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

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Market News on 6 JANUARY 2025

Wall Street ends sharply higher with assist from tech; investors eye Trump policies (Reuters)

Foxconn beats estimates with record fourth-quarter revenue on AI demand (Reuters)

US manufacturing PMI rises to nine-month high, but challenges loom (Reuters)

Fed's Kugler, Daly say job not done on inflation (Reuters)

China will sharply increase funding from treasury bonds to spur growth in 2025 (Reuters)

China’s central bank says it will cut banks reserves, rates at proper time (Reuters)

Global chip demand expected to grow 11.2% to record US$697b in 2025 — World Semiconductor Trade Statistics (The Edge)

Johor-Singapore Special Economic Zone agreement to be signed on Monday, says MB (The Edge)

VS Industry Optimistic With Healthy Demand Outlook And Philippines Venture (Business Today)

PEB secures five-year offshore services contract from PETRONAS Carigali (The Star)

Yayasan Pelaburan Bumiputra now owns Ekuinas' substantial stake in Icon Offshore (The Edge)

Velocity Capital's new largest shareholder Fam Chee Way joins its board as ED Tan Yip Jiun resigns (The Edge)

Asia Internet, private vehicle of MyEG’s TS Wong, ceases to be substantial shareholder of Cuscapi (The Edge)

Friday, 3 Jan 2025 Entitlement Announcement

6:36PM CYL Interim Dividend

[winston]

Market News on 7 January 2025

S&P 500, Nasdaq post back-to-back gains on Monday as Nvidia shares rise (CNBC)

Chip firms surge on hopes of strong AI-led demand (Reuters)

Trump reportedly considering important alteration to tariff plans (CNBC)

China's export ban to push antimony prices to new highs (Reuters)

OPEC Output Dips in December as UAE Improves Delivery of Cuts (Bloomberg)

Kitacon Awarded RM65.6 Million Bungalow Project By KLK (Business Today)

MAHB Takeover Reaches 75.7% (Business Today)

MAHB takeover offer deadline extended to Jan 17 (The Star)

Keyfield to acquire platform supply vessel for RM79mil (The Star)

Aizo Group shortlisted to develop 99.99 MW LSS plant in Perak (The Star)

Ni Hsin EV Tech gets conditional nod for token crowdfunding campaign on pitchIN’s platform (The Sun Daily)

Kerjaya Prospek lands RM256m contract for development in Elmina West (Malaysian reserve)

Leong Hup secures court stay on MyCC’s RM415.5m penalty for price-fixing (Malaysian reserve)

D&O, Hirain join forces for automotive modules business expansion (Malaysian reserve)

Toyo Ventures issues dispute notice to Vietnamese govt over power plant termination (The Edge)

Ecobuilt's auditor flags going concern doubt as it expresses qualified opinion on FY2024 statements (The Edge)

Handal Energy says JV deal with Hadid Oil terminated (The Edge)

XOX Networks proposes share capital reduction to eliminate losses (The Edge)

Citaglobal acquires 55% stake in waste-to-energy partner LAWI Germany for undisclosed value (The Edge)

Rexit says no data breaches found in cybersecurity audit (The Edge)

T7 Global secures maintenance, construction and modification services contract (The Edge)

CBH Engineering’s IPO shares for public oversubscribed by 34 times (The Edge)

ACE-Market Bound Wawasan Dengkil Inks Underwriting Agreement With M&A Securities (Business Today)

ACE Market-bound Oriental Kopi to raise RM184 mil, sets IPO price at 44 sen (The Edge)

[winston]

Market News on 8 January 2025

Dow falls more than 170 points, Nasdaq loses nearly 2% as Nvidia leads tech sell-off (CNBC)

10-year Treasury yield jumps after economic data points to sticky inflation (CNBC)

Trump announces $20 billion foreign investment to build new U.S. data centers (CNBC)

Trump wants to extend US debt ceiling, says he doesn't want to see a default (Reuters)

Trump says he will revoke Biden offshore drilling ban immediately (Reuters)

Malaysia To Impose Up To 37% Duty On Polyethylene Terephthalate (PET) Exported From China, Indonesia (Business Today)

The Johor-Singapore Special Economic Zone Agreement Pivotal For Regional Growth (Business Today)

Anwar: KL-Singapore HSR Project Can Be Revived With Full Private Participation (Business Today)

Nestcon Awarded Senai Airport Earthwork Worth RM25 Million (Business Today)

Berjaya Rail Signs Deal With ST Engineering On Future Rail Projects (Business Today)

UUE Lands Two Contracts Worth RM36.5 Million For Laying TNB Cables (Business Today)

George Kent Transforms Smart Metering With Telecommunications Technology Breakthroughs (Business Today)

Swift Haulage To Establish Cold Chain Network With SCGJWD (Business Today)

Cypark Achieves Commercial Operation Date For Danau Tok Uban 2 (Business Today)

Itmax System wins RM12m CCTV upgrade contract with Penang City Council (Malaysian Reserve)

Infomina bags RM22m contract with RTD for Awas system support (Malaysian Reserve)

SMI acquirer secures further extension for takeover offer documentation (The Edge)

MN Holdings major shareholders sell shares as price soars to record high (The Edge)

Coastal Contracts forms renewable energy subsidiary for Asia-Pacific projects (The Edge)

KUB Malaysia acquires buildings materials firm from CI Holdings for RM20m cash (The Edge)

EA Technique to get payoff from Petronas to settle vessel lease dispute (The Edge)

IWCity open to future collaborations with Melia Hotels International (The Star)

Tuesday, 7 Jan 2025 Entitlement Announcement

5:45PM TWL-LA Coupon Payment

[winston]

Market News on 9 January 2025

S&P 500 ekes out narrow gain as investors shake off Fed’s inflation warning (CNBC)

Fed officials are worried about the inflation impacts from Trump’s policies, minutes show (CNBC)

Treasury yield surge reflects expectations of more long-term debt (Reuters)

China inflation lands amid global bond turmoil (Reuters)

Reservoir Link Associate Awarded RM20 Million Contract To Build Floating Solar Farm (Business Today)

AEON granted conditional stay in RM18.68m dispute with AZRB (Malaysian Reserve)

HSS Engineers to develop 95MW solar plant in Perak (Malaysian Reserve)

Samaiden set for growth with new solar projects (Malaysian Reserve)

MClean Technologies raises RM13.2mil through private placement (The Star)

Khazanah-EPF-led consortium amasses 84% stake in MAHB, seven working days left to meet 90% condition (The Edge)

Annum parts ways with auditor who couldn't vouch for company's financials, appoints new one (The Edge)

Edaran plans RM52 mil share capital reduction to eliminate losses (The Edge)

Erdasan Group, formerly AT Systematization, proposes share capital reduction to wipe out losses (The Edge)

UUE Holdings directors sell RM30m worth of shares (The Edge)

Pantech Global inks underwriting agreement with Alliance Islamic Bank for Main Market IPO (The Edge)

Lim Seong Hai, Fibromat get Bursa nod for transfer to ACE Market (The Edge)


Wednesday, 8 Jan 2025 Entitlement Announcement

6:36PM KLK Final Dividend (with Dividend Re-Investment Plan)

[winston]

Market News on 13 JAN 2025

Dow tumbles nearly 700 points Friday as strong jobs report casts doubt over Fed’s rate-cut path (CNBC)

Jobs report fuels Treasury yield surge as markets brace for 5% threshold (Reuters)

IMF chief sees steady world growth in 2025, continuing disinflation (Reuters)

Crude prices jump as U.S. imposes sweeping sanctions against Russia oil industry (CNBC)

Govt Wont Tolerate If Insurance Premium Are Raised Without Justification (Business Today)

Malaysia's palm oil exports slip 9.97% to 1.34mil tonnes in Dec - MPOB (The Star)

Sime Darby Property Acquire Logistics Warehouse For RM232 Million (Business Today)

Berjaya's Vincent Tan seeks new partner in KL-Singapore HSR bid (Bloomberg)

Ho Hup gets another winding-up petition over alleged outstanding payment (The Edge)

Uzma bags RM100m contract extension from Petronas Carigali (The Edge)

IRB drops RM7.9 mil tax claim against Kumpulan Perangsang Selangor (The Edge)

Metronic bags RM31m job to supply instrumentation systems for Sg Rasau Water Supply Scheme project (The Edge)

Key Alliance (KGROUP) proposes capital reduction to erase RM101.5m in losses (The Edge)

Friday, 10 Jan 2025 Entitlement Announcement

5:07PM REXIT Interim Dividend

[winston]

Market News on 14 JAN 2025

Dow adds more than 350 points, but Nasdaq closes lower as investors rotate out of tech (CNBC)

US tightens its grip on AI chip flows across the globe (Reuters)

China’s imports post surprise growth in December; exports beat expectations as higher tariffs loom (CNBC)

China flags more policy measures to bolster yuan (Reuters)

Malaysia imposes anti-dumping duties on iron, steel imports from 4 countries (The Star)

YTL Power ‘confident’ not affected by potential US chip export curbs amid Nvidia partnership (The Edge)

Gamuda gets first package worth over RM8 bil of Penang LRT project (The Edge)

Guan Chong firms deal to acquire stake in Ivory Coast cocoa firm for RM130 mil cash (The Edge)

Bursa reclassifies 13 companies as it introduces new renewable energy subsector (The Edge)
https://theedgemalaysia.com/node/740828

Yinson Nears Deal With Investors Including Abu Dhabi for RM4.5 Billion Funding (Business Today)

EPF Acquires 6 Million YTL Corp Shares (Business Today)

Infomina secures technology services order from Hong Kong-based firm (The Edge)

Solarvest buys land for RE projects in Kedah for RM19.9 mil (The Edge)

Sapura Energy secures second approval-in-principle for debt restructuring exercise (The Edge)

Eden picked to develop 29.99MW solar plant in Kuantan (The Edge)

Xin Hwa subsidiary resumes operations after license suspension (The Star)

Premix soup maker A1 AK Koh Group files draft prospectus for ACE Market listing (The Edge)

Cheeding Holdings files draft prospectus for ACE Market listing (The Edge)

Monday, 13 Jan 2025 Entitlement Announcement

5:38PM ULICORP Interim Dividend
5:34PM JAKS First Interim Dividend (with Dividend Re-Investment Plan)

[winston]

Market News on 15 JAN 2025

Dow rises more than 200 points on Tuesday after wholesale inflation report comes in light (CNBC)

US Wholesale Inflation Surprisingly Eases on Drop in Food Prices (Bloomberg)

US inflation still slowing as producer prices rise below expectations in December (Reuters)

Beijing regulator vows efforts to stabilise market (TheStar)

Oil Glut Will Expand in 2026 as OPEC Output Rebounds, EIA Says (Bloomberg)

BMI expects Malaysia's economy to be resilient in 2024 at 5.0% (The Star)

MPOB: Malaysia’s Palm Oil Exports Set To Grow To 17.3 Million Tonnes In 2025 (Business Today)

MOF approves digital banking license to YTL Digital Bank (TheStar)

Yinson secures US$1b investment from Abu Dhabi consortium (The Edge)

Mah Sing Confident Data Centre Project Will Proceed Despite US AI Chip Rules (Business Today)

Theta Edge calls off JV agreement to develop AI, blockchain solutions (The Edge)

Chiew Ho Foundation buys stake in AYS (TheStar)

Kawan Food bins IT equipment JV after failed talks (The Edge)

Overhead crane firm Powertechnic files draft prospectus for ACE Market IPO (The Edge)

Oriental Kopi IPO oversubscribed by 59.96 times (The Star)

Tuesday, 14 Jan 2025 Entitlement Announcement

5:19PM ATLAN Third Interim Dividend

[winston]

Market News on 16 JAN 2025

Dow surges 700 points, S&P 500 posts best day since November after tame inflation report (CNBC)

U.S. core inflation rate slows to 3.2% in December, less than expected (CNBC)

Chip industry groups slam expected rules in private letter to Biden (Reuters)

EU Considers Gradual Ban On Russian LNG And Aluminium (Business Today)

Oil rises on US crude draw, Russia sanctions (CNBC)

Gamuda, Castleforge break ground for £1.2 bil redevelopment project in London (The Edge)

Khazanah-EPF consortium extends deadline for MAHB (AIRPORT) takeover bid again to Jan 24 now (The Edge)

Uzma launches high-resolution earth observation satellite (The Star)

Exsim Group enters JV agreement with Liew Yin Yin Group to develop Ipoh serviced apartment project (The Edge)

Southern Score Builders (SSB8) secures RM78mil detention pond project in KL (The Star)

SC Estate Builder consortium wins contract to develop 4MW solar project in Perlis (The Edge)

Sunview to explore developing off-grid solar power plant in Chuping (The Edge)

Titijaya sees growing demand for transit-oriented development, affordable homes in 2025 (The Star)

KJTS inks JV with Singapore firm to operate cooling and mobile facility maintenance services (The Edge)

Fajarbaru now called 'FBG' (The Star)

Colform Aims To Raise RM41 Million From ACE Market Listing (Business Today)

[winston]

Market News on 20 January 2025

Dow surges more than 300 points, S&P 500 posts best week since period following Trump’s election (CNBC)

US Treasury to launch measures to avoid debt limit breach on Tuesday (Reuters)

Fed's Hammack says inflation remains a problem, WSJ reports (Reuters)

IMF says China's economic growth of 5% in 2024 was 'positive surprise' (Reuters)

World Bank warns that US tariffs could reduce global growth outlook (Reuters)

Energy Ministry To Open Bidding For Large Scale Solar (Business Today)

U Mobile to roll out 5G in 15-18 months, IPO by end of 2025 (The Star)

Ramssol Launches Full Digital Platform For Trading Used Motorcycles (Business Today)

Datasonic Secures ICT Job From Home Ministry Worth RM6 Million (Business Today)

Homeritz To Suffer RM3 Million Loss Due To Uninsured Warehouse (Business Today)

HeiTech Padu Secures RM28 Million Contract Extension From Immigration Dept (Business Today)

Mitrajaya Bags Data Centre Main Work Contract Worth RM375 Million (Business Today)

Southern Score (SSB8) Completes 51% Stake Acquisition In SJEE For RM23 Million (Business Today)

Court Orders Salutica Berhad (SALUTE) Pay Apple Malaysia RM1.2 Million (Business Today)

IHH Included In FTSE4Good Index For The First Time (Business Today)

JF Tech boss sees water infrastructure potential in Cosmos as he becomes second-largest shareholder (The Edge)

Malaysia lifts suspension of bird’s nest exports to China after nearly one month, says MYMBN (The Edge)

Zecon signs REPPA with UKM for first solar PV project at Hospital Tunku Ampuan Besar (The Star)

Friday, 17 Jan 2025 Entitlement Announcement

6:34PM PANTECH Offer for Sale
5:19PM TALAMT Share Consolidation

[winston]

Market News on 21 January 2025

Stock futures rise as Trump sworn in as president with regular trading closed (CNBC)

No day-one tariffs but Trump plans trade overhaul, official says (Reuters)

Trump says he will declare national energy emergency, revoke electric vehicle ‘mandate’ (CNBC)

China keeps lending rates unchanged as it contends with a weakening yuan (CNBC)

Malaysia’s 2024 Trade Grew 9.2% To RM2.87 Trillion (Business Today)

Fajarbaru Signs Deal With PDC For The 235.8 Acre Development Of Medi-City In Batu Kawan (Business Today)

UUE Wins TNB Contracts Worth RM27.5 Million (Business Today)

SkyWorld diversifies into prefabrication for RM13b Penang project (Malaysian Reserve)

MAHB takeover acceptance lowered to 85%, deadline pushed to Feb 4 (Malaysian Reserve)

Datasonic To Continue Supplying Malaysian Passports In Deal Worth RM150 Million (Business Today)

TDM bags construction job worth RM72mil (Malaysian Reserve)

Tex Cycle partners with Xantara for scheduled waste management (The Star)

Maxland inks deal with GDC Data for data centre development collaboration (The Edge)

Scanwolf MD-linked vehicle triggers mandatory takeover offer, intends to maintain listing(The Edge)

Timber outfit WTK reports fire in Penang tape factory, financial impact ‘not expected to be substantial’ (The Edge)

7-Eleven Malaysia (SEM) to set up 100 Seven Bank cash recycling machines at its outlets (The Edge)

Monday, 20 Jan 2025 Entitlement Announcement

6:57PM TWRREIT Income Distribution