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

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Market News on 24 SEP 2024

Wall St ends slightly higher after Fed policymakers back rate cuts (Reuters)

Fed’s Neel Kashkari Expects Two Quarter-Point Cuts Before Year’s End (Bloomberg)

China’s central bank injects cash into economy (Reuters)

Foreign net buying enters sixth successive week, inflow of RM271.5m (The Sun)

Malaysian Rubber Council projects exports of rubber, related products to exceed RM30 bil (Bernama)

KJTS bags RM24 mil data centre job in Johor (The Edge)

Globetronics tanked as investors wrongly associated it with the fate of Serba Dinamik, says chairman (The Edge)

Ancom Nylex (ANCOMNY) To See Helm AG As Major Shareholder After Placement Exercise (Business Today)

Capital A seeks approval for sale of aviation business to AirAsia X at EGM on Oct 14 (The Star)

ITMAX System secures 15-year smart parking contract in Segamat, Johor (The Star)

Pekat lands RM115m solar PV plant from Mega First (The Malaysian Reserve)

Sarawak to finally ink deal to raise stake in Affin Bank to around 30% on Friday (The Edge)

Minetech Resources changes name to Aizo Group Sept 25 (The Star)

Pharmaniaga replaces PwC with Ernst & Young as external auditor (The Star)

Three APB Resources directors step down amid battered share price (The Edge)

Mercury Securities ascribes 55 sen fair value to ACE Market-bound Crest Group (The Edge)

Cropmate gets Bursa's nod to list on ACE Market (The Edge)

Monday, 23 Sep 2024 Entitlement Announcement

6:22PM SLIC First Interim Dividend
5:39PM PLENITU Final Dividend
5:31PM ANCOMNY Second Interim Dividend
5:30PM ANCOMNY Dividend in specie
5:06PM MFCB Interim Dividend

[winston]

Market News on 25 SEP 2024

S&P 500, Dow close at new highs as mining stocks rise on China stimulus boost (Reuters)

China will cut reserve requirement ratio (RRR), by 50 basis points in the near term, PBOC governer (CNBC)

OPEC Sticks to Outlier View on Oil Demand Growing Through 2050 (Bloomberg)

Ringgit Closes At 4.15 Reaching Highest Level In 34 Months (Business Today)

Encouraging July economic performance driven by real imports of semiconductors - DoSM (The Star)

Magma proposes capital reduction, RM80m land buy from company owned by major shareholder and Lee Chong Wei (The Edge)

Yinson Renewables’ 97 MWp Matarani solar project in Peru commences operations (The Star)

Asia Poly (ASIAPLY) ceases to be substantial shareholder in Dolphin International (The Edge)

Eonmetall plans placement to raise RM8.64 mil for working capital (The Edge)

Digistar aiming to raise RM9m via private placement to fund pay-TV business (The Edge)

Pesona Metro clinches RM321m condo job in KL (The Edge)

Siab Holdings Bhd will change its name to Taghill Holdings Bhd effective Sept 26 (The Star)

SDCG Teams Up With SSE For Renewable Energy Revolution (Business Today)

Tuesday, 24 Sep 2024 Entitlement Announcement

5:17PM VS Fourth Interim Dividend
1:06PM SCIENTX Final Dividend

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Market News on 26 SEP 2024

S&P 500, Dow close lower as investors await insights on Fed rates, data (Reuters)

China Central Bank Cuts Medium Term Loan Rate (Reuters)

US Congress passes stopgap spending bill to avert government shutdown (Investing.com)

Coordinated Efforts Between BNM And Government To Continue Supporting The Ringgit (Business Today)

KLK partners with Alami Commodities to market palm oil, specialty fats in Middle East (The Edge)

MCE (MCEHLDG) Eyes New Export Market, Aided By Design Sophistication (Business Today)

Reservoir Link bags three-year well leak service job from Hibiscus’ unit (The Edge)

Asia Poly buys 35% stake in recycling firm for RM7.5 mil, cash (The Edge)

Keyfield clinches eight work orders worth RM130m from Petronas Carigali (The Edge)

Three UEM Sunrise projects in Iskandar Puteri with combined GDV of RM499 mil fully taken up (The Edge)

AAX Issues Circular To Shareholders On Proposed RM6.8 Billion AirAsia Takeover (Malaysian Reserve)

Capital A can exit PN17 before branding biz carve-out, says Fernandes (The Edge)

KJTS inks 20-year agreement for retrofit, O&M services for chiller plant in Thailand (The Edge)

Wednesday, 25 Sep 2024 Entitlement Announcement

6:27PM HIGHTEC Interim Dividend
5:18PM MCEHLDG Second Interim Dividend
5:14PM MHCARE Bonus Issue
5:11PM MSC Interim Dividend
5:04PM SNS Second Interim Dividend

[winston]

Market News on 27 SEP 2024

Wall St closes higher on strong US economic data (Reuters)

Yellen says economy on 'soft landing' path, Fed's policy rate will fall to neutral level (Reuters)

China’s Politburo Supercharges Stimulus With Housing, Rates Vows (Bloomberg)

Micron rises 13% as strong forecast impresses AI-hungry investors (Reuters)

Silver Surges to the Highest Since 2012 as Precious Metals Rally (Bloomberg)

Anwar Ibrahim Advocates For Selective Foreign Direct Investments In AI (Business Today)

Forest City incentives will help attract international capital, says Anwar (The Edge)

Citaglobal secures RM47.6 mil road construction project in Terengganu (The Edge)

Asia Digital Engineering (ADE) poised to be Capital A's first business to be listed on Bursa - Fernandes (The Star)

Censof bags RM5.44m Perkeso contract for accounting system maintenance (The Edge)

Yenher acquiring RM18.6m feedmill equipment to boost animal feed production (The Edge)

Propel Global (PGB) Inks Deal With China State Construction Engineering Corporation (CSCEC) For Future Projects (Malaysian Reserve)

GDEX’s diversification into IT to improve efficiency of logistics, last mile delivery operations — CEO (The Edge)

Gamuda plans one-for-one bonus issue, posts higher 4Q net profit (The Edge)

HCK To Settle RM100 Million Debt Owed To Tan Sri Clement Hii Via Share Issuance (Business Today)

Reservoir Link partners Ad Terra to explore carbon capture projects (The Edge)

Sapura Energy anticipates forex losses (The Star)

Bursa To Suspend Lambo Effective October 4 With Possible De-Listing (Malaysian Reserve)

Thursday, 26 Sep 2024 Entitlement Announcement

6:32PM FIBON Final Dividend
6:31PM MNRB Final Dividend
6:30PM MNRB Special Dividend
6:17PM AEONCR Interim Dividend
6:01PM PTARAS First and Final Dividend
5:58PM ANNJOO Rights Issue
5:16PM SAMCHEM Second Interim Dividend
5:11PM BESHOM Final Dividend

[winston]

Market News on 30 SEPTEMBER 2024

Dow closes at record high as tame inflation report also lifts small caps (Investing.com)

Key Fed inflation gauge at 2.2% in August, lower than expected (CNBC)

China cuts short-term borrowing costs (Reuters)

China to cut existing mortgage rates by the end of October (CNBC)

Japan's incoming PM Ishiba calls for loose monetary policy (Inveting.com)

Bintai Kinden Prepares Comprehensive Regularisation Plan To Exit PN17 (Business Today)

Citaglobal Collaborates With German Company On Waste To Energy Technology (Business Today)

Powerwell Bags RM13.25 Million Contract For Data Centre Projects In Indonesia (Business Today)

Gamuda Secures RM702 Million Contract From Aula Energy Australia (Business Today)

Sarawak government raises stake in Affin Bank to 31% (The Star)

HeiTech Padu buys 30% stake in Islamic payment gateway owner Souqa Fintech for RM16.17m (The Edge)

Talam Transform plans five-to-one share consolidation, capital reduction and private placement (The Edge)

Signature to transfer two subsidiaries into new entity ahead of ACE Market IPO (The Edge)

PT Resources’s planned RM1 bil supply chain intelligent park in Kuantan called off (The Edge)

Propel Global (PGB) to raise up to RM8.25m via private placement, ups stake in EPCC subsidiary for RM6.19m (The Edge)

OB Holdings Set To Raise RM28.8 Million From Bursa Listing (Business Today)

KHPT Holdings IPO Shares Oversubscribed By 124 Times (Business Today)

Metro Healthcare inks underwriting deal with MIDF for transfer listing to ACE Market (The Edge)

Friday, 27 Sep 2024 Entitlement Announcement

6:54PM PTRB First Interim Dividend
6:14PM CRESNDO Special Dividend
6:14PM CRESNDO Interim Dividend
6:09PM KMLOONG Interim Dividend
5:16PM HLBANK Final Dividend

[winston]

Market News on 1 OCTOBER 2024

S&P 500 wraps up Q3 with big gains on further rate cuts hopes (Investing.com)

Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’ (CNBC)

China’s factory activity contracts less than expected in September — but shrinks for a fifth straight month (CNBC)

China property shares surge on easier home purchase rules, improved sentiment (Reuters)

TCS Secures RM116.58m Mixed Project From S P Setia (Business Today)

OCR Raises RM46.8 Million From Rights Issue With Warrants (Business Today)

Titijaya Secures Press Metal As First Customer For Its CLQ Project In Klang (Business Today)

AIZO Secures RM14.55 Million Infrastructure Contract From Richmont Estate (Business Today)

Critical Holdings (CHB) Secures Contract From US MNC Worth RM82 Million (Business Today)

DNeX Partners With Google Cloud To Enhance Digital Sovereignty In Malaysia (Business Today)

Epicon Acquires Concrete Empire For RM24.5 Million (Business Today)

AT Systematization Berhad To Rebrand As Erdasan Group Berhad (Business Today)

CelcomDigi in AI tie-up with SK Telecom (The Star)

Jati Tinggi (JTGROUP) secures RM50.87 mil underground cable installation job in Cyberjaya (The Edge)

Samaiden secures RM52m contract to build solar power plant in Sungai Petani (The Edge)

Crest Group IPO Balloting Resulted In Shares Oversubscribed By 73.88 Times (Business Today)

Monday, 30 Sep 2024 Entitlement Announcement

6:06PM ORIENT Interim Dividend
5:57PM JAYCORP Final Dividend
5:18PM HLFG Final Dividend
5:11PM HLCAP Final Dividend

[winston]

Market News on 2 October 2024

S&P 500 falls, Nasdaq drops 1% to start October as Middle East tensions intensify (CNBC)

US manufacturing steady in September; prices paid measure lowest in nine months (Reuters)

China and US To Hold Talks on Economic and Trade Issues (Business Today)

Crude oil spikes more than 5%, hits high of session after Iran fires at Israel (CNBC)

OPEC’s Crude Output Fell Sharply in September on Libyan Disruption (Bloomberg)

Malaysian manufacturing sector stays muted in September's PMI (The Star)

Malaysia To Lead ASEAN In AI Collaboration – Prime Minister (Business Today)

FAST Energy to buy remaining 30% in oil bunkering unit for RM18m (Malaysian Reserve)

Sunzen Biotech acquires 70% stake in Eye Nation Medical for RM6.4m (Malaysian Reserve)

P.A Resources Gets Zero-Tariff Rate From US Following An Anti-Dumping Proceeding (Business Today)

Samaiden Bags First RE Contract In Kedah, Eyeing 10% of CGPP’s RM2.4b Jobs (Business Today)

Aemulus gains full control of Chinese semiconductor firm, seeks new investors (Malaysian Reserve)

MMHE bags RM43m subcontract from Uzma for offshore unit conversion (Business Today)

LYC Healthcare to dispose of 55% stake in Elite Dental for RM6.5mil (The Star)

MISC inks shipbuilding contract for two LNG carriers, secures long-term charter with Petronas (The Edge)

Tanco gets unconditional nod from Marine Dept to develop container port in Port Dickson (The Edge)

Azam Jaya Inks Underwriting Agreement For Main Market IPO (Business Today)

Life Water inks underwriting agreement with MIDF Amanah for Main Market IPO (The Edge)

Tuesday, 1 Oct 2024 Entitlement Announcement

6:17PM XL Bonus Issue
5:28PM HIBISCS Final Dividend
5:28PM MYNEWS Interim Dividend

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Market News on 3 OCTOBER 2024

S&P 500 ends near flat as more jobs data awaited; eyes on Middle East (Reuters)

No signs of US labor market deterioration as job openings rebound (Reuters)

OPEC+ could cushion Iran oil shock but not broader disruption (Reuters)

US Imposes Duties on Solar Panels from Southeast Asia (Business Today)

Japan : Carry trade worth US$4 trillion begins to unwind (The Star)

Anwar Welcomes Oracle’s US$6.5 Billion Investment, Promises AI Innovation For Malaysia (Business Today)

Econpile Receives LOA For Piling and Sub-structure Works Worth RM33.3 Million (Business Today)

Second Large Scale Solar Photovoltaic (LSSPV) Win For Samaiden This One Worth RM39 Million (Business Today)

Critical Holdings (CHB) Secures RM82 Million Contract (Business Today)

Jentayu (JSB) Inks Project Development Collaboration Agreement with Sumitomo Corporation (Business Today)

ILB Group Berhad Renamed To NuEnergy Holdings Berhad (Business Today)

KIP REIT Unitholders Approve Asset Purchase And Private Placement Resolutions (Business Today)

MMAG triggers GN3 criteria but aims for waiver (Malaysian Reserve)

Sin-Kung Logistics expands into private jet and air freight services via Prima Air acquisition (The Edge)

Training services firm PEOPLElogy files for ACE Market IPO (The Edge)

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Market News on 4 OCTOBER 2024

Indexes end lower ahead of US jobs data, Middle East still in focus (Reuters)

US Services Activity Expands at Fastest Pace Since Early 2023 (Bloomberg)

U.S. crude oil jumps as Biden comments on possible Israel retaliation against Iran (CNBC)

China stimulus draws investors back to offshore bonds of troubled property sector (Reuters)

PM Ishiba says Japan not ready for rate hike after meeting BOJ governor (Reuters)

Budget 2025 to focus on economic sector and continue with structural reform agenda (The Star)

JS-SEZ To Benefit From Malaysia’s Inclusion In BRICS, Says Johor MB (Business Today)

Maybank Announces Strategic Collaboration with Bank of Hangzhou (Business Today)

Gamuda Joins State And Federal To Upgrade Paya Indah Wetlands Into Ecotourism Spot (Business Today)

Haily Deepens Johor Root On Upbeat Johor-Singapore Connection (Business Today)

Pertama Digital Says Unware For Reasons Behind Share Fall (Business Today)

DS Sigma gets SC nod for transfer to Main Market (The Star)

MPHB Capital's privatisation hits stumbling block (The Edge)

MyEG's blockchain developer launches digital ID verification for Chinese nationals (The Edge)

NH Foods ceases to be Lay Hong’s substantial shareholder (The Edge)

Atlan Holdings' units get compulsory land acquisition for road construction project in Bukit Kayu Hitam (The Edge)

Techna-X’s microalgae biofuel project scrapped (The Edge)

Harrisons proposes one-into-five share split (The Edge)

Thursday, 3 Oct 2024 Entitlement Announcement

5:10PM SEEHUP Interim Dividend

[winston]

Market News on 7 OCT 2024

Dow jumps 300 points for record close as September’s big jobs report spurs rally (CNBC)

Fed's Goolsbee calls jobs report 'superb,' still sees rate cuts ahead (Reuters)

China officials to brief on economic policy implementation Tuesday (Investing.com)

Oil settles up, biggest weekly gains in over a year on Middle East war (Reuters)

Anwar: Ringgit’s recent rise beneficial for Malaysia, but yet to reach fair value (Bernama)

Govt wants more local tech companies to expand their business in Malaysia — Gobind (Bernama)

OCR sues Kumpulan Jetson over alleged breach of RM88 mil construction contract (The Edge)

EG Industries buys 24% stake in Thai-based tyre maker for RM26 mil (The Edge)

S P Setia launches Atlas Melbourne mixed development project in Melbourne's CBD (The Edge)

Theta Edge Partners Nylex And Chinese Firms To Implement LRT, ART System In Johor (Business Today)

BFood (BJFOOD) Disposes Majority Stake In Vegan Ice-Cream Business (Business Today)

SDCG partners with Serikandi to expand solar solutions in Brunei (The Star)

HeiTech Padu says unaware of reason for unusual market activity as shares rally past RM4 for first time (The Edge)

YTL-Sea Digital Bank set for internal launch in coming weeks, public rollout in January 2025 (Business Today)

Velesto Energy Inks Three Year Deal With SLB On Digital Solutions (Business Today)

Artroniq gets extension till September 2025 to hold AGM (The Star)

Nova Wellness Receives MOH Approval For New Liver Drug (Business Today)