QES Group Bhd is set to be transferred to the Main Market of Bursa Securities under the “Industrial Products & Services” sector. In a statement on Tuesday (Dec 19), Bursa Malaysia Securities Bhd said the ACE Market company will be transferred on Friday, Dec 23, and its stock short name will be QES and stock number 0196. (TheEdge)
Selling pressure on financially troubled oil and gas services provider Serba Dinamik Holdings Bhd mounted, after Bursa Malaysia warned of a trading suspension if the company fails to submit its annual report for the financial year ended June 30, 2022 (FY2022). The stock opened unchanged at 1.5 sen on Tuesday (Dec 20). Its share price then tumbled 33.33% to an all-time low of one sen as at the time of writing, with a market capitalisation of RM37.27 million. (TheEdge)
GIIB Holdings Bhd's shareholders who collectively own more than 10% of shares in the group have requisitioned an extraordinary general meeting (EGM) to be convened to remove Wong Weng Yew as director. The shareholders that called for the EGM are Tai Boon Wee, Wong Ping Kiong and Teng Pik Sun. Tai has been GIIB's executive chairman and chief executive officer since Feb 17 last year, while Ping Kiong has been an executive director since August this year. (TheEdge)
Following its proposed merger with Celcom Axiata Bhd which will be completed soon, Digi.com Bhd will be well entrenched in the public sector and migrant worker space, commanding the dominant market share in the mobile market at 43%. Kenanga Research stated it likes Digi based on its competitive pricing and attractive bundling to attract migrant and domestic customers; the rollout of 5G that will likely further boost its subscribers given the absence of Maxis Bhd in this early stage of the rollout and the the superior margins of both Digi and Celcom at five to six percentage points above the industry average of 41% and 42%. (TheStar)
MIDF Research has upgraded its call on Tenaga Nasional Bhd (TNB) from “neutral” to “buy” over the utility’s positive outlook after the government approved the continued implementation of the Imbalance Cost Pass-Through (ICPT) mechanism for the Jan 1 to June 30, 2023 period. (TheStar)
RHB Retail Research said Malaysia Steel Works (KL) Bhd is set to resume its uptrend after it bounced off the 21-day average line, surpassing the 40 sen immediate resistance level on Monday on significant trading volume, moving past above the recent sideways consolidation phase. (TheEdge)
RHB Retail Research said Swift Haulage Bhd is poised to resume its uptrend reversal as it sustained above the 21-day average line following the recent pullback, forming a “higher low” bullish structure. (TheEdge)
Source: The Edge Markets, The Star 20 Dec 2022
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