Reservoir Link Energy Bhd's wholly owned subsidiary, Reservoir Link Renewable Sdn Bhd, has accepted two letters of award from Klang River Property Sdn Bhd and EE Food International Sdn Bhd for the development of solar rooftops. Upon completion, these solar rooftops will have an installed capacity of 132-kilowatt peak (kWp) and 180 kWp, respectively. According to Reservoir Link, the solar agreements are expected to collectively provide the company with a total earnings accretion of RM3.1 million over 15 years. (NST)
GDEX Bhd is deploying BlackBerry’s artificial intelligence-driven software, putting intelligent cybersecurity at the forefront of its digital transformation. In a statement on Thursday (Oct 13), BlackBerry Ltd said that in a strategic shift from signature-based antivirus to prevention-first cybersecurity, GDEX had deployed BlackBerry’s CylancePROTECT and CylanceOPTICS, ensuring continuous protection and detection throughout the company's entire ecosystem. (TheEdge)
Aeon Co (M) Bhd expects a strong fourth quarter (Q4) of the financial year 2022 (FY22) driven by a shopping spree ahead of festivities, including Christmas, Chinese New Year, and the new school term in January 2023. Kenanga Research said that Aeon expects its Q3 FY22 performance to soften sequentially, which was understandable after bumper second quarter (Q2) FY22 earnings. To recap, Aeon's Q2 FY22 performance was buoyed by the full economy opening for the first time since the start of the pandemic in 2020, coupled with the Hari Raya Aidilfitri shopping spree. (NST)
Sunway Group plans to turn Sunway City Ipoh into the biggest "R&R" for travellers on the North South Expressway (NSE). This was through an expansion that was expected to generate RM4 billion in gross development value (GDV) over 10-15 years, according to Sunway City Ipoh executive director Wong Wan Wooi. The expansion of Sunway City Ipoh will include a new medical centre, a shopping mall that will be the largest in the city and an education campus. (NST)
G Capital Bhd's 51 per cent owned subsidiary G Capital Water Solutions Sdn Bhd (GCWS) has accepted a letter of award (LoA) from Exxor Technologies Sdn Bhd (ETSB) from the Sarawak Rural Water Supply Department (SRWS) for non-revenue water (NRW) services in the state. The contract, which was on 11 October 2022, entails GCWS being appointed as an NRW specialist to provide services for 70-kilometre leak detection and pipe inspection for SRWS from Sarawak to Kota Samarahan. A filing with Bursa Malaysia shows that the project is initiated, managed, and funded by SRWS, while ETSB is the main contractor for this project. (NST)
ACE Market-bound Betamek Bhd’s public portion of its initial public offering (IPO) has been oversubscribed by 17.06 times. The electronic manufacturing services company said in a statement the bumiputra portion was oversubscribed by 9.49 times while the public portion was oversubscribed by 24.63 times. (TheStar)
The share price of GHL Systems Bhd has seen a sharp correction following weaker earnings in the second quarter ended June 30, 2022 (2Q22). Despite expectations of lower year-on-year earnings in financial year 2022 (FY22), RHB Research believes this negative sentiment has been priced in and the stock’s current price “presents a significant upside and an opportunity to buy into a proxy for Asean’s payment digitalisation and the secular trends of switching to e-payment and cashless channels”. (The Star)
RHB Retail Research said Shin Yang Shipping Corp Bhd is set to stage an uptrend reversal as it bounced off the 21-day average line yesterday while crossing above the 74 sen immediate resistance. In a trading stocks note today, the research house said that coupled with strong volume and forming a “higher high”, the bullish bias above that level may propel the stock to the resistance level of 81.5 sen or Sept 23’s high, followed by 87.5 sen ie the high of Sept 12. (TheEdge)
RHB Retail Research said Power Root Bhd is eyeing to print a new YTD high as it re-tested the immediate resistance of RM2.08 yesterday on strong trading volume – firming up its “higher low” bullish pattern above the 21-day average line. In a trading stocks note today, the research house said that if a breakout happens above that level, the renwed buying interest may drive the stock towards the RM2.15 resistance – the highest level since July 2020, before propelling further towards the RM2.36 – May 29, 2020’s high. (The Star)
Citaglobal Bhd (formerly known as WZ Satu Bhd) became one of the most active counters on Bursa Malaysia on Thursday (Oct 13) morning, with its share price reaching a high of 29 sen — last seen over four years ago. At noon break, Citaglobal pared its gains from its previous close of 28.5 sen, falling 5.26% or 1.5 sen to 27 sen, bringing a market capitalisation of RM295.1 million. Citaglobal was also the second most active stock for the day with more than 45.61 million shares traded so far. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 13 Oct 2022
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