Panasonic Malaysia Bhd today presented its 45 latest consumer product line-ups across nine categories as part of its continuous endeavour to champion solutions in enriching people's lives. These categories include refrigerators, water purifiers, rice cookers, washing machines, home showers, televisions, vacuum cleaners, and ceiling fans. (NST)
Leform Bhd has entered into an underwriting agreement with MIDF Amanah Investment Bank Bhd in conjunction with its forthcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. Under the underwriting agreement, MIDF Investment will act as the sole underwriter for the IPO. (TheStar)
Eden Inc Bhd has received compensation from the government for the acquisition of its parcels of land in Pahang for the purpose of the East Coast Rail Link (ECRL) project, totalling RM76.86 million. In a filing with Bursa Malaysia on Wednesday, the company said the decision for the consideration amount was made during the land hearing held on Aug 4, 2022 based on the facts presented by representatives from Eden and Malaysia Rail Link Sdn Bhd, a wholly owned subsidiary of Minister of Finance Incorporated. (TheEdge)
Petronas Chemicals Group Bhd (PetChem) said its next merger and acquisition (M&A) within the specialty chemicals platform is crucial for the company's future positioning as the group eyes customers from industries including the food and healthcare sectors as end markets for its products. (TheEdge)
SLP Resources Bhd's (SRB) utilisation rate is anticipated to recover in the second half of 2022 (2H22), thanks to the return of foreign workers and 2H seasonally strong orders amid the festive seasons. Hong Leong Investment Bank Bhd (HLIB Research) noted that SRB's utilisation rate remained at a subdued level of 49.5 per cent in the second quarter (Q2) of 2022 due to the ongoing labour shortage. (NST)
Bina Darulaman Bhd (BDB), a real estate and construction company, plans to explore new business prospects in the food production, energy, and telecommunications sectors. Acting president and chief executive officer Mohd Iskandar Dzulkarnain Ramli said the pandemic in 2020 and 2021 demonstrated that the company's core business is highly vulnerable to lockdowns and movement control orders (MCO). (NST)
Glomac Bhd has cautioned that factors like inflation, the labour shortage, higher interest rates and cost of materials may affect the recovery experienced by the property sector after moving into the endemic phase. That said, the property developer noted its longer-term prospects remained intact, underpinned by a healthy balance sheet and a strong pipeline of future development projects located strategically within the Klang Valley. (TheStar)
There should be an intervention by the government to mitigate construction costs against the rise in construction materials prices, Central Global Bhd group managing director Chew Hian Tat said. Chew said that in the upcoming Budget 2023, the company proposes financial assistance through small and medium enterprise (SME) loans to help mitigate this unusual price hike for the affected contracted projects. (NST)
PRG Holdings Bhd's indirect energy efficient unit, Measurement and Verification Pte Ltd (M&V Singapore), is expanding into Malaysia, specifically into Kuala Lumpur and Johor, in its bid to capture the growing demand for heating, ventilation and air-conditioning energy management systems (HVAC-EMS). M&V Singapore is the wholly owned subsidiary of Singapore Energy Solution Global Ltd (ESGL), which provides smart energy-saving solutions, designing and installing HVAC-EMS for buildings, aiming to achieve optimal energy consumption, lower greenhouse gas emissions and a reduction in energy costs. (NST)
Kenanga Research has maintained its “market perform” rating on KESM Industries Bhd at RM7 with a lower target price of RM7.47 (from RM7.50) and said KESM’s FY22 core net profit (CNP) of RM200,000 (-94.4% year-on-year) missed both house and consensus estimates due to another quarter of net loss. (TheEdge)
RHB Investment Bank Research has maintained its “neutral” rating on the automotive sector and said that in light of the strong year-to-date (YTD) total industry volume (TIV) and easing supply chain conditions, it is raising its 2022 TIV forecast to 650,000 (Malaysian Automotive Association: 630,000) from 615,000, as it expects carmakers to continue ramping up production to fulfil the months-long order backlog. (TheEdge)
RHB Retail Research said Ancom Nylex Bhd is set to propel higher as it bounced off the support to reclaim the area above the previous breakout point of 97 sen on Wednesday (Sept 21) — firming up the bullish bias above the breakout point. In a trading stocks note on Thursday, the research house said bullish bias above that level may drive the counter north further, towards Aug 17’s high of RM1.02, followed by RM1.09 or Aug 2’s high. (TheEdge)
RHB Retail Research said Coraza Integrated Technology Bhd is poised to resume the uptrend after it rebounded strongly above the 21-day average line on Wednesday (Sept 21), while heading towards the immediate resistance of 84.5 sen. In a trading stocks note on Thursday, the research house said if a breakout happens above that level, the bullish bias may propel it further towards the 89.5 sen point (Sept 13’s high), followed by 97.5 sen or Feb 7’s high. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 22 Sep 2022
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