasdaq end lower as Nvidia drags the tech sector for second day (Reuters)

US business activity inches up in June; price pressures abating (Reuters)

China warns of possible 'trade war' with EU (Reuters)

EU and China set for talks on planned electric vehicle tariffs (CNBC)

Malaysian Economy: E&E And Palm Oil Sectors Drive Up Trade In May (Business Today)

Hiap Huat Embarking On RM100 Million Bunkering Project In Westports (Business Today)

Ann Joo, PT Lumintu Awarded RM297.9 Million Contract For ECRL Station Electrification (Business Today)

PJBumi Awarded Contract For My Digital ID Onboarding By Mimos (Business Today)

IJM Secures RM584 Million Contract For Shah Alam Project (Business Today)

Infomina Receives Job Order From A Thai Bank For RM53.6 Million (Business Today)

Theta Edge, IJN Settle Dispute (Business Today)

GDB Secures RM865.7 Million Contruction Job To Build Logistics Hub (Business Today)

TT Vision, Autowell JV Proceed To Establish Manufacturing Base (Business Today)

US-based lithium battery-producing giant Enovix deal set to drive YBS International (The Star)

Major shareholders group MD Seah, chairman Samsuri exit YLI (The Edge)

ICT Zone get shareholders' nod to transfer to ACE Market (The Edge)

LTAT exits OCK Group's substantial shareholders list after selling 8.94% stake (The Edge)

ACE Market-bound engineering firm UUE's IPO shares for public oversubscribed by over 100 times (The Edge)

Friday, 21 Jun 2024 Entitlement Announcement

12:46PM SCIENTX Interim Dividend
8:01AM GFM Bonus Issue