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

[winston]

Market News on 22 January 2025

Dow surges 500 points as investors bet that Trump’s approach on tariffs won’t be as harsh as feared (CNBC)

Trump to announce up to $500 billion in AI infrastructure investment, sources say (Reuters)

Trump says he’s considering 10% tariff on China beginning as soon as Feb. 1 (CNBC)

Trump says he’s thinking of imposing 25% tariffs on Canada and Mexico in February (CNBC)

Trade war has no winners, China’s vice premier warns, as Trump threatens tariffs (CNBC)

China is not seeking a trade surplus, vice premier says (Reuters)

Johor-Singapore Special Economic Zon is one of a kind, phenomenal — Anwar (The Edge)

KTI Accepts LOI To Build 5000 Affordable Homes In Sabah (Business Today)

Taghill Secures RM58 Million Contract To Erect 18 Storey Hotel In Ipoh (Business Today)

WCE To Commence Tolling Of Section 2 Of West Coast Expressway (Business Today)

Keyfield Completes Solar PV Project Onboard Its Largest Work Barge (Business Today)

Pansar Accepts Contract For Dual Carriage Highway Worth RM477.6 Million (Business Today)

KJTS gets facility management services contract at Marlborough College Malaysia (Malaysian Reserve)

FSBM forms alliance to revolutionise Southeast Asia’s manufacturing sector (Malaysian Reserve)

Maxland diversifies into automotive and utility infrastructure sectors (Malaysian Reserve)

Kein Hing (KEINHIN) sets new subsidiary in Vietnam for manufacturing expansion (Malaysian Reserve)

Ann Joo ordered to pay Amsteel Mills RM11.98m over supply contract dispute (The Edge)

YNH to sell AEON Mall Seri Manjung to Sunway REIT for RM138m (The Edge)

Zecon partners Sabah Islamic Religious Council for housing project (The Edge)

RichTech To Raise RM13.7 Million From ACE Market IPO (Business Today)

Saliran Inks Underwriting Agreement With Malacca Securities For IPO Exercise (Business Today)

Tuesday, 21 Jan 2025 Entitlement Announcement

6:41PM SCNWOLF Coupon Payment
5:31PM KIPREIT Income Distribution
5:25PM UOAREIT Income Distribution

[winston]

Market News om 23 January 2025

S&P 500 hits record high with boost from Netflix results, AI investment plan (Reuters)

Trump threatens Russia with sanctions, tariffs if Putin doesn’t end Ukraine war (CNBC)

Jamie Dimon says Trump’s tariff policy is positive for national security so people should ‘get over it’ (CNBC)

Global Tariffs To Peak By End Of 2025, Says Moody’s Analytics (Business Today)

Bank Negara keeps OPR at 3% (The Star)

OPR continues to be supportive of the economy - Bank Negara governor (The Star)

EXIM Bank sues Power Root for RM7.4m over alleged loan default (Malaysian Reserve)

GDA defends legality of revised MAHB takeover terms, citing SC compliance (Malaysian Reserve)

OB Holdings Partners CTG Group To Boost Youth Innovation And Employment (Business Today)

CapitaLand Malaysia Trust (CLMT) continues pursuit for industrial, logistic assets (The Edge)

SC denies Jentayu(JSB)’s extension bid to complete acquisitions of RE firms (The Edge)

TechStore Aims To Raise RM25 Million From ACE Market Listing (Business Today)

Northern Solar Saw Its IPO Oversubscribed By 73 Times (Business Today)

Wednesday, 22 Jan 2025 Entitlement Announcement

6:20PM SENTRAL Income Distribution
5:57PM YINSON Third Interim Dividend (with Dividend Re-Investment Plan)
5:35PM BESHOM Interim Dividend
5:08PM AMEREIT Income Distribution
5:05PM ZHULIAN Fourth Interim Dividend
1:00PM SCNWOLF-LA Coupon Payment

[winston]

Market News on 24 January 2025

S&P 500 closes at a new record, Dow jumps 400 points as Trump pushes for low rates, oil (CNBC)

Trump demands Fed cut rates, claims better monetary policy understanding (Reuters)

China prods insurers to invest billions in latest move to support markets (Reuters)

Oil turns lower after Trump says he’ll ask Saudi Arabia and OPEC to bring the price down (CNBC)

Malaysia’s property market entering upcycle, says Knight Frank (The Sun)

SC Says Closely Monitoring Certain High Profile Take-Over (Business Today)

Luckin Coffee Makes Malaysian Debut With Two Stores In Klang Valley (Business Today)

Censof Awarded RM4.3 Million GRP System Implementation By KWAP (Business Today)

Citaglobal Wins Kuching Urban Transportation System Jobs Worth RM36.3 Million (Business Today)

MRCB Inks Deal With Ipoh Sentral On Potential RM6.25 Billion GDV Project (Business Today)

Knusford’s unit named as fourth-party defendant in lawsuit filed by Tenaga Nasional (Malaysian Reserve)

ACME acquires 50% stake land holder for RM22.4m (Malaysian Reserve)

T7 Global bags five-year contract from HESS for Pan-Malaysia offshore services (Malaysian Reserve)

SC Estate Builder to sell Kedah land for RM5.5m to fund RE projects (Malaysian Reserve)

Econframe buys Ipoh-based wooden doors maker for RM56 mil (The Edge)

Unitrade Industries' unit buys controlling stake in metal recycler Kien San for RM42 mil (The Edge)

YTL Corp, YTL Power plan free warrants; exercise prices at discount to market prices (The Edge)

Sime Darby Property secures five anchor tenants for KLGCC Mall (The Edge)

Thursday, 23 Jan 2025 Entitlement Announcement

7:05PM GAMUDA First Interim Dividend (with Dividend Re-Investment Plan)
6:35PM SEG First Interim Dividend
5:29PM SPRITZER Bonus Issue
5:23PM HEKTAR Income Distribution
5:22PM IGBREIT Income Distribution
5:14PM IGBCR Income Distribution
5:10PM CVIEW Fourth Interim Dividend
5:08PM TOPGLOV-C4W Adjustment
12:38PM WPRTS Second Interim Dividend

[winston]

Bursa Malaysia to close Jan 29-30 for Chinese New Year

Market News on 27 JAN 2025

Wall St slips with mixed data and earnings ahead of Fed week (Reuters)

China Boosts Index Investments in Latest Bid to Revive Market (Bloomberg)

Trump once again calls for OPEC to drop oil prices (Reuters)

Moody’s Reaffirms Malaysia’s A3 Credit Ratings, To Be Fastest Growing A-rated Economy In Next 2 Years (Business Today)

Bank Negara to keep OPR steady; growth forecast at 4.6% (The Star)

Gamuda-Ferrovial JV lands early role in Australian hydroelectric storage project (The Edge)

MRCB forms JV with Melaka Corp for RM520m hospital project (The Edge)

Willowglen lands RM6.5m security system contract (The Malaysian Resereve)

TMC Life Sciences issues profit warning due to contract issues (The Edge)

Asia Poly secures technical expertise for 10MW hydropower plant with Gezhouba Engineering (The Malaysian Reserve)

Vsolar to acquire 1.3MW solar PV system for RM3m (The Malaysian Reserve)

Econframe acquires Ivory Pearl for RM56m to expand into UK and Australia (The Malaysian Reserve)

Scientex buys Melaka land from Genting Plantations for RM333 mil cash (The Edge)

MYEG To Develop Blockchain-Powered MyDigital ID Superapp (Business Today)

Taghill clinches RM152 mil mixed-development project in Pahang (The Edge)

TCS sees emergence of new substantial shareholder with 11.9% stake as MD trims shareholding (The Edge)

Chin Hin raises Ajiya stake by 12.27% to 66.4% for RM54.2 mil (The Edge)

ICT Zone Asia gets greenlight for ACE Market transfer (The Edge)

Friday, 24 Jan 2025 Entitlement Announcement

7:44PM ABFMY1 Income Distribution
7:22PM FBMKLCI-EA Income Distribution
7:06PM CENGILD Interim Dividend
6:34PM ATRIUM Income Distribution
5:59PM CETECH First Interim Dividend
5:54PM CAB Final Dividend
5:41PM PANTECH Third Interim Dividend
5:39PM HARNLEN Interim Dividend
5:26PM ALSREIT Income Distribution
5:25PM ALAQAR Income Distribution
12:56PM DSONIC Bonus Issue

[winston]

Happy Reunion Dinner

Market News on 28 JAN 2025

Nasdaq drops 3% as China's DeepSeek AI model hits tech shares (Reuters)

DeepSeek sparks global AI selloff, Nvidia losses about $593 billion of value (Reuters)

Nvidia says DeepSeek advances prove need for more of its chips (Reuters)

PBOC Injects Record Liquidity Using Its New Tool, Delays RRR Cut (Bloomberg)

Bursa Confirms Appointment Of Dato Fadl As New Chief Executive Officer (Business Today)

Catcha Digital eyes diversifying into IT solutions, following acquisition of 51% stake in SaaS provider (The Edge)

NationGate hits three-month low as investors weigh China’s AI push (The Edge)

REDtone surfaces as Theta Edge’s second-largest shareholder (The Edge)

Crescendo sells third parcel to Microsoft for RM119.8 mil in Johor (The Edge)

Solarvest to buy 30% stake in electrical works outfit for RM15 mil cash (The Edge)

Solarvest Inks Partnership To Supply Large Energy Into Vietnam’s Grid (Business Today)

Symphony Life emerges as Vizione’s largest shareholder in RM12m deal (The Edge)

Salutica plans RM11.9m private placement to fund capex, working capital (The Edge)

Deadline for AAX takeover of Capital A’s aviation biz extended by two months to March 24 (The Edge)

YNH Property expects independent review of JV and turnkey contracts to be completed by Feb 15 (The Edge)

Ekovest extends unit merger talks with Knusford for six more months (The Edge)

Icon Offshore Shareholders Approve Acquisition And Renaming As Lianson Fleet (Business Today)

MMAG buys second Boeing B737-400SF (The Malaysian Reserve)

AppAsia inks MoU to develop electronic bank confirmation platform in Pakistan (The Malaysian Reserve)

ACE Market-bound ES Sunlogy aims to raise RM42mil via IPO (The Star)

Monday, 27 Jan 2025 Entitlement Announcement

5:52PM CLMT Income Distribution (with Dividend Re-Investment Plan)
5:50PM DXN Third Interim Dividend
12:44PM BURSA Special Dividend
12:42PM BURSA Final Dividend

[winston]

Market News on 3 February 2025

Dow futures drop 500 points after Trump hits Canada, Mexico and China with tariffs (CNBC)

Trump’s 25% tariffs on Mexico and Canada to challenge the global auto industry (CNBC)

Key Fed measure shows core inflation at 2.8%, in line with expectations (CNBC)

Trump and Nvidia CEO discuss DeepSeek, AI chip exports during meeting, source says (Reuters)

Trump Threatens 100% Tariff On BRICS Nations Over New Currency Plans (Business Today)

Trump says tariff may cause short-term disruption (Reuters)

Govt Could Consider Adjusting Minimum Wage Levels Based On Region (Business Today)

KWAP Disposes Over 1 Million Shares In KPJ Healthcare (Business Today)

Cypark’s Kelantan 60 MWac Floating Solar Plant Now Fully Delivers To The Grid (Business Today)

Lebtech Awarded Housing Job Worth RM21 Million By Brighton Land (Business Today)

Lembaga Tabung Haji emerges as substantial shareholder of Focus Point (The Edge)

Compugates to jointly develop Cyberjaya land into RM1.36 bil GDV project (The Edge)

DXN scraps plans to develop medicine facility and wellness centre (The Edge)

Weststar Signs US$40 Million Helicopter Service Contract In Timor-Leste (Business Today)

TechStore Assigned 80% Premium Over IPO Price (Business Today)

[winston]

Market News on 4 February 2025

Dow rebounds from steep decline to finish with 100-point loss after Trump pauses tariffs on Mexico (CNBC)

Trump pauses tariffs on Canada imports for 30 days after doing the same for Mexico (CNBC)

Trump warns China of higher tariffs ahead of talks (Investing.com)

Trump tariffs could raise medication costs and exacerbate shortages, drug trade groups warn (CNBC)

Trump Reaffirms EU Tariff Plan, No Timeline Given (Business Today)

US manufacturing rebounds, tariffs could derail tentative recovery (Reuters)

Foreign funds exit Bursa Malaysia with weekly net sale of RM503.3mil in equities (TheStar)

SD Guthrie (SDG) Acquires 48% Stake In Dutch Firm Marvesa For RM250 Million (Business Today)

KJTS To Acquire Malakoff Utilities For RM65.5 Million (Business Today)

AZRB Awarded Bridge Project In Pahang Worth RM63.5 Million (Business Today)

EPF Disposes 3 Million YTL Corp Shares (Business Today)

Steel Hawk Secures Contract Extension From Petronas Carigali (Business Today)

Harrisons awards RM28m contract for warehouse construction (Malaysian Reserve)

AMMB cancels RM1.12b sale of insurance units to Great Eastern (Malaysian Reserve)

Cahya Mata Sarawak (CMSB) initiates arbitration against Vienna Advantage over contract dispute (The Edge)

US-based logistics firm AGS acquires 15% stake in KGW (The Edge)

HCK Capital director Tiong Tak Chong emerges as substantial shareholder (The Edge)

Baker Tilly resigns as external auditor of LYC Healthcare over audit fees (The Edge)

Maxland leases more Kulim High-Tech Park land, this time for district cooling system venture (The Edge)

Aquaria KLCC operator seeks ACE Market listing, confirms The Edge report (The Edge)

SPB Development Issues 278.4 Million Shares For Main Market Listing (Business Today)

Monday, 3 Feb 2025 Entitlement Announcement

6:20PM SUNREIT Income Distribution
5:31PM SSB8 Interim Dividend

[winston]

Market News on 6 February 2025

Wall St ends higher as investors digest earnings, rate cut prospects (Reuters)

Record high imports pressure US trade deficit (Reuters)

Fed officials are raising concerns about the impact Trump’s tariffs could have on inflation (CNBC)

China launches WTO dispute over Trump tariffs (Reuters)

Oil down as US crude inventories swell, traders worry about China-US trade (Reuters)

World Bank: Tax reforms will help reduce inequality in Malaysia (The Star)

CapitaLand To Acquire Industrial Properties Near Senai Airport For RM72 Million. (Business Today)

Gamuda Partners PKNPk To Address Critical Water Shortages In Northern Perak (Business Today)

ITMAX’s Subsidiary Appointed As Smart Parking Operator In Pontian (Business Today)

TM Eyes Second 5G Infrastructure Partnership (Business Today)

Solarvest forms partnership to accelerate RE adoption in Vietnam (Malaysian Reserve)

Ge-Shen dispose of five properties for RM35m to streamline operations (Malaysian Reserve)

YTL Corp’s SGX-listed unit NSL gets four-month extension to address public shareholding spread (The Edge)

Wednesday, 5 Feb 2025 Entitlement Announcement

5:21PM KLCC Income Distribution
5:08PM KLCC Fourth Interim Dividend
12:40PM GESHEN Interim Dividend

[winston]

Bursa Malaysia to close on Feb 11 for Thaipusam

Market News on 7 February 2025

Wall Street ends mixed in choppy trading; Amazon, jobs report in focus (Reuters)

Amazon beats revenue estimates, but cloud growth, sales expectations lag (Reuters)

US weekly jobless claims edge up; worker productivity growth slows (Reuters)

IMF says it's too early to gauge impact of US foreign aid cuts, tariffs (Reuters)

Trump's tariffs have minimal negative impact on semiconductor exports to the US at this time - Miti (TheStar)

China says will protect its own interests in face of U.S. ‘bullying’ (CNBC)

Influenza Cases In Malaysia Remains Under Control: MOH (Business Today)

MOF Addresses Insurance Premium Hike And Healthcare Costs (Business Today)

Winding Up Petition On Bina Puri Due To Default In Interest Payment To EXIM Bank (Business Today)

Zecon Forms Partnership With Petrosabah On Potential Solar Project (Business Today)

Icon Offshore Changes Name To Lianson Fleet (Business Today)

IHH Healthcare seeks up to RM5.7b in compensation in Fortis stake dispute (Malaysian Reserve)

MN Holdings and Intelligent Pie ends MoU due to lack of successful tenders (Malaysian Reserve)

TWL granted interim stay order in RM36m tax dispute (Malaysian Reserve)

Pentamaster’s Hong Kong unit expected to be delisted on March 19 (The Edge)

Gamuda emerges in water infrastructure play (The Star)

Scomi Energy to be delisted on Feb 12 (The Star)

Strong Interest In TechStore With IPO Oversubscribed By 96.66 Times (Business Today)

Thursday, 6 Feb 2025 Entitlement Announcement

6:07PM BAT Interim Dividend

[winston]

Market News on 10 FEB 2025

Dow closes 400 points lower Friday as inflation and tariff fears spur a sell-off (CNBC)

US job growth slows in January; unemployment rate at 4.0% (Reuters)

Trump says he will announce reciprocal tariffs on many countries next week (Reuters)

Trump says he will announce 25% steel and aluminum tariffs on Monday (Reuters)

China’s consumer inflation at 5-month high, producer deflation persists (CNBC)

Malaysia's Industrial Production Index (IPI) up 4.6% in Dec 2024 (The Star)

Establishment Of An ASEAN Stock Exchange Could Drive Robust Growth For The Region (Business Today)

Kinergy Advancement buys stake in operator of redeveloped 650MW power plant (The Edge)

Teladan Setia bins Melaka land purchase for wellness centre and apartments project (The Edge)

Theta Edge to raise RM46 mil via new share issuance; Threadstone Capital to become largest shareholder (The Edge)

YNH says RM138m sale of AEON Mall Seri Manjung is subject to shareholders’ approval (The Edge)

NPC Resources' major shareholders propose privatisation at RM2.82 per share (TheStar)

Perak Corp partners private firm for mixed development project (The Edge)

EG Industries proposes one-for-one bonus issue (The Edge)

Sarawak grants Zecon 30-year solar power generation licence (The Star)

Friday, 7 Feb 2025 Entitlement Announcement

5:16PM MATRIX Bonus Issue