Greatech Technology Bhd has entered into a memorandum of understanding with Garreth Finlay and Fergus Hynes for the proposed acquisition of 60% equity interest in Kaon Automation Ltd. According to the company's filing with Bursa Mlaysia, Kaon Automation, incorporated in the Republic of Ireland in 2006, is principally involved in the provision of automation solutions for leading manufacturing companies globally in the medical device, automotive, electronics and consumer goods sectors. (TheStar)
Hup Seng Industries Bhd, which posted a lower net profit of RM3.03mil in the second quarter ended June 30 (2Q22), expects the operating environment to remain highly competitive this year. (TheStar)
Kejuruteraan Asastera Bhd has secured a letter of intent from Land Marker Sdn Bhd, a subsidiary of Bon Estates Sdn Bhd, to undertake electrical services installation works for a proposed 44-storey Bon Kiara condominium project in Mont Kiara, Kuala Lumpur. In a statement, the engineering and energy solutions provider said the contract was worth RM16.7mil, and involves the supply, delivery, installation, testing, and commissioning of electrical services installation and pile cap lightning protection earthing. (TheStar)
KPower Bhd has secured a four-year extension of its power purchase agreement (PPA) with Tenaga Nasional Bhd (TNB) relating to the development of a 50-megawatt (MW) solar photovoltaic plant in Pekan, Pahang. The extension of the PPA's tenure to 25 year from 21 years was informed by the Energy Commission (EC) in a letter to the renewable energy group's 95%-owned subsidiary, PKNP KPower Suria Sdn Bhd (PKSSB), KPower said in a bourse filing on Thursday. (TheEdge)
KPower Bhd’s wholly owned subsidiary KPower Development Sdn Bhd (KDSB) has obtained approval from the Terengganu state government to develop affordable and mixed housing on government land in Kuala Nerus. In a filing with Bursa Malaysia, KPower said KDSB will undertake the proposed development on 18.959 ha. (TheStar)
S P Setia Bhd’s (SPSB) venture into an industrial park development in the Klang Valley is positive, according to Maybank IBG Research. The research house expects the project to receive strong response from both local and international investors given its strategic location near Port Klang. (TheStar)
Ranhill Utilities Bhd's recent power purchase agreement (PPA) extension came as no surprise amid the higher equipment prices, such as solar panels, which rose 20 per cent, RHB Research said. The bank-backed research firm said as such, it viewed this PPA extension for the large-scale solar phase 4@MenTari (LSS4@MenTari) project as positive for Ranhill's venture into the solar space, as it enables the company to recoup its investments more efficiently and slightly improve the internal rate of return (IRR). (NST)
CIMB Group Holdings Bhd has unveiled the CIMB ESG-SME Pitch Challenge to help empower sustainability-focused small and medium-sized enterprises (SMEs) through a fundraising event platform. With the theme ‘Financing the Transition’, the CIMB ESG-SME Pitch Challenge is designed to expose promising SMEs to potential funders to boost their businesses and chart their next phase of growth. (TheStar)
Malaysia Airports Holdings Bhd (MAHB) and Capital A Bhd's shares on Bursa Malaysia were up on Thursday morning (Aug 11), following the announcement of the aviation industry players’ decision to drop all legal charges against each other. At 10.01am, MAHB shares had risen by six sen to RM6.34, while Capital A gained one sen to 64.5 sen. (TheEdge)
MISC Bhd's recent contract win will only improve the company's financial year ending December 31, 2025 (FY25) estimated earnings by less than three per cent, Hong Leong Investment Bank (HLIB) Research said. The bank-backed research firm said the estimation was made based on the assumption of a daily charter rate of US$75,000 due to the comparatively smaller size of these vessels compared to Q-Flex and Q-Max LNG (liquefied natural gas) ships and the decline in long-term LNG charter rates in the last 10 years. (NST)
JF Apex Securities Berhad said Solarvest Holdings Berhad (0215) gained 3 sen to 77.5 sen yesterday to break the 100-day moving average at 76 sen. In a technical stock pick note on Thursday (Aug 11), the research house said yesterday’s gain broke the downtrend from RM2.21 in February 2021. (TheEdge)
RHB Retail Research said Texchem Resources Bhd is set to rebound higher after strongly breaching above the RM3.12 immediate resistance yesterday – printing a long bullish candlestick and forming a “higher high” bullish pattern. In a trading stocks note today, the research house said the bullish bias above this level is expected to propel the stock towards RM3.42, or June 22’s high, and then RM3.55 (June 16’s high). (TheEdge)
RHB Retail Research said Cypark Resources Bhd is poised to climb further, after attempting to surpass its immediate resistance level of 45.5 sen yesterday, on strong trading volume. In a trading stocks note today, the research house said if the stock manages to breach this level – forming a “higher high” bullish structure – the momentum may drive the stock further towards the next resistance at 49.5 sen (June 27’s high), followed by 52 sen, or May 25’s high. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 11 Aug 2022
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