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

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Market News on 2 SEPTEMBER 2024

Dow notches record high close after upbeat economic data (Reuters)

The Fed’s favorite inflation indicator increased 0.2% in July, as expected (CNBC)

Solid US consumer spending pushes against hopes for hefty Fed rate cut (Reuters)

China's weak factory PMI raises pressure for consumer stimulus (Reuters)

Container Carrier Profits Soar on Record Volumes, Higher Rates (Bloomberg)

OPEC+ likely to proceed with planned output hike from October, sources say (Reuters)

All PLCs must conduct hybrid or physical general meetings from March 1, 2025 (The Star)

Pansar, China Road & Bridge Secure RM804 Million Kuching Urban Transport Project (Business Today)

Analabs Acquires RM22.9 Million In Maybank Securities (Business Today)

TMC Life Goes Ahead With Domestic Inquiry On Suspended Group CEO (Business Today)

Yinson Disposes Assets To Icon Offshore And Takes Minority Stake (Business Today)

SkyWorld Announces Second Venture In Vietnam (Business Today)

MSM wins deal to export grain sugar to China, aims to deliver 45,000 tonnes this year (The Edge)

Axis REIT plans private placement of 15% issued units to raise RM455 mil (The Edge)

UEM to acquire up to 51% in power producer Nur Power (The Edge)

Friday, 30 Aug 2024 Entitlement Announcement

6:11PM SCICOM Fourth Interim Dividend
6:07PM CHINWEL Interim Dividend
5:53PM FCW First Interim Dividend
5:22PM ARREIT Income Distribution
5:18PM JFTECH Final Dividend
5:16PM CIMB First Interim Dividend
5:16PM CIMB Special Dividend
5:12PM JTIASA Second Interim Dividend

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Market News on 3 SEPTEMBER 2024

CN Aug Caixin Manufacturing PMI Hikes to 50.4, Beating Forecasts (AA stocks)

China warns Japan of retaliation over potential new chip curbs, Bloomberg reports (Reuters)

Malaysia’s PMI stays at 49.7 in August, signalling modest decline in manufacturing sector (The Star)

Econpile Awarded RM71 Million Demolition Work In Jalan Sultan Ismail (Business Today)

Binastra Awarded RM235 Million Condo Project In Sentral Damansara (Business Today)

DRB-Hicom Slapped With An RM246 Million Tax Bill (Business Today)

Powerwell Receives Contracts To Supply Switchboards For Project Rapid Transit System (RTS) (Business Today)

Scanwolf Closes RM16.1 Million In Flooring Contracts (Business Today)

Pekat Inks RM29.8 Million Deal For Solar Project In Maldives (Business Today)

Ramssol inks MoU with AmBank for fintech collaboration (Malaysian Reserve)

Southern Score (SSB8) aims to gain exposure to growing data centre construction market (The Sun)

Kenanga invests 8% stake in Helicap, aims to boost digitalization (The Star)

NPC Resources sells loss-making Indonesian unit for RM29m (The Edge)

Jentayu Sustainables (JSB) seeks extension until 2025 to complete acquisitions proposed in 2021 (The Edge)

Puncak Niaga sells subsidiary for RM83 mil to improve cash flow (The Edge)

Penang-based Chemlite files for ACE Market IPO to raise funds for new facility (The Edge)

KAF Investment Bank to underwrite engineering service firm 3REN's IPO (The Edge)

Monday, 2 Sep 2024 Entitlement Announcement

6:10PM YENHER Interim Dividend
5:31PM ABLEGLOB Second Interim Dividend
5:15PM QL Bonus Issue
5:04PM SPSETIA-PA Others
5:04PM SPSETIA-PC Others

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Market News on 4 SEPTEMBER 2024

Dow closes 600 points lower to begin September, S&P 500 drops 2% (CNBC)

Nvidia plunges almost 10%, dragging basket of chip stocks to worst day since March 2020 (CNBC)

Nvidia Gets Department of Justice (DOJ) Subpoena in Escalating Antitrust Probe (Bloomberg)

US manufacturing mired in weakness; construction spending falls (Reuters)

Oil slumps 5% as end to Libyan dispute in sight (The Star)

Deputy Plantation and Commodities Minister said Rubber glove export value set to rise to RM12.4 billion this year (The Sun)

AWC Wins Data Centre Job Worth RM19.9 Million From Gamuda (Business Today)

Solarvest Secures RM113 Million EPCC Contract Under The Corporate Green Power Programme (CGPP) (Business Today)

Alpha IVF expands to Manila with new vitro fertilisation (IVF) centre (Malaysian Reserve)

Cypark defers periodic sukuk distribution (The Star)

Betamek and Universiti Teknologi Petronas collaborate on child safety infotainment technology (Malaysian Reserve)

DC Healthcare scraps plan to acquire aesthetic clinic operator after share price drop (The Edge)

MHB teams up with HD Hyundai for green retrofit related works (The Edge)

Hexza buys 50,000 shares in chip designer giant Arm after selling stake in robotics firm Symbotic at a loss (The Edge)

Northeast Signs IPO Agreement With AHIM For ACE Market Listing (Business Today)

OB Holdings Inks Agreement With Alliance For ACE Market Listing (Business Today)

ACE Market-bound Sorento Capital inks IPO underwriting agreement with Alliance Islamic Bank (The Edge)

Tuesday, 3 Sep 2024 Entitlement Announcement

6:07PM MAGNI Interim Dividend
5:24PM PTT Bonus Issue

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Market News on 5 SEPTEMBER 2024

Wall Street ends slightly down after weak labor market data, dovish Fed comments (Reuters)

U.S. job openings fell more than expected in July in another sign of labor market softening (CNBC)

Economic activity slows further on weaker consumer spending, manufacturing: Fed (Investing.com)

Nvidia says it didn’t receive antitrust subpoena from DOJ (CNBC)

Oil Falls as Demand Woes Overshadow Possible OPEC Supply Delay (Bloomberg)

Malaysia stock exchange wants to ease institutions' hold on stocks (Reuters)

Central Global (CGB) Awarded Pan Borneo Sub-Contract Work Worth RM616.3 Million (Business Today)

Elridge Energy Inks Deal To Supply Indonesian Biomass Fuel Company With Palm Kernel Shells (Business Today)

IHH Acquires Island Hospital Penang For RM3.9 Billion Cash (Business Today)

Capital A to end RM1.9b corporate guarantees post disposal of aviation business (Malaysian Reserve)

Dataprep and Indonesia’s Dua Empat Tujuh forge collaboration in data centres and AI (Malaysian Reserve)

MSM says unaffected by Brazil crop fire thanks to hedging (The Edge)

YTL Power confirms under MACC probe over 1BestariNet project (The Edge)

Jentayu Sustainables (JSB)' hydropower project receives notification letter from Sabah regulator (The Edge)

Ocean Vantage (OVH) sees Sarawak-based companies emerge as largest shareholders (The Edge)

Wednesday, 4 Sep 2024 Entitlement Announcement

12:34PM OSK Interim Dividend

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Market News on 9 SEP 2024

Wall Street stocks fall, big weekly drop as market waits for Fed to move (Reuters)

US equity funds see major outflows on growth concerns (Reuters)

U.S. payrolls grew by a less-than-expected 142,000, but unemployment rate ticked down to 4.2% (CNBC)

Yellen says U.S. economy remains solid, on path to ‘soft landing’ with no meaningful layoffs (CNBC)

U.S. crude oil falls to lowest level since June 2023, posts worst week in nearly a year (CNBC)

InvestPenang in communication with Intel over news on its expansion pause – Chow (The Malaysian Reserve)

MyDIGITAL Corp, Bursa Malaysia ink MoC to drive innovation through digital transformation (The Star)

Gamuda Halts Rasau Water Project After Land Collapses (Business Today)

Gamuda JV Unit Accepts Ulu Padas Hydroelectric Project Notification, Anticipates RM400 Million Annual Revenue (Business Today)

MyEG partners with China customs agency in bid to secure 'single window' project (The Edge)

Gadang subsidiaries face RM9.77 mil claim for RTS Link work (The Edge)

No progress on TNB-Masdar solar tie-up in Pahang, says Citaglobal (The Edge)

Varia bags another flood mitigation job in Johor worth RM335m (The Edge)

Globetronics Partners With MyDIGITAL To Advance Malaysia’s Digital Transformation (Business Today)

MISC acquires full ownership of FPSO Kikeh (The Star)

OSK Holdings acquires Universal Cable's assets for RM85m to expand its cable manufacturing ops (The Edge)

Hartalega sees glove demand normalising by 2026, shrugs off Chinese competition (The Edge)

CelcomDigi (CDB), Borneo Restu in partnership to drive digital innovation in Sarawak (The Edge)

Pantech Global files for Main Market IPO (The Edge)

Friday, 6 Sep 2024 Entitlement Announcement

5:23PM HARTA Final Dividend

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Market News on 11 SEP 2024

S&P 500 shrugs off energy, financials slide as tech shines (Investing.com)

Two key inflation reports this week will help decide the size of the Fed’s interest rate cut (CNBC)

China's exports up solidly but slowing imports dim trade outlook (Reuters)

Huawei launches $2,800 trifold phone hours after Apple debuts iPhone 16 (CNBC)

Malaysia's IPI expands 5.3% in July, driven by strong manufacturing output (The Star)

Chin Hin Group Property to jointly undertake high-rise project in JB with Atlan (The Edge)

Fire At Press Metal Smelter Plant Expected To Impact Annual Capacity (Business Today)

HE Group secures RM30.6 mil power station contract in Ulu Klang (The Edge)

ITMAX executive director offloads 6% stake for RM201 mil, ceases to be substantial shareholder (The Edge)

Dataprep teams up with a Japan-based firm for ICT collaboration (The Edge)

Globetronics plummets as auditor resigns, dragging new shareholder APB into RM102m paper loss (The Edge)

L&G plans RM2.4bil township project in Shah Alam (The Star)

Shareholders give nod to Magma's RM100mil Redeemable Convertible Notes (RCN) issuance (The Star)

Zantat seeks to raise RM14 mil via share issuance to Bumiputera investors (The Edge)

Ace Market-bound Solar District Cooling Group's IPO oversubscribed by 144 times (The Edge)

Tuesday, 10 Sep 2024 Entitlement Announcement

7:25PM ICTZONE-PA Others
5:07PM CRESNDO Subdivision

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Market News on 17 SEPTEMBER 2024

S&P inches up, Nasdaq declines as tech weighs ahead of Fed decision (Reuters)

Fed Ready to Unshackle US Economy With Soft Landing at Stake (Bloomberg)

China August industrial output growth misses forecasts (Reuters)

Downbeat China factory output, retail sales add to urgency for stronger stimulus (Reuters)

China opposes US tariff hikes, vows steps to defend its firms' interests (Reuters)

China Calls For Removal Of Latest Tariff By US On Face Masks, Gloves, Wafers (Business Today)

Pansar Awarded Sarawak-Sabah Link Road Project Worth RM777 Million (Business Today)

Yuwang Ups Nextgreen (NGGB) Stake to 7.5% (Business Today)

Seal Inc’s Unit Bags RM645 Million Battery Storage Project In Sabah (Business Today)

Edra secures one-year power purchase agreement (PPA) extension (The Star)

NTPM Holdings to ride on rising demand for eco-friendly products (The Star)

Minority shareholders block Grand Central Enterprises' privatisation plan (The Edge)

EPF and Tabung Haji no longer substantial shareholders of Globetronics (The Edge)

Cosmos sells off unit for RM12.31 mil cash, to focus on non-revenue water management system business (The Edge)

MMAG buys out Velocity Capital,'s stake in loss-making subsidiary (The Edge)

Tex Cycle gets EIA approval for RM100 mil waste management facility in Sabah (The Edge)

HeiTech Padu (HTPADU) secures RM133.73 mil contract from JPJ (The Edge)

Friday, 13 Sep 2024 Entitlement Announcement

5:07PM LTKM Interim Dividend
5:07PM AXIATA First Interim Dividend

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Market News on 19 SEPTEMBER 2024

Dow closes lower, giving up 375-point pop after big Fed rate cut (CNBC)

Fed Cuts Rates by Half Point in Decisive Bid to Defend Economy (Bloomberg)

The Fed forecasts lowering rates by another half point before the year is out (CNBC)

US Federal Debt Soars To Record High, Triggers More Worries (Business Today)

Insurance, takaful post robust growth, with strong prospects and challenges: BNM governor (The Sun)

Haily Bags Housing Project Contract From Mah Sing For RM75.9 Million (Business Today)

Kimlun Awarded RM128 Million Contract For Residential Project In Johor (Business Today)

Capital A And PT Garuda Considering Joint maintenance, repair and overhaul (MRO) Business (Business Today)

AAX gets clearance for EGM to purchase Capital A’s aviation business (The Star)

ACE Market Bound SDC Secures Sub-Contract Work For A Private Hospital (Business Today)

Pekat Group Secures RM115 Million EPCC Job In Perak (Business Today)

Press Metal (PMETAL) To Invest RM1 Billion For An Alumina Refinery Plant In Indonesia (Business Today)

Securemetric (SMETRIC) secures RM14m contract (Malaysian Reserve)

WCT to unlock RM2.4b in property assets via Paradigm REIT listing (Malaysian Reserve)

Chin Hin MD ceases to be substantial shareholder in NCT Alliance after selling 0.62% stake for RM5.8m (The Edge)

YBS inks MOU to acquire stake in precision manufacturing companies for RM167m (The Edge)

Niche Capital Emas gets Kelantan department's green light for hard rock mining operations (The Edge)

WTK MD Patrick Wong emerges as group's substantial shareholder after buying 20 mil shares at premium (The Edge)

TSR Capital secures RM75m contract for construction work in Gombak (The Edge)

Wednesday, 18 Sep 2024 Entitlement Announcement

5:35PM VIZIONE Share Consolidation
5:35PM VIZIONE-WE Adjustment
1:19PM SCIPACK Final Dividend

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Market News on 20 SEP 2024

Dow jumps 500 points, S&P 500 closes above 5,700 for the first time a day after Fed slashes rates (CNBC)

US weekly jobless claims at four-month low; housing market remains on the back foot (Reuters)

Oil ends more than 1% higher on US rate cut, declining crude stockpiles (Reuters)

RAM Ratings : Malaysia’s Strong Economic Growth Momentum To Carry Into 2H 2024 And 2025 (Business Today)

Air passenger traffic rises 12.7% in August (The Star)

Ancom Nylex To Acquire 70% Stake In Colorex For RM14 Million (Business Today)

IJM Inches Up The ESG Ladder With Improvements In Data Collection (Business Today)

Pos Malaysia to transition to electric vehicles by 2030 (Malaysian Reserve)

Country Heights (CHHB) urges contractor to withdraw legal action, cites ongoing payment dispute 2030 (Malaysian Reserve)

Pharmaniaga now eyes Bursa approval for regularisation plan by next month (The Edge)

KHPT Prices IPO At RM0.20, Aims To Raise RM21 Million (Business Today)

Thursday, 19 Sep 2024 Entitlement Announcement

6:13PM KESM Interim Dividend
5:39PM ECOWLD Second Interim Dividend
5:38PM HAILY Bonus Issue

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Market News on 23 SEP 2024

Equities end flat but Dow ekes out record in strong week (Reuters)

Investor focus turns to data, election, earnings after Fed cut (Reuters)

U.S. to propose barring Chinese software, hardware in connected vehicles (Reuters)

China unexpectedly leaves lending rates steady; markets expect cuts soon (Reuters)

US rate cut, Malaysia's structural reforms and economic outlook fuelling ringgit recovery - Bank Negara (The Star)

Govt announces incentives to jumpstart Forest City special financial zone (The Edge)

US tariff hike on Chinese gloves an 'opportunity' for Malaysian glove makers, says Top Glove (The Edge)

TNB to deliver 100MW of power to Singapore in new agreement (The Malaysian Reserve)

CCM Approves Minetech Resources’ Name Change (Business Today)

Mycron Steel inks MoU with Japan's JFE Steel to drive green steel solutions in Malaysia (The Star)

PBA Holdings to complete three water pipeline projects over next two years (The Edge)

Sunzen Biotech eyes double-digit growth on rising demand for bird's nest products, loan financing (The Edge)

SCIB Informs Bursa Funding Source For Bintulu Project Currently Undetermined (Business Today)

NCT Alliance to acquire 51% of Setara Juara as it expands footprint in Sabah (The Sun)

Sarawak govt gets Bank Negara's nod for acquisition of major stake in Affin Bank (The Edge)

Eplas Global files for ACE Market IPO to raise funds to start manufacturing ops (The Edge)

Friday, 20 Sep 2024 Entitlement Announcement

7:04PM TRIVE Bonus Issue