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

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Market News on 25 Jun 2024

Dow closes more than 250 points higher as investors snap up energy and bank stocks, Nvidia slides 6% (CNBC)

Tech Hits Stocks as Nvidia Extends Selloff to 13%: Markets Wrap (Bloomberg)

China Looks Inward As Global Powers Seek To Halt Its EV Dominance (Business Today)

Oil prices rise 1%, on pace for monthly gain as Israel-Lebanon tensions simmer (CNBC)

Malaysia Implements Tax On Cryptocurrency Trading (Business Today)

Systech Partners EH Intergrated To Provide Services For Data Centres (Business Today)

Solarvest, GreenRock Target 1GW Of Green Energy Projects In Next 5 Years (Business Today)

Mi Technovation consolidates RM29m investment in China to capitalise on semiconductor growth (Malaysuan Reserve)

Sunway to buy remaining 70% stake in prefabricated home builder for RM25.5 mil (The Edge)

Eurospan's MGO at RM1.70 fair and reasonable, says independent adviser (The Edge)

VS Industry plans 1-for-10 bonus issue of warrants (The Edge)

Catcha Digital partners with KJ, Shahril Hamdan to launch KS Lagi (The Edge)

Hibiscus Petroleum’s associate 3D Energi inks gas sale deed with ConocoPhillips Australia (The Edge)

EA Technique gets shareholders’ nod for white knight and regularisation plan (The Edge)

Kinergy Advancement (KAB) teams up with Permodalan Kedah for sustainable energy projects (The Edge)

Go Hub sees oversubscription of 78.7 times for 20 million shares offered under IPO (The Edge)

Ocean Fresh IPO Shares Oversubscribed By 76 Times (Business Today)

Johor Plantations' final retail price under IPO fixed at 84 sen (The Edge)

Monday, 24 Jun 2024 Entitlement Announcement

5:18PM WTK Final Dividend
5:18PM MUDAJYA Rights Issue

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Market News on 26 JUN 2024

Nasdaq ends higher on tech strength; Dow pulls back (Reuters)

US consumer confidence retreats slightly; house prices remain elevate (Reuters)

Fed Governor Bowman says she’s still open to raising rates if inflation doesn’t improve (CNBC)

US retains M’sia on currency manipulation watch list (The Star)

Keyfield To Add New Vessels With Investment Of RM172 Million (Business Today)

Ramssol Acquires Thai Based Software Company For RM4.7 Million (Business Today)

MAHB Reports 11.2 Million Passengers In May 2024 (Business Today)

MGRC To Offer Genome Testing Services With Korean Firm Dx&Vx (Business Today)

TRC Synergy bags RM125m maintenance contract for Royal Malaysian Navy Submarine Base (Malaysian Reserve)

Prolintas confirms personnel remanded after MACC arrests CEO, others over alleged bribery (The Edge)

Accrelist buys major stake in Mclean (The Star)

UWC expands capacities amid semiconductor and EV projects (The Star)

KNM gets temporary restraining order from High Court against its creditors (The Edge)

YGL Convergence says not aware of reason behind UMA after share price climbs to three-year high (The Edge)

Tuesday, 25 Jun 2024 Entitlement Announcement

6:43PM MAGNI Fourth Interim Dividend

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Market News on 27 JUN 2024

Wall Street ends slightly up, trade choppy ahead of inflation data (Reuters)

Fed's Bowman: inflation will decline with policy rate held steady (Reuters)

Rate-cutting cycle to be deeper than expected as global disinflation underway: UBS (Investing.com)

Yen plunges to 38-year low vs dollar as markets brace for Japan intervention (Reuters)

US banks suffer steeper losses, but retain large cushions in annual Fed health check (Reuters)

Magma Looks To Hospitality In Driving Growth (Business Today)

AmanahRaya REIT (ARREIT) Disposes Cyberjaya Asset For RM42.5 Million (Business Today)

Sapura Energy Chairman Under MACC Investigation, Group Appoints Shahin As Interim (Business Today)

G3 Global plans RM10m private placement for AIS3 project funding (Malaysian Reserve)

IJM Corp wins RM332m Iskandar Puteri Data Centre contract with TM (Malaysian Reserve)

EPF emerges as Aurelius Technologies (ATECH)’ substantial shareholder with 7.87% stake (The Edge)

CN Asia set to emerge as largest shareholder in SMTrack via debt settlement plan (The Edge)

Hextar Industries (HEXIND) to complete transfer to Main Market on June 28 (The Edge)

Samaiden inks partnership to develop solar street lighting systems (The Edge)

SC sues Yu Kuan Chon over alleged market rigging, manipulation (The Edge)

Northern Solar, backed by Lagenda Properties, files for ACE Market IPO (The Edge)

Main Market-bound pawnbroker Well Chip aims to raise RM172.5m from IPO (The Edge)


Wednesday, 26 Jun 2024 Entitlement Announcement

5:36PM SAMCHEM First Interim Dividend
5:13PM POHUAT Second Interim Dividend

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Market News on 3 JUL 2024

Wall Street indexes end higher, helped by Tesla, megacap growth stocks (Reutes)

Fed's Powell says US on 'disinflationary path,' but more data needed before rate cuts (Reuters)

US labor market steadily easing despite rise in job openings (Reuters)

Sunway sells Johor land to Singaporean firm Equalbase for over RM380m (The Edge)

Accrelist completes acquisition of 28.53% stake In MClean (The Star)

Reservoir Link completes over 1.5GW in solar projects (The Star)

Pertama Digital secures online ID onboarding services contract from MyDigital ID (The Edge)

G Capital scraps RM113m rights issue of RCULS (The Edge)

KNM Group receives new bids for FBM Hudson Italiana Sale (The Malaysian Reserve)

Malacca Securities Gives Go Hub A 93% Fair Value Premium Over IPO Price (Business Today)

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Market News on 5 JUL 2024

Friday’s jobs report expected to show slowing payroll gains (CNBC)

SC Cautions Public On Pre-IPO Scammers Disguised As Agents (Business Today)

MMAG’s air cargo unit inks interline deal with Teleport (The Edge)

Toyo Ventures confirms termination of Song Hau 2 thermal power plant project in Vietnam (The Edge)

Awantec bags RM26m contract to provide cloud-based solutions to all schools under MOE (The Edge)

Keyfield secures two contracts totalling RM40m to supply accommodation workboats (The Edge)

Healthcare Information Management Systems Society (HIMSS) and SNS Network partner to drive digital health transformation in Malaysia (The Star)

NTT DATA on course to delist GHL (The Star)

Pelikan changes name to PBS (The Star)

Bursa grants Barakah extension (The Star)

Thursday, 4 Jul 2024 Entitlement Announcement

12:34PM MOBILIA Bonus Issue

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Market News on 9 JULY 2024

S&P 500 ekes out win to record ahead of Powell's testimony (Investing.com)

Powell to Face Fed Critics in Congress on High Rates, Bank Rules (Bloomberg)

June US job growth moderates, unemployment rate ticks up (Reuters)

China's central bank tweaks liquidity operations (Reuters)

Proposed New Rail Line Could Transform Northern Selangor Towns (Business Today)

Pestech JV Agree To Annul The RM109 Million Contract For Entinggan (Business Today)

Tex Cycle Propose Main Market Transfer (Business Today)

FGV Submits Petition To US Customs Withhold Release Order (WRO) After Remediation Efforts (Business Today)

Southern Cable Secures RM99.6 Million Supply Contract From TNB (Business Today)

MGRC expands healthcare business with with RM2.5m subscription in Genotec (Malaysian Reserve)

Auro to diversify into F&B sector with HeyTea franchise (The Star)

SMI seeks court order to identify sellers of shares acquired by new major shareholder (The Edge)

Casio King’s children raises stake in Eurospan to 73.99% as MGO closes (The Edge)

HB Global's ex-chairman Keh Chuan Seng ceases to be substantial shareholder (The Edge)

Salutica falls to lowest in nearly nine months after suit against Apple dismissed (The Edge)

IT firm TechStore files for ACE Market IPO to raise funds for expansion, working capital (The Edge)

Friday, 5 Jul 2024 Entitlement Announcement

6:39PM LSTEEL Interim Dividend
5:24PM CCIB Interim Dividend

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Market News on 10 JULY 2024

S&P 500 and Nasdaq notch record highs as Nvidia gains (Reuters)

Powell flags cooling labor market as emerging risk as Fed moves closer to cuts (Investing.com)

Fed Chair Powell says holding rates high for too long could jeopardize economic growth (CNBC)

US Treasury's Yellen: China AI investment restrictions are narrowly targeted (Reuters)

Bank Negara to open licences to digital insurers that meet its requirements (The Star)

MISC Says No Development For Disclosure Over Stake Buy In Bumi Armada (Business Today)

CTOS Wins Appeal Against High Court Ruling (Business Today)

Vestland (VLB) Awarded KB-KK Expressway Earthwork Worth RM195 Million (Business Today)

Tex Cycle (P2) Partners Econas Resource To Energy To Improve Scheduled Waste Management (Business Today)

Eduspec plans to diversify into E&E testing, placement to raise RM30.54m for the venture (The Edge)

Mclean appoints new chairman, CEO following stake sale to Singapore-listed firm (The Edge)

Theta Edge secures RM673.8m contract to develop IoT for smart businesses in Ampang Jaya (The Edge)

YTL Power and SIPP's stake in Ranhill Utilities stay at 53.19% at close of MGO (The Edge)

Ann Joo proposes one-for-four rights issue with warrants, to raise up to RM166m (The Edge)

RichTech Digital Makes Call For ACE Market IPO To Increase Working Capital, House New HQ (Business Today)

ACE Market-bound Vetece inks underwriting agreement with Kenanga IB (The Edge)

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Market News on 11 JULY 2024

S&P 500 closes above 5,600 for the first time, lifted by gains in Big Tech (CNBC)

Powell says Fed will cut rates when ready, regardless of political calendar (Reuters)

TSMC Q2 revenue jumps on AI boost, handily beats market forecasts (Reuters)

China June consumer inflation misses forecasts amid anaemic demand (Reuters)

China announces more short-selling curbs to stabilise stocks (Reuters)

OPEC Data Show Oil-Cut Laggards Still Exceeding Supply Limits (Bloomberg)

Malaysia aims to finalise special economic zone (SEZ) deal with Singapore in September (The Star)

Yuwang Emerges As Substantial Shareholder In Nextgreen Global (NGGB) (Business Today)

Econpile (M) Awarded RM26.5 Million Earthworks, Piling And Sub-Structure Works For Condo Project (Business Today)

KAB Shareholders Appointed As EA Technique Executive Directors (Business Today)

MoF Clarifies BlackRock’s Non-Involvement In MAHB Stake Sale (Business Today)

Annum Bhd’s Subsidiary Awarded RM53.2 Million Labour And Machineries Contract By Kacon Construction (Business Today)

JAG, Mitsubishi Studying On Possible Household Appliance Recycling Business (Business Today)

Agmo Holdings Secures Strategic Integration Partnership With MyDigital ID (Business Today)

Sarawak Cable Informs Of Being Placed Under Judicial Management (Business Today)

AppAsia Aligns With CMSC To Create Additional Income Stream (Business Today)

Dolphin International Proposes SSA Variation, Private Placement, Name Change (Business Today)

Scomi Energy aborts latest regularisation plan involving Dhaya Maju founder's entry as major shareholder (The Edge)

LFE Corp secures RM15 mil sub-contract in Selangor (The Edge)

Haily proposes one-for-one bonus issue with free warrants (The Edge)

QL Resources proposes one-for-two bonus issue (The Edge)

Sabah-based builder Azam Jaya files for Main Market IPO (The Edge)

Air fragrance maker Vanzo files for ACE Market IPO to raise funds for retail expansion, marketing (The Edge)

Sorento Capital gets nod from Bursa for ACE Market IPO (The Edge)

Construction services firm Wawasan Dengkil files for ACE Market IPO (The Edge)

Wednesday, 10 Jul 2024 Entitlement Announcement

6:14PM EUROSP Special Dividend

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Market News on 15 JUL 2024

Wall Street closes higher on bets for Fed rate cut (Reuters)

US producer price data points to subsiding inflation pressures (Reuters)

Morning Bid: Trump shooting overshadows markets, China GDP in spotlight (Reuters)

Theta Edge now says RM673.8 mil 'investment' for new IoT project is actually opex (The Edge)

REDtone now fourth-largest shareholder in Theta Edge after raising stake to 7.12% (The Edge)

Kimlun forms JVco with Singapore’s Astaka to build serviced apartments in JB (The Edge)

EPF emerges as Johor Plantations’ (JPG) substantial shareholder, with 8.9% stake (The Edge)

Toyo Ventures’ Song Hau 2 RM4.6 Billion Loan Facility Terminated (Business Today)

Radiant Globaltech (RGTECH) to acquire 80% stake in IT firm for RM52.5m (The Edge)

CAB’s food-producing business to start ops soon (The Star)

Uzma Berhad's Subsidiary Expresses Interest In Sale And Purchase Of Hydrocarbon Fuel (Business Today)

JAKS Resources partners with Chinese firm to bid for 500MWac solar PV plants under LSS5 programme (The Edge)

Minetech Resources Wins RM4.05 Million Banting Industrial City Contract (Business Today)

Tafi Secures RM207 Million Armani KPF2 Construction And Development Contract (Business Today)

Nestcon aims to raise RM27m via private placement to repay bank borrowings (The Edge)

KNM gets six-month extension to submit PN17 regularisation plan (The Edge)

Well Chip Group’s IPO Shares Oversubscribed 12.87 Times (Business Today)

TopVision files for ACE Market IPO to raise funds, transfer listing from LEAP Market (The Edge)

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Market News on 16 JUL 2024

US Stocks Rise as ‘Trump Trades’ Take Hold, Small-Caps Rally (Bloomberg)

Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates (CNBC)

Powell says he will stay at Fed through end of term as chair (Reuters)

China's Q2 GDP grows 4.7% y/y, below forecast (Reuters)

China's economy falters, raises pressure for more stimulus (Reuters)

Semiconductor Industry Poised For Growth, Supported By Advancements In AI, Malaysia Semiconductor Industry Association (MSIA) Survey Says (Business Today)

E-invoice implementation will not impact overall vehicle sales this year - Miti (The Star)

Citaglobal to set up SPV with China govt-linked unit for green energy projects in Pahang (The Edge)

MGRC inks collaboration on genetic screening services (The Star)

Datasonic shares rise on 10-year passport extension news (The Edge)

WCT clinches another Kwasa Land contract worth RM214m (The Edge)

SMI’s substantial shareholder Mah Sau Cheong sues Techbase, YB Ventures over alleged share manipulation (The Edge)

Econframe scraps plans to acquire 70% stake in industrial property builder (The Edge)

MMAG ventures into Cambodia to expand regional cargo operations (The Malaysian Reserve)

UUE Holdings gets RM27m underground cable contracts (The Edge)

Advancecon inks JV with Perak govt to develop centralised labour quarters (The Edge)

Reservoir Link unit likely to list on Nasdaq in 3Q (The Star)

PTT Synergy proposes one-for-one bonus issue (The Edge)

Elridge Energy signs underwriting agreement with KAF for ACE Market IPO (The Edge)

KHPT gets green light to list on ACE Market (The Star)

TMK Chemical, controlled by youngest Lee brother of KLK, files for Main Market IPO (The Edge)

Monday, 15 Jul 2024 Entitlement Announcement

5:07PM CRG Interim Dividend
5:04PM XOX-PA Adjustment
5:04PM XOX Share Consolidation