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

[winston]

Market News on 23 OCT 2024

Wall St closes little changed while investors digest yields, earnings (Reuters)

IMF says global fight against inflation is ‘almost won,’ warns of rising risks (CNBC)

US Election Creates ‘High Uncertainty’ for Fragile Markets, IMF Says (Bloomberg)

China's stimulus measures not enough, Yellen and IMF chief economist say (Reuters)

Oil settles up 2% as Middle East war rages and supplies tighten (Reuters)

Gamuda JV Secures RM4.3 Billion Taiwan Mass Rapid Project With Another RM10.8 Billion Potential (Business Today)

Ge-Shen shareholders approve stake buy in EMS firm (The Edge)

AWC Wins JB Sentral Service Contract, Growth Outlook Positive For Johor Bahru Market (Business Today)

UEM Edgenta Forms JV With HSS Engineering (Business Today)

Pos Malaysia’s digital transformation delivers operational efficiencies, enhances customer experience (The Sun)

Teo Seng proposes one-for-one bonus issue as share price reaches new peak (The Edge)

Yinson Disposes 11.8% Stake In FPSO Unit For RM210 Million To K Line (Business Today)

Globetronics announces resignation of CEO, executive director (The Edge)

AAX shareholders approve RM6.8b acquisition of Capital As aviation biz (The Malaysia Reserve)

Bahvest Signs Gold Mining Contract At Mt Andrassy In Tawau (Business Today)

Varia’s unit wins RM572m deal for rehab centre in Terengganu (The Malaysian Reserve)

Green Ocean proposes capital reduction to offset losses (The Star)

Willowglen MSC wins RM16.4m security systems contract in Singapore (The Edge)

DS Sigma Receives Bursa Approval For Main Market Transfer (Business Today)

Main Market-bound Life Water eyes Sarawak, Brunei markets with RM63.42mil IPO (The Star)

Tuesday, 22 Oct 2024 Entitlement Announcement

5:32PM ICAP Interim Dividend (with Dividend Re-Investment Plan)
5:13PM TGL Final Dividend
5:13PM TGL Special Dividend
5:04PM CVIEW Third Interim Dividend
5:03PM PWF Fourth Interim Dividend

[winston]

Market News on 24 OCT 2024

Dow tumbles 400 points, suffering worst day since early September (CNBC)

Surge in Treasury ‘Term Premium’ Warns of Rising Bond Risks (Bloomberg)

IMF Maintains 2024 Global Growth At 3.2%, Cautions Of Geopolitical Tensions (Business Today)

China think tank proposes $280 billion stock market stabilisation fund (Reuters)

Oil slips 1% on large build in US crude stocks; market watches Middle East (Reuters)

LFE Corp secures related-party construction contract (The Edge)

TAS Offshore secures RM49 mil shipbuilding contracts (The Edge)

Court clarifies freeze on Stanley Thai’s assets should exclude Supermax, one bank account (The Edge)

Capital A announces capital reduction of up to RM6bil, scraps unit's SPAC listing on Nasdaq (The Star)

Reservoir Link (RL) Unit Founder Group, Prices Its Nasdaq IPO At US$4.00 (Business Today)

Master Tec Completes Sediacom’s Acquisition For Power Infrastructure Market Expansion (Business Today)

Kerjaya Prospek bags two contracts totalling RM34.4 mil (The Edge)

Jujiang Power Tech plans RM48m investment in ABM Fujiya’s Fuya Energy (AFUJIYA) (The Malaysian Reserve)

Sapura Industrial (SAPIND) establishes new unit to target electrified vehicle market (The Malaysian Reserve)

Glomac in talks to venture into new businesses beyond property development (The Edge)

TA Securities ascribes RM1.54 fair value to Main Market-bound construction firm Azam Jaya (The Edge)

Wednesday, 23 Oct 2024 Entitlement Announcement

5:49PM MPIRE-WB Adjustment
5:48PM MPIRE Share Consolidation
5:25PM PANTECH Second Interim Dividend
5:03PM ZHULIAN Third Interim Dividend

[winston]

Market News on 25 OCT 2024

Nasdaq, S&P end higher as Tesla jumps, yields pull back (Reuters)

US sovereign credit default swaps rise on election, debt ceiling jitters (Reuters)

Anwar: Iskandar Malaysia secures RM40.3bil committed investments from Jan-Sept 2024 (The Star)

MITI Targets Green Transition For Steel Industry (Business Today)

Malaysia Recognised As New Partner In BRICS Bloc (Business Today)

Lotte Chemical Could Dispose Stake In US Unit For RM1.9 Billion (Business Today)

Evergreen Max (EMCC) seeks to raise RM36m via private placement for loan repayment (The Edge)

Perak Transit (PTRANS) wins contract for KB Sentral Terminal development (The Malaysian Reserve)

SC Estate Builder aborts RM4.3m job with Merchant Esteem due to 'management change' (The Edge)

Load Factor On AAX Rose 4% In Q3 To 1.08 Million Passengers (Business Today)

Two major shareholders of Rexit face jail in Singapore for illegally obtaining personal data (The Star)

AWC bags RM9.4m job for immigration complex in Sungai Melaka (The Edge)

Metro Healthcare (LEAP MARKET) unveils prospectus for RM39.16 mil IPO, priced at 25 sen per share (The Edge)

Cuckoo Malaysia files for Main Market IPO to raise funds for expansion (The Edge)

Thursday, 24 Oct 2024 Entitlement Announcement

6:53PM DXN Second Interim Dividend
6:47PM NESTLE Interim Dividend
6:04PM EFORCE Final Dividend

[winston]

Market News on 28 OCTOBER 2024

Nasdaq closes higher ahead of a heavy week of earnings (Reuters)

US 30-year fixed-rate mortgage rises to 6.54% (Reuters)

US labor market plodding along, but jobs becoming more scarce (Reuters)

China Industrial Profits Extend Drop as Deflation Takes Toll (Bloomberg)

Oil slips nearly $4 a barrel after Israel shows restraint in strikes on Iran (Reuters)

Gamuda wins RM3.048bil contract for Ulu Padas Hydroelectric Project in Sabah (The Star)

Cabnet wins RM22.5mil subcontract for M&E works in Johor (The Star)

MyEG partners with National Home Mortgage Finance Corporation (NHMFC) to expand online payment options in the Philippines (The Star)

Uzma wins three-year drilling cementing contract for geothermal wells in the Philippines (The Edge)

Malakoff extends E-Idaman stake buy cut-off date for third time (The Edge)

MN Holdings in JV to bid for data centre construction sub-contract (The Edge)

ACE Market Bound 3REN IPO Shares Oversubscribed By 84 Times (Business Today)

ACE Market-bound OB Holdings in legal dispute over alleged breach of contract, IP infringement (The Edge)

Friday, 25 Oct 2024 Entitlement Announcement

5:14PM HARBOUR Final Dividend

[winston]

Bursa Malaysia will be closed on Oct 31, 2024, in conjunction with the Deepavali public holiday

Market News on 29 OCTOBER 2024

Wall Street closes higher ahead of megacap earnings, election (Reuters)

US finalizes rules to curb AI investments in China, impose other restrictions (Investing.com)

Oil falls 6% on reduced risk of wider Middle East war (Reuters)

Malaysia’s Export Value Edged Down By 0.6% In September (Business Today)

Loke: Malaysia continues to serve as logistics hub for solar panels amid US tariff hike (The Star)

SHH Acquiring 51% In Deseng For RM1.3 Million (Business Today)

Barakah Disposes Barge For RM41 Million As Part Of Cost Cutting Measure (Business Today)

Mah Sing Signs Second Agreement With Bridge Data Centre Worth RM311 Million (Business Today)

AME Elite JV Unit Launches RM1.3 Billion Industrial Park In Penang (Business Today)

Genting commissions contractors to build midstream infra to link Kasuri Block to its Indonesia floating LNG facility (The Edge)

Supreme Consolidated Resources Shifts To ACE Market, Targets RM17.5 Million For IPO (Business Today)

Carlo Rino Begins Leap Into IPO For ACE Market Listing (Business Today)

ICT Zone Asia files draft prospectus for LEAP transfer to ACE Market (The Edge)

Main Market-bound Azam Jaya IPO oversubscribed by 23 times (The Star)

Monday, 28 Oct 2024 Entitlement Announcement

6:44PM ANNJOO-PA Final Dividend
6:33PM YOCB Final Dividend
6:25PM AXREIT Income Distribution
6:23PM SASBADI Second Interim Dividend
6:18PM OIB Interim Dividend
5:15PM IGBCR Income Distribution
5:12PM FACBIND Final Dividend
5:12PM IGBREIT Income Distribution
5:05PM PGF First Interim Dividend

[winston]

Market News on 5 NOV 2024

Dow closes down more than 200 points ahead of presidential election (CNBC)

OPEC chief is bullish on oil demand despite extended production cuts (CNBC)

Foreign selling of Malaysian equities accelerates to RM1.01bil net (The Star)

Datasonic buys 51% stake in Innov8tif Holdings from Revenue Group for RM40 mil cash (The Edge)

Elridge Energy signs deal to supply biomass feedstock to Japanese company for 15 years (The Edge)

MCE (MCEHLDG) explores development of autonomous driving solutions with Chinese company (The Edge)

Genetec sells its entire stake in subsidiary to ex-director (The Edge)

Carimin Petroleum gets five-year services contract from Shell (The Edge)

Bintai Kinden clinches RM61m housing construction job in Melaka (The Edge)

Tuju Setia gets RM411 mil job to build mixed high-rise, landed homes in Kelana Jaya for Sunway Serene 2 (The Edge)

Bina Puri secures RM113 mil water pipeline construction contract in Sarawak (The Edge)

Star Media, JAKS ink settlement to end six-year dispute over Section 13 land deal (The Edge)

SD Guthrie, AME Elite to jointly develop green industrial park in Kulai (The Edge)

Dayang Awarded 5+5 Year Maintenance Contract By Shell (Business Today)

Sapura (SAPIND) Venturing Into EV Battery Refurbishment Business (Business Today)

Khee San to raise up to RM96.1mil from rights issue (The Star)

Main Market-bound Life Water's IPO attracts over RM500m retail interest (The Edge)

[winston]

Market News on 6 NOV 2024

Dow rallies 400 points, S&P 500 gains 1% as traders await U.S. election results (CNBC)

Strong rebound in employment hoists US services PMI to more than two-year high (Reuters)

Malaysia’s end-October palm oil stocks fall on lower output, higher exports (Reuters)

TCS Group secures RM86m construction contract from Sime Darby Property (The Edge)

T7 Global secures ExxonMobil contract for pan-Malaysia offshore services (The Malaysian Reserve)

Aimflex sues for RM4m outstanding payment for solar project (The Malaysian Reserve)

Gagasan Nadi (NADIBHD) To Acquire Companies With Hostel Assets For RM185 Million (Business Today)

Aneka Jaringan secures RM39 mil construction contract in Kuala Lumpur (The Edge)

MKH Oil Palm (MKHOP) implements share buyback, reiterates dividend payout commitment (The Sun)

Johor APAD suspends Xin Hwa operator licence over safety violations (The Malaysian Reserve)

HE Group's major shareholders to sell 4.54% stake to Bumiputera investors (The Edge)

[winston]

Market News on 7 NOV 2024

Dow soars 1,500 points to record high in best day since 2022 after Trump election win (CNBC)

10-year Treasury yield posts huge leap to 4.43% on Trump win, possible GOP Congress sweep (CNBC)

Dollar soars, euro tumbles as Trump wins US presidential election (Reuters)

Bank Negara maintains supportive OPR of 3% (The Star)

Malaysia To Enhance Trade And Technology Links With China, Says PM Anwar (Business Today)

Govt focusing on SST to stabilise economy, meet fiscal deficit target by 2028: Amir Hamzah (The Sun)

Gamuda likely to oust Genting Malaysia from FBM KLCI (The Star)

JAKS to pay RM5 mil cash to Star Media under land deal dispute settlement (The Edge)

Binasat wins RM13.3mil civil works job (The Star)

Haily Group wins RM90m contract from Mah Sing (The Malaysian Reserve)

Datasonic proposes one-for-two bonus warrants (The Edge)

Parkson unit secures two major lease agreements in China (The Star)

Xin Synergy Group (XIN) acquires Johor-based developer for RM18.24mil (The Star)

Federal Court Dismisses Appeal, Decision Favouring CTOS Sustained (Business Today)

KNM Group, Cypark Reach Settlement Over Claims Dispute (Business Today)

Direct seller DXN to charter corporate jet for RM27m (The Malaysian Reserve)

Wednesday, 6 Nov 2024 Entitlement Announcement

5:55PM AMEREIT Income Distribution
5:54PM KMLOONG Special Dividend
5:31PM HM-WC Adjustment
5:30PM TECHBND First Interim Dividend
5:30PM HM Share Consolidation

[winston]

Market News on 8 NOV 2024

S&P 500, Nasdaq close at records and extend pos telection rally as Fed cuts rates (CNBC)

Fed cuts rates by 0.25% amid ongoing progress against inflation (Investing.com)

Fed's Powell says election outcome has no near-term policy impact (Reutes)

Powell says he would not resign as Fed chief if Trump asked for his resignation (Reuters)

US weekly jobless claims rise marginally; unit labor costs stir inflation fears (Reuters)

China asks banks to lower interbank deposit rates to boost growth, Bloomberg News reports (Reuters)

Tengku Zafrul: Malaysia secures potential exports to China worth RM3.2bil (The Star)

FGV’s unit sued over alleged breach of supply agreement (The Edge)

Ramssol wins AI healthcare deal in Thailand worth RM35m (The Malaysian Reserve)

Ekovest’s Lim weighing sale of toll-road assets for RM5b (Bloomberg)

Southern Steel reaches RM187m settlement with Italian plant builder (The Edge)

Eco World Inks Deal And Acquires Land From Boustead For RM742.4 Million (Business Today)

Microlink bags RM84 mil contract to develop screening system for Immigration Department (The Edge)

Kumpulan Jetson says it is not a party to disputed contract under OCR’s RM88 mil suit (The Edge)

KKB Engineering bags jobs totalling RM93m from Petros, other firms (The Edge)

Farm Price (FPHB) proposes one-for-two bonus issue of warrants (The Edge)

TMK Chemical inks underwriting deal with Maybank for Main Market IPO (The Edge)

Metro Healthcare IPO Oversubscribed 38.6 Times (Business Today)

Thursday, 7 Nov 2024 Entitlement Announcement

5:54PM YINSON Second Interim Dividend (with Dividend Re-Investment Plan)

[winston]

Market News on 11 November 2024

S&P 500 breaks 6,000 level as Trump and Fed-fueled rally advances (Reuters)

US fiscal health risks increase after Trump election, says Moody's (Reuters)

China consumer prices rise slowest in 4 months, despite stimulus (Reuters)

China announces $1.4 trillion package over five years to tackle local governments’ ‘hidden’ debt (CNBC)

Malaysia September industrial production index (IPI) posts weaker growth on slower oil and gas activity (The Star)

U Mobile ready to spearhead second Malaysian 5G network as Singapore’s Straits Mobile agrees to reduce stake to 20% (The Edge)

DBS Considers Entering Malaysia Via Stake In Alliance Bank Or Kuwait Finance House (KFH): Reuters Report (Business Today)

MPay To Offer P2P Financing Option For Chery Malaysia Dealers (Business Today)

REDTone Disposes 1.12 Million Shares In HeiTech Padu (Business Today)

Shares Of Sarawak Cable To Be Suspended From Nov 18 (Business Today)

Shin Yang Group building value-added vessels for the O&G industry

FGV plans to export crude palm kernel oil (CPKO) to europe via customer-end products (The Star)

JF Tech buys into Singapore-based semiconductor firms for RM26 mil (The Edge)

Steel Hawk bags offshore living quarters maintenance job from Petra Energy (The Edge)

Company linked to Exsim's Lim brothers buys 63.88% stake in Milux, triggering mandatory takeover at 43.2 sen per share (The Edge)

M&A Securities to underwrite Vanzo's ACE Market IPO (The Edge)

Livestream commerce firm Oasis Home files for ACE Market IPO (The Edge)

Friday, 8 Nov 2024 Entitlement Announcement

6:43PM KUCHAI Dividend in specie
5:21PM SLP Third Interim Dividend
5:12PM MINHO Interim Dividend
5:04PM CARLSBG Third Interim Dividend
12:39PM MAXIS Third Interim Dividend