Caely Holdings Bhd's former executive chairman Datuk Wira Ng Chun Hau has denied allegations of misappropriation of funds amounting to RM30.55 million involving its wholly-owned Caely (M) Sdn Bhd (CMSB) during his tenure. Ng was executive chairman of the Perak-based lingerie and apparel manufacturer from February 2021 to May 2022. (NST)
Citaglobal Bhd has executed its exclusive collaboration agreement with Genetec Technology Bhd (GTB) to develop battery energy storage management systems to store and manage excess power during the generation of renewable energy. Both parties will enter into a definitive agreement within one month, with an automatic extension of one month or no later than six months from the date of the collaboration agreement. (NST)
IHH Healthcare Bhd's business performance remains strong on robust structural demand growth for healthcare services, according to Affin Hwang Capital. The research house said IHH Healthcare was seeing a healthy uptick in the number of inpatient admissions – six months 2022 (6M22) inpatient admissions in Malaysia, Acibadem and India were higher year on year (yoy) by 25 per cent, 11 per cent and 6 per cent, respectively. (NST)
Nestcon Bhd says its unit Nestcon Infra Sdn Bhd has accepted a contract worth RM91.18mil from Euro Saga Sdn Bhd to be a subcontractor to undertake works on the Nenggiri Hydroelectric project. In a filing with Bursa Malaysia, the construction and engineering company said the total provisional sum of RM91.18mil shall be claimable by and payable to Nestcon Infra on a progressive claim basis based on the work done. (TheStar)
G Capital Bhd’s 70%-owned subsidiary Solarcity Malaysia Sdn Bhd has signed a 25-year solar power purchase agreement (PPA) with Aryzta Solutions Malaysia Sdn Bhd. In a filing with Bursa Malaysia, G Capital said Solarcity would supply solar photovoltaic (PV) energy to Aryzta via a 1,100KWp solar PV system located at the latter’s premises in Pulau Indah, Selangor. (TheStar)
Jentayu Sustainables Bhd has secured a solar power purchase agreement under the self-consumption (Selco) scheme with Outspan Malaysia Sdn Bhd. In a statement, it said Outspan, a subsidiary of Olam International Ltd in Singapore, has a facility in Port of Tanjung Pelepas Free Zone that operates a dairy processing plant producing fat-filled milk powder and dairy ingredients. (TheStar)
The shares of Opensys (M) Bhd will be transferred from the ACE Market of Bursa Securities to the Main Market under the Technology sector at 9am on Wednesday, Oct 12. Bursa Securities said in a statement the stock short name "Opensys" and stock number "0040" for the company's shares remain unchanged. (TheStar)
Yinson Holdings Bhd’s indirect wholly-owned the Netherlands-based subsidiary Yinson Bergenia Production B.V. (YBPBV) has entered into a US$720mil (RM3.34bil) syndicated loan facility. The six-year limited recourse loan will be used to support the ongoing construction of floating, production, storage and offloading (FPSO) Maria Quiteria, an FPSO project awarded to Yinson by Petroleo Brasileiro S.A. (Petrobras) in November 2021. (TheStar)
Cheetah Holdings Bhd has made its first strides into the upscale clothing market with the launch of Cheetah Exclusive, its first exclusive collection for mens and ladies by renowned designer Datuk Jovian Mandagie. The company, which is known primarily for its flagship Cheetah brand across Malaysia, enters the upscale clothing industry bolstered by its confidence that the Malaysian fashion retail market will continue to grow in 2023 and beyond. (NST)
Top Glove Corp Bhd is halting its dividend payout to preserve cash holdings, after its plant utilisation (PU) rate declined from 52% in the second quarter ended Feb 28, 2022 (2QFY22) to 35% in 4QFY22, amid low average selling prices (ASPs) and competitive glove prices from China. AmInvestment Bank in a note on Friday (Oct 7) said that Top Glove told analysts at a briefing that its end-customer rubber stock had peaked at six to seven months, and stock replenishment activity by mid-2023 (4QFY23) is expected. (TheEdge)
Genting Bhd's share price jumped as much as 18 sen or 4% to RM4.69 on Friday morning (Oct 7), after the company's 20.33%-owned associate TauRx Pharmaceuticals Ltd said a day ago it plans to submit its Alzheimer’s drug for regulatory approvals in the US and Canada next year. At 11.23am, Genting had pared its gains at RM4.50, with about 12.25 million securities traded. At RM4.50, Genting had a market capitalisation of RM17.41 billion. (TheEdge)
Spritzer Bhd expects higher revenue for financial year 2022 (FY22) driven by robust bottled water demand and increased consumption outside of homes following the reopening of the economy, MIDF Research said. MIDF Research said Spritzer currently has an annual production capacity of 850 million litres with an average utilisation rate of 75 per cent. (NST)
Analysts have reiterated their “outperform” call on telecommunication network service provider OCK Group Bhd, stating that its latest intended foray into Laos bodes well for the company. Kenanga Research in a report to clients said the development underscores the market’s recognition of OCK’s capabilities in the telco infra space both at home and abroad. (TheStar)
PublicInvest Research has valued soon-to-be listed electronics manufacturing services (EMS) solutions provider Betamek Bhd at 66 sen. In a note on Friday (Oct 7), the research house said as at Aug 31, 2022, Betamek manufactures and supplies vehicle audio products and components comprising vehicle infotainment systems and audio video accessories as well as air conditioning control panels, universal serial bus (USB) chargers, mirror switches, switch clusters and power sockets to automotive marques in Malaysia and Indonesia (through Perusahaan Otomobil Kedua Sdn Bhd). (TheEdge)
Hong Leong Investment Bank (HLIB) Research said it continues to like Malaysia Airports Holdings Bhd (MAHB) for being a beneficiary of the gradual reopening of borders worldwide. In a technical tracker on Friday (Oct 7), the research house said the easing of international travel protocols and relaxation of the entry procedures globally bodes well for air travel demand, benefitting MAHB via higher passenger movements. (TheEdge)
RHB Retail Research said Innature Bhd is set to resume its uptrend as it bounced off the 21-day average line strongly to reclaim the area above the previous breakout level of 59 sen yesterday – supported by improved trading volume. In a trading stocks note today, the research house said bullish momentum above that level may persist, and push the stock to the resistance level of 62 sen, followed by 67 sen. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 7 Oct 2022
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