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

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Market News on 17 DEC 2024

S&P 500, Nasdaq rise on optimism ahead of rate cut, economic data (Reuters)

China’s November retail sales miss expectations as real estate slump deepens (CNBC)

Foreign Investors Exit Bursa For 8th Straight Week (Business Today)

Moody’s Analytics Remains Upbeat On Malaysia’s Industrial Output (Business Today)

Malaysia’s First EV Proton e.mas 7 Debuts At RM105,000 (Business Today)

Gamuda's Australian unit bags RM1.8 bil EPC job for Goulburn River Solar Farm (The Edge)

MClean's shareholders approve firm's diversification into plastic moulding (The Edge)

DRB-Hicom, Geely ink MOUs with Mida, MARii to spearhead next-gen vehicle production in Tanjung Malim (The Edge)

MISC secures 15-year charter for new LNG carriers with Petronas LNG (The Malaysian Reserve)

Berjaya Land Partners With IHG To Bring ANA Crowne Plaza To Okinawa (Business Today)

Advancecon clinches RM45 mil infra works job from Sime Darby Property (The Edge)

George Kent clinches RM46m infrastructure project in Kwasa Damansara (The Edge)

KKB Engineering bags two contracts worth RM89m (The Edge)

Datasonic finally secures new contract for Malaysian passports, say sources (The Edge)

Infomina secures US$2.6 mil technology services order from Hong-Kong based firm (The Edge)

Pekat Group completes 60% acquisition of Apex Power, expands into power equipment business (The Star)

Perdana Petroleum secures anchor handling tug and supply vessel charter contract (The Edge)

Puncak Exotika ceases to be substantial shareholder in Sapura Industrial (SAPIND) (The Edge)

Alam Maritim aims to get approval for PN17 exit plan by 1Q2025, seeks to expand subsea business (The Edge)

Monday, 16 Dec 2024 Entitlement Announcement

6:49PM NTPM First Interim Dividend
5:26PM F&N Final Dividend

[winston]

Market News on 18 DEC 2024

Stocks fall, Dow drops for 9th straight session with Fed decision due (Reuters)

US manufacturing output rebounds less than expected in November (Reuters)

US retail sales showcase economy's enduring strength (Reuters)

China capital markets outflow hits record high in Nov after Trump election win (Reuters)

Fitch Reaffirms Malaysia’s ‘BBB+’ Rating, Cites Stable Outlook (Business Today)

Gotion partners with ITRAMAS and UEM Sunrise to develop R&D Centre in Malaysia (The Malaysian Reserve)

AZRB wins RM18.68m in legal victory against AEON in High Court (The Malaysian Reserve)

Public Bank Appoints Jati Tinggi (JTGROUP) For Solar Installation Across 135 Branches (Business Today)

MIDA, DRB-HICOM And Geely Collaborate To Advance Automotive High-Tech Valley In Perak (Business Today)

Evergreen Max Cash (EMCC) aims to have 80 pawnbroking outlets by next year (The Edge)

Scanwolf wins RM6mil construction job (The Star)

Datasonic to acquire 51% stake in Innov8tif for RM40m (The Malaysian Reserve)

KPS appeals RM7.89mil capital gains tax assessment, penalty from IRB (The Star)

KNM's Borsig group secures €60m multi-currency facility to continue operations (The Edge)

VSolar proposes share capital reduction to wipe out losses (The Edge)

TXCD's largest shareholder Liew Kok Leong exits after selling 15.56% stake to Chew Swe Siew (The Edge)

SMI's substantial shareholder seeks court order to freeze takeover offer, director appointments (The Edge)

PUC drops money lender acquisition, proceeds with digital marketing firm buy for RM100m in all-share deal (The Edge()

MESB changes name to Lotus Circular effective Dec 19 (The Star)

Tuesday, 17 Dec 2024 Entitlement Announcement

5:55PM INSAS-PB Others
5:10PM NOTION Second Interim Dividend

[winston]

Market News on 19 DEC 2024

Dow slumps 1100+ points as Fed's hawkish outlook downs stocks (Investing.com)

Fed cuts by a quarter point, indicates fewer reductions ahead (CNBC)

Fed lowers rates but sees fewer cuts in 2025 due to stubbornly high inflation (Investing.com)

Decision on KL-Singapore HSR by end Dec or early Jan (NST)

YTL Power says MACC has cleared subsidiary of wrongdoing in 1BestariNet project (The Edge)

MRCB pulls out of Berjaya-led bid for KL-SG HSR project (The Malaysian Reserve)

WTK to acquire 15% stake in Durafarm for RM28.32mil (The Star)

SD Guthrie (SDG), EcoWorld and NS Corp to jointly develop RM2.95b industrial park in Negeri Sembilan (The Edge)

Supermax proposes 1-for-5 bonus issue with 1-for-20 free warrants (The Edge)

Pestech proposes scheme of arrangement to settle outstanding RM267m debt (The Edge)

Advancecon secures RM418m contract to develop Silver Valley Technology Park in Perak (The Edge)

YNH Property’s MD Kuan Huat replaces brother Kuan Chon as new chairman (The Edge)

T7 Global appointed PETRONAS Panel Contractor for well continuity services (The Star)

PTT Synergy to sell stake in sanitary wares maker for RM15m, incurring RM13.8m loss (The Malaysian Reserve)

Quality Concrete bags RM75 mil construction contract in Sarawak (The Edge)

ACE Market-bound Northern Solar aims to raise RM42.4mil from IPO (The Edge)

Wednesday, 18 Dec 2024 Entitlement Announcement

5:14PM SBH Interim Dividend

[winston]

Bursa Malaysia closes on Dec 25, Jan 1, 2025

Market News on 20 DEC 2024

Stocks end flat after Fed-induced selloff as early bounce fades (Reuters)

US economy eyes strong finish ahead of heightened policy uncertainty in 2025 (Reuters)

Second Phase Of e-Invoice Starts January 1 2025 (Business Today)

TM, PETRONAS and Gentari ink MoU to drive digital transformation for industries (The Star)

Catcha Digital acquires 70% stake in Tastefully to tap into consumer food expo sector (The Edge)

Mah Sing to develop M Grand Minori in Johor with RM1.5bil GDV (The Star)

MRCB confirms withdrawal from KL-SG HSR consortium (The Star)

Plytec Appoints Distributor For Philippine Market (Business Today)

Vestland bags RM70m office construction job in KL (The Edge)

Uzma secures RM44m Kedah solar farm construction sub-contract (The Edge)

Fashion retailer Bonia ventures into health and wellness with investment in Macroverse (The Edge)

Mah Sing acquires Johor land from S P Setia for RM157 mil (The Edge)

UEM Sunrise wins Court of Appeal ruling in RM74m tax dispute (The Malaysian Reserve)

ES Sunlogy signs underwriting agreement with M&A Securities (The Star)

[winston]

Market News on 23 December 2024

Dow closes nearly 500 points higher on cooler inflation data, but index posts 3rd losing week (CNBC)

Key Fed inflation measure shows 2.4% rate in November, lower than expected (CNBC)

China keeps benchmark lending rates steady as Fed signals fewer cuts ahead (CNBC)

Edelteq proposes to acquire remaining 30% stake in EVSB for RM132.5mil (The Star)

JPG Awards Palm Oil Complex Project To Tg Langsat Development (Business Today)

SCIB Shareholders Approve Share Issuance For Fund Raising (Business Today)

LKL International secures RM24.55m contract with UKM (Malaysian Reserve)

Catcha Digital acquires 60% of Drive 2 Digital for RM16.2m (Malaysian Reserve)

ECA Integrated invests in automated equipment manufacturer to expand presence in China (The Edge)

Bahvest buys mining equipment from Chinese firm to build new plant (The Edge)

Smile-Link's auditor says removal notice retracted, threatens legal action over ‘untrue’ statement (The Edge)

PLB Engineering’s auditor flags material uncertainty over group’s ability to continue as going concern (The Edge)

MAHB takeover: Adviser recommends acceptance but independent directors disagree (The Edge)

ACE-bound CBH Engineering starts taking orders for RM83m IPO (The Edge)

Singapore’s V Medical Aesthetics is said to mull IPO in Malaysia — Bloomberg (The Edge)

Friday, 20 Dec 2024 Entitlement Announcement

5:17PM HOMERIZ Final Dividend

[winston]

Market News on 27 December 2024

Dow ekes out small gain in thin holiday trading, rising 5 days in a row (CNBC)

US stocks tread water in thin trade, benchmark US yield backs off new high (Reuters)

New US jobless claims slip, but people are remaining unemployed for longer (Reuters)

World Bank Raises China’s Growth Forecast For 2024 And 2025 (Business Today)

Oil prices ease as markets weigh China stimulus hopes (CNBC)

Lebtech Bags Selangor Water Subcon Job Worth RM10.8 Million (Business Today)

Southern Cable Awarded RM172 Million Cable Supply Contract For East Malaysia (Business Today)

EPF ceases to be substantial shareholder in YTL Power (The Edge)

TNB announces higher base electricity tariff for 2025-2027, raises capex to ensure reliable supply (The Edge)

TNB among LSS5 winners, bags 500MW solar farm project in Kedah (The Edge)

Kawan Renergy MD Lim Thou Lai trims stake to 67% (The Edge)

Taghill unit faces adjudication claim from subcontractor (The Edge)

MyMBN says bird's nest exports to China suspended due to Newcastle disease (The Edge)

Thursday, 26 Dec 2024 Entitlement Announcement

5:07PM CCK Special Dividend

[winston]

Market News on 30 DEC 2024

Wall St finishes down after sell-off at end of strong holiday-shortened week (Reuters)

US may hit new debt limit as early as Jan 14, Yellen says (Reuters)

China to cut import tariffs on some recycled copper and aluminium raw materials (Reuters)

China's November industrial profits narrow decline but 2024 likely worst year in decades (Reuters)

China To Continue Imposing Anti-Dumping Duties On n-Butanol From Malaysia (Business Today)

No Decision Made On Electricity Tariff Hike: Petra (Business Today)

RHB Completes Disposal Of RHB Securities Thailand (Business Today)

SCGM formalises injection of agriculture business, proposes 25 sen special dividend (The Edge)

Paragon Globe shareholders approve land deals and joint development with Tropicana (The Malaysian Reserve)

OCB to exit building materials sector with RM3m sale of Agrow Malaysia (The Malaysian Reserve)

Nova MSC pulls out of subscription deals with Singapore investors, explores new investment (The Malaysian Reserve)

PUC’s associate Pictureworks files for IPO on Nasdaq in US (The Edge)

Sunzen Biotech changes name to Sunzen Group (The Star)

Swift Energy's IPO shares for public oversubscribed by 58 times (The Edge)

Friday, 27 Dec 2024 Entitlement Announcement

5:14PM K1 Bonus Issue
5:07PM MELATI First and Final Dividend
5:06PM EDARAN Interim Dividend

[winston]

Happy New Year 2025

Market News on 31 DEC 2024

Dow closes down 400 points as Wall Street limps into year-end (CNBC)

Wall Street to close on Jan 9 to honor President Jimmy Carter (Reuters)

Steel trade group warns higher electricity tariffs will impair competitiveness, decarbonisation (The Edge)

Gamuda buys land from MUI Properties-Chin Teck JV for RM424m cash, for data centre project (The Edge)

Pentamaster Being Sued By UK Based Ocado Group (Business Today)

TT Vision's unit secures contract worth approximately RM8.74 mil (The Edge)

Yinson unit secures RM161.8m bareboat charter extension for FPSO unit (The Edge)

YNH Property's units inks land disposal deals in Perak valued at RM63.5mil (The Star)

Gadang unit’s JV wins bid to develop 15MWac solar plant in Tawau, Sabah (The Edge)

Samaiden picked for Kelantan solar plant project (The Edge)

Well Chip acquires three pawnshops in Perak for RM63 mil (The Edge)

EA Technique Embarks On Rebranding Aligning With Expectations Of PN17 Upliftment (Business Today)

EA Technique proposes name change to Avangaad Bhd (The Edge)

EcoBuilt shares to be suspended if it fails to submit annual report by Jan 7 (The Malaysian Reserve)

[winston]

Market News on 2 JAN 2025

Wall Street ends lower, capping a banner year (Reuters)

China’s December factory activity growth misses expectations as analysts decry insufficient stimulus (CNBC)

Malaysia's economic momentum to continue into 2025, GDP to grow 6% (The Star)

Tax identification number search service accessible from Jan 1, says IRB (Bernama)

SGX Mainboard-listed UMS Holdings Ltd applies for secondary listing on Main Market of Bursa Malaysia (The Edge)

Malaysia implements MSPO 2.0 to boost sustainable palm oil standards (Bernama)

Bintulu Port (BIPORT) secures one-year extension to operate main LNG port in Sarawak (The Edge)

Binasat disposes of 51% stake in utility construction firm Borderless Connection for RM5.92mil (The Star)

Sern Kou to develop 400ha of forest land in Kelantan (The Malaysian Reserve)

Tunku Nooruddin Leaves Datasonic After Disagreeing With Company’s Direction (Business Today)

BHIC secures approval to sell 51% stake in LCS subcontractor (The Malaysian Reserve)

Kossan’s Lim family ceases to be substantial shareholder in Berjaya Corp (The Edge)

Cahya Mata Sarawak aborts joint development of hotel, serviced apartments in Kuching Isthmus (The Edge)

JF Tech MD emerges as Cosmos substantial shareholder as MSM pares stake (The Edge)

Permaju Industries proposes RM258m share capital reduction to offset accumulated losses (The Malaysian Reserve)

LYC Healthcare to list subsidiaries on Nasdaq, expects to raise up to US$15 mil (The Edge)

Hextar Retail calls off deal to acquire 51% stake in apparel company Redina (The Edge)

Epicon executive chairman joins Lagenda Properties’ board (The Edge)

JS Solar files draft prospectus for ACE Market IPO (The Edge)

Precision engineering components and solutions provider Oxford Innotech plans ACE Market IPO (The Edge)

[winston]

Market News on 3 JAN 2025

US stocks fall on GDP downgrade; Tesla slumps after Q4 deliveries miss (Investing.com)

US weekly jobless claims hit eight-month low as labor market remains resilient (Reuters)

PBOC Seen Delaying Reserve Ratio Cut After $233 Billion Cash Injection Last Month (Bloomberg)

China adds 28 US entities to export control list (Reuters)

Malaysia December PMI Falls To 48.6, Costs Rise Slowest Since June 2020 (Business Today)

Pentamaster faces legal action from UK-based Ocado over alleged warehouse automation patent infringement (The Edge)

Awantec secures extension of at least one year to provide Google cloud services to govt (The Edge)

Maxis, UTAR collaborate on 5G solutions for healthcare, education (Bernama)

EPIC wins major contract from PETRONAS, stays committed to developing O&G business (The Star)

Sunway REIT completes Kluang Mall acquisition (The Edge)

Ecobuilt faces trading suspension from Jan 9 after failing to submit annual report (The Edge)