Gamuda Bhd’s contract win from Pengurusan Air Selangor Sdn Bhd valued at RM1.97bil is expected to provide the infrastructure group greater earnings visibility over the next three years. Last Friday, the group said it won Package 1 of Rasau Water Supply Scheme (phase one) worth RM1.97bil. Gamuda is the main contractor for this project, which will start on July 15 and targeted for completion on June 30, 2025. (TheStar)
Underground utilities and substation engineering specialist MN Holdings Bhd (MNHB) has secured a RM26.9 million underground utility contract in Kulim Hi-Tech Park, Kedah. MNHB's wholly-owned subsidiary Mutu Nusantara Sdn Bhd (MNSB) accepted the letter of award from Pembinaan Tajri Sdn Bhd (PTSB), appointing it to be the subcontractor for the project. (NST)
Sunsuria Bhd and Concord College International Ltd have entered into a strategic partnership to establish and operate Concord College International, a British international school in Sunsuria City, Sepang, Selangor. Concord College International is a wholly-owned subsidiary of UK-based The Bell Concord Educational Trust Ltd. It owns and operates one of the UK’s top ranked independent co-educational international schools — Concord College. (TheEdge)
Sime Darby Bhd is letting go of its Weifang Port companies for a fair price, said AmInvestment Bank Research, as the trading conglomerate continues to unwind its presence in non-core businesses. Sime Darby announced yesterday that it had entered into seven share sale agreements to dispose of its Chinese port business for RM1.27bil cash to SPG Bohaiwan Port Group Company. (TheStar)
Malayan Banking Bhd (Maybank) has expanded its mobile bus banking service or "Bank Bergerak" to cover two new rural routes in Pahang. The new mobile bus banking service now covers Lepar Hilir and Kuala Pahang in addition to its existing eight routes, bringing the number of routes to 10 effective from July 4. (NST)
Orgabio Holdings Bhd has made a debut on Bursa Malaysia's ACE Market today, opening at its issue price of 36 sen. The instant beverage premix manufacturer aims to expand its customer base in the direct selling segment and export sales with capacity expansion after listing. (NST)
MIDF Research has initiated coverage on Deleum Bhd with a "Buy" recommendation and a target price (TP) of 96 sen. MIDF Research said the financial year 2020 (FY20) to FY21 had been a challenging year for oil and gas (O&G) service providers due to the Covid-19 pandemic and volatile crude prices. (NST)
RHB Retail Research said QL Resources Bhd is eyeing to resume its uptrend as it bounced off the immediate support to head towards the recent high of RM5.40 – it closed on a positive tone last Friday with the “White Marubozu” bullish candlestick. (TheEdge)
RHB Retail Research said Global Oriental Bhd is set for an uptrend continuation as it broke above the 32.5 sen resistance last Friday on strong trading volume – reversing the profit taking momentum held last Thursday. (TheEdge)
JF Apex Securities Berhad said Digi.Com Bhd closed at RM3.55 yesterday (Monday, July 4) and that recent gain broke the middle band, upper band and the 50-day moving average after a gap-up. (TheEdge)
RHB Investment Bank Bhd Research has upgraded Aeon Credit Service (M) Bhd to “Buy” at RM13.60 with an unchanged target price (TP) of RM16.20, 19% upside and circa 3% FY23F (Feb) yield. (TheEdge)
Hong Leong IB Research has initiated coverage on TRC Synergy Bhd at 32.5 sen with a Buy recommendation and target price (TP) of 40 sen based on SOP calculation with a deep 50% discount; reflecting small cap status and heavy public sector reliance. (TheEdge)
The supply and demand mismatch in Resorts World Genting (RWG) has dragged down Genting Malaysia Bhd (GenM)’s earnings in the first quarter (1QFY22), according to Hong Leong Investment Bank (HLIB) Research. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 05 Jul 2022
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