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

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Market News on 17 JUL 2024

Dow rallies 700 points for best day in more than a year, Russell 2000 small-cap index jumps 3% (CNBC)

IMF sees steady global growth, warns of slowing disinflation momentum (Reuters)

Trump says he would let Fed Chair Powell finish his term if he wins in November, Bloomberg reports (CNBC)

Gold scales all-time high as Fed rate-cut hopes increase demand (Reuters)

BMI forecasts positive consumer spending growth in Malaysia (The Star)

Vestland to acquire office suites, warehouses for RM25 mil (The Edge)

MAHB (AIRPORT) takeover offer expected to be finalised in 3Q, says MOF (Bernama)

Sarawak Cable’s CFO Leaves Company (Business Today)

Maxis Contemplates Buying Over U-Mobile (Business Today)

Kucingko's public issue oversubscribed 99.02 times (The Star)

Tuesday, 16 Jul 2024 Entitlement Announcement

5:05PM SUCCESS Special Dividend

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Market News on 18 JUL 2024

Nasdaq, S&P 500 end sharply lower, hit by chips, megacaps; Dow extends rally (Reuters)

Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments (CNBC)

ASML bookings surge as AI chip demand boosts purchases of its critical semiconductor tools (CNBC)

US considers tougher trade rules in China chip crackdown, Bloomberg News reports (Reuters)

Fed’s Beige Book Shows Slight Economic Growth, Cooling Inflation (Bloomberg)

StanChart sees legs in Bursa rally with rising foreign interest, easing US monetary policy (The Edge)

Malaysian banks resilient amid economic headwinds - S&P Global Ratings (The Star)

Malaysian construction stocks soar amid growing optimism over public, private project roll-outs (The Edge)

Malaysia's property sector shows strong performance in 1H24 (The Star)

Synergy House gets UMA query as shares fall to lowest in three months, short-selling suspended (The Edge)

PGF Capital to distribute thermal insulated panels for data centres (The Edge)

B.I.G Industries ceases concrete division amidst financial struggles (The Malaysian Reserve)

ILB Group expands RE sector with proposed RM98m acquisitions (The Malaysian Reserve)

KWAP ceases to be substantial shareholder in Econpile (The Edge)

Ewein Bhd changes name to Skygate Solutions Bhd (The Edge)

Hong Seng Consolidated acquires Hong Seng Frontier for RM45mil (The Star)

Bintai Kinden bags two construction contracts worth RM25.68mil (The Star)

Wednesday, 17 Jul 2024 Entitlement Announcement

6:22PM ALPHA Interim Dividend
5:14PM PAVREIT Income Distribution
5:03PM ZHULIAN Second Interim Dividend

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Market News on 19 JUL 2024

Wall Street ends sharply lower as anxiety rises, earnings heat up (Reuters)

US chip stocks volatile after Asian dip with China-US spat in focus (Reuters)

Big central banks are starting to cut rates, slowly (Reuters)

10% decrease in RON95 subsidies could narrow fiscal deficit by 0.2% - Malaysian Rating Corporation Bhd (MARC) (The Star)

Malaysia's exports up 1.7% year-on-year in June, slower than expected (The Edge)

Maxis unlikely to succeed in bid to buy U Mobile, deal may strain finances — analysts (The Edge)

‘Hillsdale Furniture Owes Us RM13.53 Million’ Says Synergy House In Response To UMA Query (Business Today)

Sarawak Cable Sees Group CEO Resigning (Business Today)

AWC Accepts LOA From KTMB Worth RM8.6 Million (Business Today)

Gamuda-Alstom JV bags RM5b contract for Perth’s rail network upgrade (The Malaysian Reserve)

SCIB secures RM70mil Islamic banking facilities (The Star)

Sapura Resources unit to explore JV on aircraft-related services (The Edge)

Sunview Signs Heads Of Terms For 600MWAC Solar PV Power Plants, Bess Projects In Uzbekistan (Business Today)

Haily bags RM76m construction job in JB (The Edge)

Johor-based pawnbroker Well Chip posts RM11.9 mil quarterly net profit ahead of listing (The Edge)

Thursday, 18 Jul 2024 Entitlement Announcement

8:25AM IHS046000824 Profit Payment

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Market News on 22 JULY 2024

Dow tumbles more than 370 points, S&P 500 posts worst week since April as investors dump big tech (CNBC)

Foreign holdings of US Treasuries rise to a record in May (Reuters)

Biden drops out of 2024 presidential election, endorses Kamala Harris as Democratic nominee (CNBC)

Second Quarter GDP Growth Of 5.8% Was Beyond Expectations (Business Today)

MyEG Signs SPA With JCorp For Industrial Land Worth RM12.9 Million (Business Today)

Econframe Executive Director Steps Down (Business Today)

Genting Plantations’ Subsidiaries Enter Agreements To Purchase Land In Indonesia For RM593 Million (Business Today)

EG Industries’ Subsidiary Secures RM547 Million 5G Photonic Related Product Orders (Business Today)

Optimax Inks MOU With MOH To Provide Eye Checks, Care To Primary School Pupils (Business Today)

MCE Secures Contract To Provide Parts For Perodua EV Worth RM19 Million (Business Today)

Abang Jo: Sarawak govt, LTAT to ink Affin Bank deal after securing regulatory approvals (The Edge)

SunCon unit awarded RM418 mil sub-contract in Selangor data centre project (The Edge)

Trading of securities in Grand Central Enterprises (GCE) to be halted next Monday, pending announcement (The Edge)

Masteel plans to raise up to RM32m via placement for working capital (The Edge)

Fima Corp bags RM94 mil printing contract from Education Ministry (The Edge)

Press Metal signs R&D agreement with Chinese university for carbon capture, utilisation project (The Edge)

Cooking oil distributor Sik Cheong launches RM23m IPO ahead of ACE Market listing (The Edge)

Friday, 19 Jul 2024 Entitlement Announcement

12:40PM SAPRES Rights Issue
7:00AM BLDPLNT First and Final Dividend

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Market News on 23 JULY 2024

Wall St closes higher as investors return to megacap stocks (Reuters)

China cuts several major interest rates to support fragile economy (Reuters)

China's fiscal revenue shrinks 2.8% on year in first half (Reuters)

Aluminium slips to almost four-month low on demand concerns (The Star)

MPay gets Bank Negara nod for Class A money services licence (The Star)

MSM Malaysia eyes regional exports, sees Indonesia and Indonesia as top markets (The Sun)

MAHB Inks Deal With MBI On Subang Airport Redevelopment (Business Today)

SC Approves YXPM’s Transfer To Main Market (Business Today)

RCE Capital Plans For One-For-One Bonus Issue (Business Today)

Protasco (PRTASCO) Subsidiary Disposes Loss Making Ikram Education For RM30 Mill (Business Today)

Crescendo proposes three-to-one share split (The Edge)

Grand Central Enterprises (GCE) gets delisting proposal, exit offer at 46 sen per share (The Edge)

Eversendai seals Abu Dhabi-based partner to supply steel beams for Trojena Ski Village project (The Edge)

U Mobile Plans Over RM2.34 Billion Malaysia IPO In 2025 (Business Today)

Monday, 22 Jul 2024 Entitlement Announcement

5:50PM IHS046000824 Full Redemption Upon Maturity (Without Election)
5:06PM ULICORP Third Interim Dividend

[winston]

Market News on 25 JULY 2024

S&P and Nasdaq close at multi-week lows as Tesla, Alphabet weigh heavily (Reuters)

China's BYD widens EV lead over Tesla in Singapore, Southeast Asia, data shows (Reuters)

US new home sales fall to seven-month low in June (Reuters)

Oil Ends Slump as US Inventories Drop to Lowest Since February (Bloomberg)

The Malaysia Semiconductor Industry Association (MSIA) sees Malaysia’s semicon exports reaching RM1.2 tril by 2030 (The Edge)

Moody's Ratings: Malaysia to benefit from data centre demand spillover (The Edge)

Ramssol’s PAT Grows 104.6% To RM8.45M On High-Margin Projects, HCM License Distributorship (Business Today)

SC Estate Builder (SCBUILD) Partners Three Others To Build 510 Affordable Houses In Kedah (Business Today)

GHL Systems Bhd’s Stock Suspended From 9am, July 31, 2024 (Business Today)

Maybank reassures systems remain secure amid alleged database leakage claims (The Star)

Ni Hsin to market and sell Ebixon EV Motorcycles in Malaysia (Malaysian Reserve)

Bumi Armada JV inks MOU to explore carbon storage provision in the UK (The Edge)

AME Elite sells four Johor industrial properties to AME REIT for RM119.5 mil (The Edge)

Nationgate to place out shares priced nearly six times that of IPO, raising RM429m (The Edge)

Axteria scraps plans to jointly develop JB mixed project with RM413.2m GDV under first phase (The Edge)

MN Holdings bags RM136m contract from data centre client as order book swells to RM568m (The Edge)

Wednesday, 24 Jul 2024 Entitlement Announcement

5:59PM AMEREIT Income Distribution
5:59PM CEKD Third Interim Dividend
5:31PM PANSAR-PA Others
5:30PM PANSAR Interim Dividend
5:05PM BAT Interim Dividend

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Market News on 26 JULY 2024

S&P, Nasdaq end lower in fickle trading, megacap trend uncertain (Reuters)

U.S. economy grew at a 2.8% pace in the second quarter, much more than expected (CNBC)

Chinese banks cut deposit rates to relieve squeezed margins (Reuters)

China to earmark $41 billion in bond funds to bolster recovery (Reuters)

RGB Assures Not Affected By Philippine Offshore Gaming Operators Ban In Philippines (Business Today)

SCIB Awarded RM162 Million Contract For PPAM Development Work In Perak (Business Today)

Nestle Cuts Sales Growth Outlook As Consumers Become Increasingly Cost-Conscious (Business Today)

TM, Singtel Break Ground For New AI Data Centre In Johor (Business Today)

Capital A's passenger volume rises 11% in 2Q (The Star)

Iqzan to be delisted from July 30 after Bursa dismisses extension appeal (The Edge)

JAKS Resources inks land lease MOU with TDM unit for LSS5 project (The Edge)

Mlabs Systems' rights issue undersubscribed by 0.37% (The Edge)

Prudential plc emerges as substantial shareholder in TT Vision (TTVHB) (The Edge)

Ahmad Zaki (AZRB) gets RM152 mil contract to build Port Dickson specialist hospital (The Edge)

Thursday, 25 Jul 2024 Entitlement Announcement

6:27PM NESTLE Interim Dividend
6:06PM DPIH First Interim Dividend
5:53PM SAB Final Dividend
5:52PM KIPREIT Income Distribution
5:36PM BETA Interim Dividend
5:36PM BETA Final Dividend
5:15PM EUPE Interim Dividend
5:15PM IGBCR Income Distribution
5:14PM IGBREIT Income Distribution
5:13PM MASTER Second Interim Dividend
5:04PM UOAREIT Income Distribution
5:03PM CVIEW Second Interim Dividend
1:20PM LUXCHEM Interim Dividend

[winston]

Market News on 29 JUL 2024

Stocks soar, Dow closes 650 points higher buoyed by bullish inflation report (CNBC)

Fed’s key inflation gauge rose 2.5% in June from a year ago, easing path to rate cut (CNBC)

Cooling US inflation bolsters September rate cut hopes (Reuters)

China's industrial profits post faster gains in June despite faltering economy (Reuters)

Malaysia Has Applied To Russia To Join BRICS: PM (Business Today)

IRB Gives 6-Months Grace Period Once e-Invoice Starts 1 August (Business Today)

Proton begins RM253mil expansion in Tg Malim (The Star)

AirAsia X to take over Capital A’s aviation business directly without setting up NewCo (The Edge)

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang (The Edge)

ViTrox founders team up with Southern Capital to launch RM150 mil Cambrian Fund to boost tech ecosystem (The Edge)

Datasonic gets RM30m contract to supply smart cards to Indonesians (The Edge)

Dnex Unit Secures 14 Year PSC From Petronas (Business Today)

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford (The Edge)

ASB ceases to be substantial shareholder of Telekom Malaysia (The Edge)

MGRC plans private placement to raise up to RM4.98 mil (The Edge)

DXN allocates RM125mil for capex to boost manufacturing capacity (The Star)

Alam Maritim submits regularisation plan to exit PN17 status (The Edge)

99 Speed Mart Retail Holdings inks underwriting deal, seeks 3Q listing (The Edge)

Friday, 26 Jul 2024 Entitlement Announcement

6:51PM DXN First Interim Dividend
5:39PM GAMUDA Second Interim Dividend (with Dividend Re-Investment Plan)
5:38PM EG Interim Dividend
5:24PM ENGTEX-WB Adjustment
5:17PM ENGTEX Bonus Issue
5:12PM SKPRES Final Dividend
5:10PM QL Final Dividend
12:37PM WPRTS First Interim Dividend

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Market News on 30 JUL 2024

S&P 500 barely rises as investors await key results, jobs data, Fed meeting (Reuters)

Brent Oil Falls Below $80 Amid Concerns About Softening Demand (Bloomberg)

US data centre firm Equinix invests RM23m to expand capacity in Malaysia (The Edge)

Malaysia's producer price index up 1.6% in June 2024 (The Star)

Kelington Group to acquire remaining stake in Ace Gases for RM35.69 mil (The Edge)

Heineken (HEIM) raises FY guidance despite first-half miss, impairment (The Star)

Tune Protect appoints How Kim Lian as its new group CEO effective Monday (The Edge)

Dialog To Expand Storage Facilities At Dialog Terminals Langsat (3) (DTL3) After Securing Deal From EcoCeres (Business Today)

Datasonic bags RM21m govt contract to rent out vending machines (The Edge)

PMB Technology to raise RM300 mil from rights issue (The Edge)

NCT Group signs five MOUs worth RM25m to enhance NCT Smart Industrial Park (The Edge)

Bursa Malaysia issues UMA query to MUI Properties (The Star)

Ekovest disposes of more land in KL in related party transaction (The Edge)

Monday, 29 Jul 2024 Entitlement Announcement

6:05PM CHINTEK Special Dividend
6:05PM CHINTEK Second Interim Dividend
6:00PM BMGREEN Final Dividend
5:42PM SHL Final Dividend

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Market News on 31 JUL 2024

S&P 500, Nasdaq stumble on caution ahead of tech earnings (Reuters)

Microsoft Reports Slower Azure Cloud Growth; Shares Drop (Bloomberg)

US consumer confidence rises in July; inflation expectations steady (Reuters)

Anwar Urges Cybersecurity Priority Amid Malaysia’s Lagging Performance (Business Today)

Awantec inks MOU with Nacsa to develop cybersecurity technologies (The Edge)

Itmax System bags 15-year smart parking contract with Kulai Municipal Council (The Malaysian Reserve)

Advancecon bags contract worth RM38.25m from Sime Darby Property (The Edge)

Enra seeks mandate to sell vessel, to fund expansion or purchase of newer vessels (The Edge)

TCS bags RM130 mil related-party contract to build apartments in Kuala Langat (The Edge)

Ecobuilt (ECOHLDS) Says Business Will Cease If Failure To Defend Winding Up Order (Business Today)

MUI Properties says unaware of unusual trading in its shares (The Edge)

Ivory Properties auditors issue disclaimer of opinion (The Malaysian Reserve)

99 Speed Mart eyes Sept market debut as Malaysia's biggest IPO in seven years, Reuters reports (The Edge)

Tuesday, 30 Jul 2024 Entitlement Announcement

6:20PM FBMKLCI-EA Income Distribution
6:04PM ABFMY1 Income Distribution
6:00PM YENHER Bonus Issue
5:45PM ASIAFLE Final Dividend
5:30PM ATRIUM Income Distribution
5:29PM SDRED Final Dividend
5:14PM PANTECH First Interim Dividend
5:14PM L&G Final Dividend
5:03PM DUFU Interim Dividend
1:19PM BURSA Interim Dividend
12:47PM UNISEM Second Interim Dividend