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

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Market News on 8 OCT 2024

Dow closes lower by nearly 400 points as surging oil prices, rising Treasury yields weigh on stocks (CNBC)

US Bond Selloff Deepens as Wagers on Half-Point Rate Cut Crumble (Bloomberg)

U.S. crude oil jumps more than 3%, closes above $77 as market waits for Israel strike against Iran (CNBC)

Foreign funds net sell Malaysian equities as rotation into China's market continues (The Star)

ITMAX secures 15-year smart parking contract in Muar (The Edge)

Infomina Collaborate With PEPS Malaysia For Corporate Transparency, Financial Inclusion (Business Today)

Ramssol inks addendum agreement with Singapore-based company for AI-driven HR solutions (The Edge)

Syed Mokhtar-linked firm exits Media Prima after offloading 31.9% stake (The Edge)

HeiTech Padu aborts Souqa Fintech deal less than two weeks after agreement (The Edge)

Tuju Setia's JV company bags RM318 mil construction job (The Edge)

Kumpulan Jetson Claims Not Liable For Suit Filed By OCR (Business Today)

Dayang bags accommodation work boat contracts from Petronas Carigali (The Edge)

Uzma secures commercial operation date for 50MW solar farm in Kedah (The Edge)

Ge-Shen’s proposed acquisition of Local Assembly is fair and reasonable, says independent adviser (The Edge)

Sapura Resources places MD on leave of absence since Sept 11 (The Malaysian Reserve)

ACE Market-bound Sorento Capital sets IPO at 37 sen a share to raise up to RM84.7m (The Edge)

Security seals maker Mega Fortris inks underwriting agreement for Main Market IPO (The Edge)

Monday, 7 Oct 2024 Entitlement Announcement

5:14PM EIG Final Dividend

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Market News on 9 OCT 2024

Wall Street closes higher on tech buying as investors wait on inflation data (Reuters)

Fed's Collins expects more rate cuts amid confidence inflation is easing (Reuters)

World Bank Revises Up CN Econ Growth Forecast to 4.8% for 2024, 4.3% for 2025 (AAstocks)

Oil Plunges After Torrid Rally as China Holds Back New Stimulus (Bloomberg)

The Energy Commission (EC) to announce winning bids for LSS5 in November, says CEO (The Star)

Trading in Public Bank, LPI securities to be halted on Wednesday pending material announcement (The Edge)

Sime Darby partners BYD to bring Denza EVs to Malaysia (The Edge)

Perdana Petroleum bags two related-party work orders to provide accommodation workboat (The Edge)

Sunsuria Signs Deal To Establish Concord International Schools In Asia (Business Today)

Media Prima clarifies shareholding structure; Syed Mokhtar maintains indirect interest (The Star)

MClean Technologies announces diversification, private placement and capital reduction (The Star)

Pertama Digital hits limit down again, unable to explain latest decline (The Edge)

Ireka Awarded RM1.07 Billion Pan Borneo Phase 1B Highway Sub-Contract (Business Today)

Saudee changes name to Saudigold (The Star)

Tuesday, 8 Oct 2024 Entitlement Announcement

5:38PM RHONEMA Interim Dividend

[winston]

Market News on 10 OCT 2024

Dow jumps more than 400 points to record close, S&P 500 hits all-time high (CNBC)

A 'substantial majority' of Fed favored large cut in Sept, minutes show (Reuters)

Regional banks brace for tougher capital rules, get relief from Fed cuts (Reuters)

China's stock rally hits speed bump as investors await more stimulus (Reuters)

Poultry stocks fall as govt considers ending egg subsidy (The Edge)

Capital A, AAX shares see continued interest as EGM to approve airline biz deal looms (The Edge)

Guan Chong plans purchase of 25% equity in Ivory Coast cocoa processor (The Star)

SkyWorld Inks Deal To Build PR1MA Homes In Brickfields With GDV Of RM191 Million (Business Today)

Petron To Shut Port Dickson Refinery For Maintenance (Business Today)

Key ASIC to collaborate with Japan’s NSW to develop application-specific integrated circuit design business (The Edge)

LBS Bina awards RM104 mil solar farm construction to Solarvest (The Edge)

Berjaya Food (BJFOOD) to open Paris Baguette outlets in Brunei, Thailand (The Star)

Ecomate to acquire factory, machinery in Muar to expand operations (The Edge)

Kitacon bags RM64 mil housing works project from S P Setia’s unit (The Edge)

ACE Market-bound 3REN offers IPO at 28 sen a share to raise RM30.8 mil (The Edge)

MMC Port mulls RM7bil IPO on Bursa (The Star)

Wednesday, 9 Oct 2024 Entitlement Announcement

6:58PM PMBTECH Rights Issue
5:56PM GLOTEC Final Dividend
5:27PM KUCHAI First and Final Dividend
5:26PM KLUANG First and Final Dividend
5:13PM ATLAN Second Interim Dividend

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Market News on 11 OCT 2024

Wall Street ends slightly lower after higher than expected inflation, jobless claims (Reuters)

Inflation rate hit 2.4% in September, topping expectations; jobless claims highest since August 2023 (CNBC)

AMD launches AI chip to rival Nvidia’s Blackwell (CNBC)

China kicks off 500 bln yuan swap facility to aid stock market (Reuters)

Oil prices jump 4% on US storm and Israel-Iran fears (Reuters)

Public Bank to acquire 44.15% stake in LPI Capital for RM1.72 bil, triggering MGO at RM9.80 (The Edge)

Public Bank’s Teh family to trim down shareholdings to 10% in next five years via restricted offer for sale (The Edge)

Sunway unit, Hoi Hup Realty to develop RM2.19bil property project in Singapore (The Star)

Top Glove confident of meeting US glove demand amid China tariff woes (The Edge)

Top Glove Rewards Shareholders By Warrants And World-class ESG (Business Today)

Norway wealth fund ends observation of Supermax (The Star)

KJTS secures second subcontract from SunCon unit for data centre job in Selangor (The Edge)

SHH Resources diversifies into food industry via 51% stake buy in health foods firm (The Edge)

MGB to undertake RM861m GDV mixed development, residential projects in Seri Kembangan (The Edge)

Solarvest Wins 3rd CGPP Contract, Hits 74% of Full-year Earnings Target (Business Today)

Trading in Sarawak Cable (SCABLE) to be suspended Friday pending judicial management order (The Edge)

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Market News on 14 OCTOBER 2024

S&P 500, Dow hit records, boosted by bank earnings surprise (Reuters)

Chinese finance minister hints at increasing the deficit at highly anticipated briefing (CNBC)

China's deflationary pressures build in Sept, consumer inflation cools (Reuters)

China unveils fiscal stimulus measures to revive growth (Reuters)

Oil prices fall by more than a $1 on Chinese economic data (Investing.com)

Govt Will Only Implement GST If Minimum Salary Threshold Increases To RM3,000 (Business Today)

Yong Tai Files RM76.6 Million Countersuit Against Kerjaya Prospek (Business Today)

Steel Hawk Awarded Services Contract By Petronas Gas (Business Today)

Takaful Malaysia eyes RM10mil in premiums for Kaotim Car and Kaotim Motor (The Star)

Sunway REIT completes RM215mil acquisition of 163 Retail Park, rebranding it as Sunway 163 Mall (The Star)

Tanco signs agreement with CCCC Dredging for smart AI container port in Port Dickson (The Sun)

Epic, MRL sign MOU to boost East Coast connectivity (The Edge)

Glostrext diversifies into power supply system with RM4.2m acquisition (The Edge)

Fajarbaru to sell 44.44% stake in Australian property company (The Edge)

Press Metal founder sells 6.3 mil shares for RM32.04m (The Edge)

Exsim to acquire 70% stake in WMG, undertake general offer for remaining shares (The Edge)

Pertama Digital chairman Ahmad Nazri reemerges as substantial shareholder (The Edge)

PUC announces another sale of software, IP rights (The Edge)

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Market News on 15 OCTOBER 2024

S&P 500 ends at fresh record high, as Dow scales 43k for first time (Reuters)

Nvidia closes at record as AI chipmaker's market cap tops $3.4 trillion (Reuters)

Fed Governor Waller sees need for ‘more caution’ ahead when lowering interest rates (CNBC)

China’s exports and imports grew far less than expected in September (CNBC)

China’s Ministry of Finance is taking aim at local debt problems before tackling broader economic challenges (CNBC)

U.S. crude oil prices fall more than 2% after OPEC cuts demand forecast again (CNBC)

Hibiscus Completes Acquisition Of TotalEnegies Brunei (Business Today)

Critical Holdings (CHB) Secures RM62 Million Contract From IJM For Semicon Plant (Business Today)

Fajarbaru Bags Batu Kawan Medical Hub Development Project (Business Today)

EA Techique Poised For PN17 Exit By Q1 2025 (Business Today)

EA Technique says in final stages of tendering for several high-value contracts, including for Nautika Tembikai FSO (The Edge)

Capital A Receives Shareholders Nod For AirAsia Disposal (Business Today)

Genting’s US subsidiary faces RM2.6b lawsuit from Bahamas partner (Malaysian Reserve)

Bee Family offloads 71.7 mil shares in Mr DIY for RM149.37m (The Edge)

UCrest enters deal to provide AI-powered digital transformation for Singapore healthcare group (The Edge)

Ho Hup’s 52.5% indirect unit served with winding-up petition over payment dispute (The Edge)

Pan Malaysia Holdings (PMHLDG) clinches RM47m subcontract in Damansara Perdana (The Edge)

Cropmate Signs Underwriting Agreement With HLIB For IPO Exercise (Business Today)

Monday, 14 Oct 2024 Entitlement Announcement
5:26PM SBAGAN Others
5:25PM SBAGAN First and Final Dividend
12:34PM RKI Final Dividend

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Market News on 16 OCTOBER 2024

Dow closes 300 points lower, retreating from record; Nvidia drags down Nasdaq (CNBC)

ASML Shares Plunge as Bookings Miss Signals Chipmaker Woes (Bloomberg)

China may raise $850 billion in new debt over three years to spur growth, says report (Reuters)

U.S. crude prices fall more than 4% as Israel is not expected to strike Iran’s oil industry (CNBC)

Anwar: Govt will continue to streamline East Coast Economic Region (ECER) development framework (The Edge)

Information and Communication Technology (ICT) And E-commerce Sector Contribute RM427.7 Billion To Malaysia’s GDP (Business Today)

PLB Engineering sells 60% stake in solar venture for RM33m (Malaysian Reserve)

Perdana Petroleum bags RM7.3m vessel charter (Malaysian Reserve)

Well Chip Group Informs Of Cyber Attack To Its IT System (Business Today)

Cypark And Jakel Expore Developing Energy Solutions For GTP In Melaka (Business Today)

MGRC Partners Innoquest For Distribution Of Genetic Screening Services (Business Today)

No second earnout payment for Malayan Flour Mills from Tyson (The Edge)

Capital A optimistic about exiting PN17 status by end-December 2024 (The Star)

Dolphin International changes name to Oasis Harvest (The Star)

Tuesday, 15 Oct 2024 Entitlement Announcement

12:38PM DIN045801028 Profit Payment

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Market News on 18 OCTOBER 2024

Dow closes at another record high as chip stocks, retail data support (Reuters)

Nvidia and Apple supplier TSMC shares pop 10% after quarterly profit soars on AI demand (CNBC)

U.S. retail sales rose 0.4% in September, better than expected; jobless claims dip (CNBC)

Yellen says high US tariff wall 'deeply misguided', would raise prices (Reuters)

IMF chief warns ‘not yet time to celebrate’ as low growth and high debt weigh on global economy (CNBC)

China boosts funds for housing projects to support embattled sector (Reuters)

Malaysia To Raise Investments With New Industrial Cluster Development Zones (Business Today)

Alpha IVF Expands To Indonesia With New Satellite Clinic (Business Today)

LKL Seeks To Establish Medical Furniture Centre In Indonesia (Business Today)

Zecon Partners SDEC And CENTEXS For 1,214HA Kota Petra Green Technology Park Development (Business Today)

MAHB records 36.1m passenger movements in 3Q, nearing pre-pandemic level (Malaysian Reserve)

AME REIT's proposed acquisition of Johor factories for RM119 mil is fair and reasonable, says independent adviser (The Edge)

GenM says US$600m Bimini lawsuit won't impact its financial results, operations (The Edge)

Bintai Kinden partners China-based firm to bid for construction projects (The Edge)

Varia bags RM572m Socso rehabilitation centre project in Terengganu (The Edge)

Salcon wins RM18.5 mil water reticulation contract (The Edge)

SC Estate Builder (SCBUILD) to bid for Sabah LSS power plant projects (The Edge)

Thursday, 17 Oct 2024 Entitlement Announcement

5:39PM CHB Interim Dividend
5:28PM VOLCANO Final Dividend

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Market News on 21 OCT 2024

Dow and S&P end at fresh record highs, lifted by Netflix earnings and tech stocks (Reuters)

U.S. deficit tops $1.8 trillion in 2024 as interest on debt surpasses trillion-dollar mark (CNBC)

China reports third-quarter GDP growth of 4.6%, slightly beating expectations (CNBC)

2025 GDP growth forecast of 4.5%-5.5% is reasonable, says economist (Bernama)

Budget 2025: Govt to introduce carbon tax on iron, steel and energy industries by 2026 (The Star)

Budget 2025: 2% tax on dividend income in excess of RM100,000 (The Star)

CPO windfall profit levy threshold to be raised by RM150 per tonne, effective Jan 1, 2025 (The Edge)

Govt to announce special Johor-Singapore Special Economic Zone (JS-SEZ) incentives by year end — Anwar (The Edge)

Sugary drink tax to be raised to 90 sen per litre next year, from 50 sen now (The Edge)

Foreign Workers Not Excluded From New RM1,700 Minimum Wage Ruling (Business Today)

SCIB Secures RM48 Million Facilities From Affin Bank (Business Today)

Exsim Hospitality wins RM60 mil sub-contract works (The Edge)

HeiTech wins bid for RM892.2 mil NIISe project (The Edge)

OB Holdings’ 19.58 mil IPO shares for public oversubscribed by 109 times (The Edge)

Sorento Capital’s 43 mil IPO shares oversubscribed by 39 times (The Edge)

Main market-bound Azam Jaya to raise RM61.5m from IPO (The Edge)

Friday, 18 Oct 2024 Entitlement Announcement

5:33PM MATANG First and Final Dividend

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Market News on 22 OCT 2024

Dow, S&P end down as Treasury yields rise, investors eye earnings (Reuters)

China cuts benchmark lending rates by 25 basis points (CNBC)

China c.bank conducts first operations under swap facility to bolster stock market (Reuters)

China's listed companies rush to tap central bank funding for share purchases (Reuters)

Oil prices rise nearly 2%, recovers some of last week's 7% decline (Reuters)

Miti to help Perodua produce Malaysia's first EV under RM100k by end-2025, says Zafrul (The Edge)

PTT Synergy to build and lease automated warehouse to multinational firm for RM399.7 mil (The Edge)

AWC bags housekeeping services job in JB Sentral (The Edge)

MyEG, HeiTech affirm collaboration in current and future e-government projects (The Edge)

EP Manufacturing (EPMB) proposes diversification into vehicles assembly business (The Star)

Censof lands RM5.4m contract from Land Public Transport Agency (The Malaysian Reserve)

Samaiden inks shareholders agreement with Chudenko on solar PV partnership (The Star)

PUC subsidiary bags RM10mil customer relationship management (CRM) project (The Star)

Dagang Exchange (DNEX) Appoints Former Astro Head As New Group CEO (Business Today)

Rexit appoints independent cybersecurity audit firm to enhance data security (The Malaysian Reserve)

Khee San gets shareholders’ nod for regularisation plan to exit PN17 (The Edge)

Pinehill Pacific (PINEPAC) Faces De-Listing As Bursa Rejects Extension Requests (Business Today)

Monday, 21 Oct 2024 Entitlement Announcement

5:40PM DIALOG Final Dividend
5:23PM KIPREIT Income Distribution
5:08PM ULICORP Fourth Interim Dividend