MQ Market Updates

Author: MQ Trader   |   Latest post: Wed, 22 Mar 2023, 5:12 PM


MQ Market Updates - 15 December 2022

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Top Glove Corporation Bhd is expected to record losses in the second quarter (Q2) of the financial year 2023 (FY23) and the third quarter (Q3) 2023 due to weaker average selling price (ASPs) and slow demand. (NST)

Gamuda Bhd’s medium-term prospects appear bullish, with opportunities in Australia and Malaysia expected to drive growth in terms of its order book. (TheStar)

The possible tariff hike for bigger outfits, including multinational companies, which will allow some direct cost pass-through, is positive for Tenaga Nasional Bhd's (TNB) cash flow but the Imbalance Cost Pass-Through (ICPT) payment remains the overhang issue, said analysts. (TheEdge)

RHB Retail Research said Aemulus Holdings Bhd is set to propel northwards as it staged a breakout above the recent high of 48.5 sen on Wednesday on surging trading volume, forming a “higher high” bullish structure. (TheEdge)

Chung Chee Yang, who emerged as Cypark Resources Bhd's single largest shareholder in September when his shareholding surpassed that of its co-founder-cum-chief executive officer Datuk Daud Ahmad, has continued to raise his stake in the company by acquiring more shares in the open market. (TheEdge)

Innoprise Plantations Bhd will continue to outperform, even though crude palm oil (CPO) prices are in freefall. (NST)

Spritzer Bhd is banking on demand for bottled mineral water growth in 2023 on the back of a continued rise in economic activities and Malaysia's various festivals. (NST)

Shares of DRB-HICOM Bhd jumped as much as more than 10 per cent today following news that its largest shareholder Tan Sri Syed Mokhtar Albukhary is conducting a strategic review of the conglomerate. (NST)

Pestech International Bhd’s subsidiary Pestech (Cambodia) Plc has entered into a memorandum of understanding (MoU) with Attwood Investment Group Co Ltd (AIG). (TheStar)

Berjaya Land Bhd’s (BLand) wholly-owned subsidiary Nural Enterprise Sdn Bhd (NESB) has disposed of a 1.21% equity interest in Berjaya Food Bhd (BFood) for RM19.67mil cash via a direct business transaction. (TheStar)

Wong Engineering Corp Bhd sees a bright near-term outlook for its manufacturing segment, which is its primary revenue source, as customer orders and fluctuations in input cost stabilise. (TheStar)

Mesiniaga Bhd has accepted a contract from the Companies Commission of Malaysia to supply and maintain a corporate registry system valued at RM43.62mil. (TheStar)

Nylex (Malaysia) Bhd was the fourth most-active stock as trading volume spiked more than nine times in Thursday’s (Dec 15) morning trade, amid the announcement on the construction of a light rail transport (LRT) system in Johor Bahru. (TheEdge)


Source: New Straits Times, The Edge Markets, The Star 15 Dec 2022

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