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

[winston]

Market news on 12 November 2024

Wall Street extends post-election gains; Bitcoin hits new high (Reuters)

Bitcoin tops $88,000 as crypto euphoria over Trump win shows no sign of waning (CNBC)

Trump tariff threat looms large on several Asian countries — not just China — says Goldman Sachs (CNBC)

China's October new lending tumbles more than expected despite policy support (Reuters)

Foreign investors maintain selling streak on Bursa Malaysia with RM392mil outflow (The Star)

Pertama Digital Integrates MyDigital ID Onto Its Flaghip Products (Business Today)

Ecoscience Bags RM200 Million EPC Work For TG2 Black Pellet Plant (Business Today)

Texchem engages external consultant to investigate cybersecurity incident (The Edge)

Destini Secures RM33.05 Million Maintenance Deal From MINDEF (Business Today)

Powerwell Co-Founder Managing Director Steps Down (Business Today)

TCS Group Addresses Safety Concerns Of J.Satine Project After DBKL Suspension Order (Business Today)

Silver Ridge enters MOU for strategic collaboration in biomass power generation (Malaysian Reserve)

Vestland (VLB) sees emergence of new substantial shareholder Soo Sze Ching (The Edge)

Substantial shareholder Gano Global trims stake in DXN (The Edge)

TMC Life Sciences gets requisition for EGM from major shareholders to remove suspended group CEO (The Edge)

KTI Landmark wins RM50m sub-contract in Labuan (The Edge)

Kerjaya Prospek in JV to undertake 36-acre mixed development in Penang (The Edge)

ASM Automation files for ACE Market IPO (The Edge)

Monday, 11 Nov 2024 Entitlement Announcement

5:28PM HIGHTEC Interim Dividend
5:19PM CTOS Third Interim Dividend

[winston]

Market News on 14 November 2024

Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact (Reuters)

Annual inflation rate hit 2.6% in October, meeting expectations (CNBC)

Fed officials wary of inflation risks as they weigh more rate cuts (Reuters)

China unveils tax incentives to revive struggling property sector (Reuters)

Tiong Nam (TNLOGIS) Spends RM460 Million Capex For Warehouse Expansion Into 2025/2026 (Business Today)

Mclean gets Bursa approval for RM12.3m private placement to fund expansion into plastic injection molding (Malaysian Reserve)

Aizo bags RM24m infrastructure contract with China State Construction Engineering (Malaysian Reserve)

Bumi Armada’s FPSO gets contract extension worth RM331 mil (The Edge)

Bumi Armada could buy MISC's offshore energy assets, Bloomberg reports (The Edge)

Adviser backs Public Bank’s LPI acquisition, deems offer fair and reasonable (Malaysian Reserve)

Uzma bags five-year contract with Petronas for integrated well continuity services (Malaysian Reserve)

EVD faces RM29.5m lawsuit from Hitachi Rail GTS Hong Kong Ltd (Malaysian Reserve)

Ni Hsin confirms expiry of EV collaboration agreement with Permodalan Darul Ta’zim (Malaysian Reserve)

AGX Logistics to provide freight and customs services for Capital A’s Asia Digital Engineering (Malaysian Reserve)

Dayang Enterprise lands multi-year offshore maintenance contracts with Petronas Carigali (Malaysian Reserve)

PUC’s auditor expresses qualified opinion on its FPE2024 financial statements (The Edge)

U Mobile’s Planned 2025 IPO Could Benefit Magnum (Business Today)

Johor bus company HI Mobility files for Main Market IPO to expand fleet (The Edge)

Wednesday, 13 Nov 2024 Entitlement Announcement

6:15PM UZMA First and Final Dividend (with Dividend Re-Investment Plan)
6:02PM UTDPLT Interim Dividend
6:02PM UTDPLT Special Dividend
5:43PM VSTECS First Interim Dividend
5:06PM JPG Interim Dividend
12:46PM ELKDESA Interim Dividend

[winston]

Market News on 15 November 2024

Wall St indexes end lower after Powell erodes hopes for December rate cut (Reuters)

Fed doesn't need to be in hurry to cut rates as economic strength persists: Powell (Investing.com)

Fed has time to see what Trump policies mean for the economy, Powell says (Reuters)

US Initial Jobless Claims Dropped to Lowest Since May Last Week (Bloomberg)

China Copper Buyers Cut Annual Contracts With Market in Flux (Bloomberg)

S&P sees Malaysian banks' credit growth rising to 6% on higher loan demand in 2025 (The Edge)

Anwar launches Yinson’s solar park in Peru, calls for robust collab to tap new Global South potentials (The Edge)

Pestech To Face Proceedings For Claims By Chinese Vendor Of RM7.6 Million (Business Today)

Bumi Armada Inks Deal On Potential Merger With MISC’s Offshore Business (Business Today)

LBS Bina To Lead Green Hydrogen Project In Sabah With New MOU (Business Today)

Trinity Group Unveils RM568 Million Trinity Sensoria With Five-Tier Safety System (Business Today)

WCE’s substantial shareholder increases stake to 10.8% through warrant exercise (Malaysian Reserve)

LFE Corp secures RM19m electrical system contract with GDP Architects (Malaysian Reserve)

NICE achieves milestone with first heap leach plant commissioning (Malaysian Reserve)

Bina Puri's associate wins RM46 mil in arbitration case against Prolintas (The Edge)

Encorp CEO slapped with CBT charges involving RM1.05m (The Edge)

Seal Inc seeks shareholder nod to guarantee associate's RM293m loan facility (The Edge)

Farm Price (FPHB) ventures into Sabah's fruit business via stake purchase in KK firm (The Edge)

Scomi Energy says in talks with another potential white knight after Dhaya Maju deal falls through (The Edge)

Thursday, 14 Nov 2024 Entitlement Announcement

5:53PM HUMEIND Interim Dividend
5:51PM LYSAGHT Special Dividend
5:27PM TEOSENG Third Interim Dividend
5:26PM MRDIY Interim Dividend
5:25PM KEYFIELD Third Interim Dividend
5:06PM SENFONG First Interim Dividend
12:39PM MISC Interim Dividend

[winston]

Market News on 18 NOV 2024

Wall St. sinks on Powell rate-cut caution, Trump cabinet picks (Reuters)

China's Oct data shows soft economic underbelly, Trump threat looms large (Reuters)

Aluminium soars as China cancels tax incentive on exports (Bloomberg)

Oil settles down 2% on weaker Chinese demand, uncertainty over Fed rate cut (Reuters)

Malaysia removed from US currency monitoring list (The Star)

Malaysia's economy loses steam in Q3 on lower oil, gas output (Reuters)

RM11 per share: Khazanah-led group tables takeover bid for MAHB, valued at RM18.4b (The Malaysian Reserve)

Cypark's floating solar farm in Kelantan gets nod for operations (The Edge)

Sunsuria buys 20% stake in Kg Sungai Baru developer for RM10 mil, to inject RM40 mil to kick-start development (The Edge)

Mudajaya secures RM41 mil contract to build condo in Kuching (The Edge)

Citaglobal Inks Deal For 5.4MW Solar Power Project In Azerbaijan (Business Today)

Meta Bright bags RM60m job to supply concrete to mixed development in Sabah (The Edge)

LBS Bina signs MOU for 10GW green hydrogen plant in Sabah (The Edge)

Farm Price (FPHB) aborts plan for bonus warrants a week after announcing it (The Edge)

Petra Energy bags offshore crane operation contract from Shell (The Edge)

Pestech faces RM7.7m arbitration claim from Shandong Power Equipment (The Malaysian Reserve)

Prolintas Infra says it won't face financial loss over order to pay RM46 mil in arbitration case (The Edge)

Infoline Tec Group (INFOTEC) gets Bursa's greenlight for Main Market transfer (The Edge)

Barakah drafts new PN17 regularisation plan after receiving RM79 mil adjudication sum (The Edge)

Bahvest Resources proposes name change to Aumas Resources (The Edge)

Cropmate aims to raise RM42mil from ACE Market IPO (The Star)

Friday, 15 Nov 2024 Entitlement Announcement

5:53PM HIAPTEK First and Final Dividend
5:46PM MSC Special Dividend
5:25PM KOSSAN Special Dividend
5:25PM KOSSAN Interim Dividend
5:22PM BETA Second Interim Dividend
5:21PM KIPREIT Income Distribution
5:09PM ANALABS Interim Dividend

[winston]

Market News on 19 NOV 2024

Nasdaq closes higher as Tesla rally helps start week on an upbeat note (CNBC)

Tesla stock pops after report Trump wants to relax U.S. self-driving rules (CNBC)

China ETF Outflows Increase as Traders Flee on Trump Tariff Risk (Bloomberg)

China's January-October fiscal revenue falls 1.3% from a year earlier (Reuters

Oil prices rise more than 3% on Sverdrup outage, Ukraine war escalation (Reuters)

MITI: Govt Offers Various Initiatives, Incentives To Drive Local Automotive Industry (Business Today)

Nestcon secures RM32 mil contract for mixed-use development in Damansara Perdana (The Edge)

AWC secures RM49 mil maintenance contract in Putrajaya (The Edge)

Berjaya Corp sells 4.14% stake in REDtone for RM29.76mil (The Star)

Boycott Forces Starbucks Malaysia (BJFOOD) To Close 50 Stores (Business Today)

UEM Sunrise secures development approval for its first project in Perth, Australia (The Edge)

EA Technique unit bags three contract extensions with PETRONAS for RM63.9mil (The Star)

JPG Awards LOA For RM30.9 Million Construction Of ISPO Complex (Business Today)

Trive Property proposes RM85 mil share capital reduction (The Edge)

MMAG gets GN3 status waiver from Bursa Securities (The Edge)

OM Holdings Says Incident At Smelter Unlikely To Affect Production (Business Today)

Sapura Energy seeks fourth extension for financial regularisation plan (The Malaysian Reserve)

ACE Market-bound Swift Energy inks underwriting agreement with M&A Securities (The Edge)

Monday, 18 Nov 2024 Entitlement Announcement

6:07PM OPENSYS Fourth Interim Dividend
5:54PM PECCA Special Dividend
5:45PM FLBHD Interim Dividend
5:38PM RHONEMA Interim Dividend
5:33PM PTRANS Fourth Interim Dividend
5:33PM QES First Interim Dividend
5:13PM MTEC Second Interim Dividend
12:39PM CDB Third Interim Dividend

[winston]

Market News on 20 NOV 2024

Nasdaq jumps 1% as Wall Street looks past Russia-Ukraine tensions, Nvidia shares surge (CNBC)

Russia-U.S. tensions briefly hit global markets as Putin lowers the threshold for a nuclear strike (CNBC)

Malaysia’s October Trade Up 2.1%, While First 10 Months Expands By 9.3% (Business Today)

Resort World Sentosa’s (RWS) casino licence renewed for only two years (The Star)

Malaysia raises December crude palm oil export duty to 10% (The Star)

TCS Group bags RM611.3 mil job under Pan Borneo Highway (The Edge)

Theta Edge enters pact with ZICT Technology for smart city solutions (The Edge)

Binastra bags RM256.45 mil M&E job for Exsim's data centre in Bukit Jalil (The Edge)

Solarvest Launches First Solar Financing Solution In Vietnam (Business Today)

Bright Packaging sees emergence of new largest shareholder after Ricky Wong 17.8% stake sale (The Edge)

Handal Energy hit with RM132.6 mil counterclaim from former JV partner (The Edge)

EDEN Inc lands RM20m contract with Ministry of Health (The Malaysian Reserve)

Frozen food distributor Supreme Consolidated's 8.6 mil shares for public oversubscribed by 349 times (The Edge)

Tuesday, 19 Nov 2024 Entitlement Announcement

6:47PM TELADAN Interim Dividend
6:14PM IFCAMSC First Interim Dividend
6:07PM YXPM Interim Dividend
5:20PM AMFIRST Income Distribution
5:16PM DLADY Second Interim Dividend
1:19PM HEXTAR Second Interim Dividend
12:34PM HIBISCS First Interim Dividend

[winston]

Market News on 21 NOV 2024

Wall Street ends mixed, Nvidia shares slip after the bell (Reuters)

Nvidia Q3 results beat, but guidance underwhelms lofty expectations (Investing.com)

Rising equity market capitalisation reflects Malaysia’s economic health, says PM (Bernama)

Capital A subsidiary signs two-year aircraft lease agreement with AirAsia X (The Star)

Sapura Energy lands 5-year contract for offshore maintenance and services from Petronas Carigali (The Malaysian Reserve)

Velesto collaborates with Petronas to implement automation, robotics on its drilling rigs (The Edge)

Zecon to partner PHB, SDEC in Sarawak projects (The Star)

Reservoir Link to provide well continuity services to Petronas (The Edge)

Bursa lifts suspension of Sarawak Cable shares as it seeks clarification from court regarding interim judicial manager's appointment (The Edge)

Pappajack shares to transfer to Main Market on Nov 22 (The Star)

Infoline Tec to be transferred to Main Market on Friday, Nov 22 (The Star)

Wednesday, 20 Nov 2024 Entitlement Announcement

6:28PM KAWAN Second Interim Dividend
5:38PM AMWAY Interim Dividend
5:37PM SPTOTO First Interim Dividend
5:36PM RCECAP First Interim Dividend
5:04PM INFOM Interim Dividend

[winston]

Market News on 22 NOV 2024

Dow closes more than 450 points higher as investors snap up stocks tied to the economy (CNBC)

US weekly jobless claims at seven-month low; home resales rebound in October (Reuters)

Corporate China seeks dollars as trade tensions rise (Reuters)

Oil Rises on Signs of Further Escalation in Russia-Ukraine War (Bloomberg)

Dyson dials back Malaysia hairdryer operations, redeploys staff (The Star)

Maxim Global gives up plantation concession permits in Indonesia (The Edge)

Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS (The Edge)

Theta Edge to form JV with iStream360 to develop AI, blockchain solutions (The Edge)

Cypark Inks Deal To Deploy Plasma Waste To Energy Facility In Malaysia (Business Today)

Kucingko drops Russell Bedford as auditor over fee dispute (The Edge)

Thong Guan proposes 7 sen special dividend from RM60m F&B business sale (The Malaysian Reserve)

Pecca seeks international expansion, eyes orders from Malaysia’s first EV (The Edge)

Feytech delays construction of head office, manufacturing plant after land deal fails (The Edge)

Northern Solar Aims To Fund Projects From IPO Proceeds (Business Today)

Thursday, 21 Nov 2024 Entitlement Announcement

7:01PM PLENITU Interim Dividend
6:55PM PPJACK Second Interim Dividend
6:52PM SUNCON Second Interim Dividend
6:46PM PECCA First Interim Dividend
6:43PM FAREAST Special Dividend
6:33PM FAJAR Interim Dividend
6:25PM PLYTEC Interim Dividend
6:05PM TSH Interim Dividend
6:04PM GOHUB Second Interim Dividend
5:44PM BJCORP-LE Interest Payment
5:38PM MAGNUM Third Interim Dividend
5:36PM CEKD Interim Dividend
5:34PM TOMEI Interim Dividend
5:33PM FOCUSP Interim Dividend
5:32PM 3A Interim Dividend
5:20PM FIMACOR First Interim Dividend
5:19PM PENERGY Interim Dividend
5:15PM FPGROUP Interim Dividend
5:10PM HUPSENG Special Dividend
5:10PM HUPSENG Second Interim Dividend
5:02PM HAPSENG Second Interim Dividend

[winston]

Market News on 26 November 2024

Dow jumps 400 points to new record close, Russell 2000 hits all-time high after Trump makes Treasury pick (CNBC)

Donald Trump chooses hedge fund executive Scott Bessent for Treasury secretary (CNBC)

China central bank injects $124 bln into banking system via one-year policy loans (Reuters)

Oil falls more than 2% on Israel-Hezbollah ceasefire reports (CNBC)

Plantation Ministry confident of hitting timber industry export target of RM28 bil by 2025 (The Edge)

MCE Holdings To Market Automotive Parts In India (Business Today)

Bermaz (BAUTO) Secures Distribution Rights For Deepal EV From China (Business Today)

TNB rejects bid, Theta Edge ends MoU with India’s KEC International (Malaysian Reserve)

IJM expands into UK construction market with RM283m stake in JRL Group (Malaysian Reserve)

Infomina bags RM27m technology and support services contract with Land Bank of the Philippines (Malaysian Reserve)

Key ASIC signs RM10m ASIC design service contract for three years (Malaysian Reserve)

Privasia wins RM4.5m Health Ministry contract (Malaysian Reserve)

Genting Malaysia seeks dismissal of RM2.6b fraud lawsuit in US Court (Malaysian Reserve)

AppAsia enters MoU with Philippine Institute of Certified Public Accountants (Malaysian Reserve)

Ho Hup Construction resolves winding-up petition amicably (The Edge)

Mpire Global unveils rights issue to raise RM13 mil for business expansion (The Edge)

Dyson supplier SKP Resources says it's seeking to diversify customer base as 2Q profit jumps (The Edge)

Haily clinches RM115 mil contract for Johor residential project, largest in 2024 (The Edge)

ACE Market-bound CBH Engineering inks underwriting deal with Mercury Securities (The Edge)

TMK Chemical unveils prospectus for RM385 mil IPO, priced at RM1.75 apiece (The Edge)

TopVision Eye Specialist sets IPO price at 33 sen to raise RM17.9m in conjunction with ACE Market transfer (The Edge)

Monday, 25 Nov 2024 Entitlement Announcement

7:12PM LSH Interim Dividend
6:43PM CLOUDPT First Interim Dividend
6:41PM MNHLDG Interim Dividend
6:24PM TALIWRK Third Interim Dividend
6:21PM CPETECH First Interim Dividend
6:20PM NHFATT Second Interim Dividend
6:19PM NPS Interim Dividend
6:19PM MPI Interim Dividend
6:06PM EQ8SID Income Distribution
6:05PM KPJ Interim Dividend
6:05PM EQ8MID Income Distribution
6:04PM EQ8MY25 Income Distribution
5:59PM HLIND Interim Dividend
5:53PM TAANN Second Interim Dividend
5:52PM CAPITALA-LA Profit Payment
5:46PM PETDAG Interim Dividend
5:44PM MBMR Special Dividend
5:43PM MBMR Second Interim Dividend
5:43PM GMUTUAL First Interim Dividend
5:42PM LBICAP Interim Dividend
5:31PM UMCCA First Interim Dividend
5:21PM KLCC Income Distribution
5:15PM ITMAX Interim Dividend
5:14PM INNO Third Interim Dividend
5:07PM KLCC Third Interim Dividend
5:05PM MI Second Interim Dividend
1:26PM SIGN Interim Dividend

[winston]

Market News on 28 November 2024

Tech stocks drag US indexes lower as tariff talk clouds markets (Reuters)

Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations (CNBC)

US weekly jobless claims decline further (Reuters)

China’s industrial profits fall by 10% in October as deflation worries linger (CNBC)

China's yuan slides to four-month low on Trump's tariff promise (Reuters)

BYD Clarifies Price Negotiation Policy Amid Reports of Supplier Demands (The Edge)

Selangor Dredging (SDRED) faces RM3.6m lawsuit over alleged tenancy breach (Malaysian Reserve)

Sarawak is now Affin's largest shareholder with 31.25% stake (The Edge)

Citaglobal firms up collaboration to develop eco-friendly industrial park, proposes one-for-five bonus warrants (The Edge)

LGMS looking to double workforce on growing cyber security demand (The Edge)

Suspended CEO says TMC Life Sciences trying to ‘pin blame’ on her over certain contract issues (The Edge)

JF Tech plans RM46 mil private placement to fund new investment and capital expenditure (The Edge)

BHIC to hive off 51% stake in former LCS subcontractor to Rheinmetall, recognising RM15 mil loss on disposal (The Edge)

Meta Bright partners with Tunas Manja on rooftop solar PV installations (The Edge)

Cropmate IPO shares oversubscribed nearly 85 times, set for Dec 5 listing on ACE Market (The Edge)

Wednesday, 27 Nov 2024 Entitlement Announcement

7:11PM INSAS Interim Dividend
6:52PM GLOMAC Interim Dividend
6:50PM OFI Interim Dividend
6:31PM TSA Interim Dividend
6:21PM INARI First Interim Dividend
6:11PM RGB Special Dividend
6:09PM RGB Third Interim Dividend
6:08PM IRIS First Interim Dividend
6:08PM NATGATE Interim Dividend
5:55PM OPTIMAX Interim Dividend
5:44PM KOTRA Interim Dividend
5:32PM EUROSP Interim Dividend
5:25PM MKHOP Second Interim Dividend
5:16PM AHEALTH Second Interim Dividend
5:15PM JASKITA Second Interim Dividend
5:14PM ASTINO First and Final Dividend
5:14PM PARAMON Second Interim Dividend
5:08PM IJM First Interim Dividend
1:19PM AMBANK Interim Dividend
1:09PM PETGAS Third Interim Dividend
12:38PM HARISON Subdivision
12:36PM KERJAYA Third Interim Dividend
12:36PM KERJAYA Special Dividend