Property developer Sunsuria Bhd has unbilled sales of RM889 million that will provide earnings visibility for the next two to three years. Sunsuria still has unsold properties with gross development value (GDV) of RM869 million and has targeted to launch projects worth RM574 million in the near term. (NST)
Sunway Real Estate Investment Trust's (Sunway Reit) disposal of its medical properties to Sunway Bhd will result in a gross disposal gain of RM110 million and temporary earnings void for the company. Sunway Reit entered into a conditional sale and purchase agreement with Sunway Healthcare Holdings to dispose of two parcels of leasehold lands with a seven-storey medical centre for RM430 million. (NST)
While The Ministry of Health's extension of Pharmaniaga Bhd's medical supply concession is seen as a positive development, the government could be looking for better rates from the pharmaceuticals company. Pharmaniaga said in a filing with Bursa Malaysia yesterday that the government has given it a six-month interim extension to its medical supply concession, pending the finalisation of a new concession agreement. (TheStar)
Malayan Banking Bhd (Maybank) said it takes allegations of customer data leak "very seriously” and is investigating the claim that there had been one involving the bank. The bank said it is "investigating if these allegations are true since Maybank has not experienced a data breach.” (TheStar)
Tenaga Nasional Bhd (TNB) has announced the resignation of its chairman, Datuk Seri Hasan Arifin, with effect from Jan 1, 2023. In a filing with Bursa Malaysia yesterday, TNB said Hasan, 69, shall also relinquish his chairmanships and directorships in the respective subsidiaries within TNB group of companies. (TheStar)
Hup Seng Industries Bhd chairman Datuk Keh (Kerk) Chu Koh has resigned from the helm of the biscuit maker, effective Dec 30, 2022. Keh, 79, resigned from the post he held since February 2003 due to “personal issues”, according to Hup Seng’s filing with the local bourse on Friday (Dec 30). (TheEdge)
QL Resources Bhd's revenue is projected to increase at a compounded annual growth rate (CAGR) of 9.5 per cent from financial years 2022 (FY22) to FY25, said Affin Hwang Capital. This will be driven by a recovery in export sales from the marine segment from the reopening of trading borders post Covid-19 lockdowns. (NST)
Ranhill Utilities Bhd is a frontrunner to bid for a new 100MW gas fired power plant in Kimanis, Sabah as the state seeks to assume more control of its energy infrastructure. TA Research said Ranhill’s leading role as an independent power producer (IPP) in the power deficient state puts the group in a favourable position to lead the planned project development. (TheStar)
RHB Retail Research said IHH Healthcare Bhd is set for a strong technical rebound as it broke off the two-month high of RM6.10 recently and bounced off stronger on Thursday (Dec 29) — printing a “higher high” bullish structure. In a trading stocks note on Friday, the research house said a bullish bias above that level may bring the stock higher towards RM6.57 — Aug 17’s high — before propelling upwards towards RM6.76 or May 18’s high. (TheEdge)
RHB Retail Research said Ramssol Group Bhd is eyeing a rebound from its recent pullback as it bounced off the 21-day average line and headed towards the 45 sen immediate resistance. In a trading stocks note on Friday (Dec 30), the research house said that if a breakout above that level happens, the stock may resume its uptrend towards reclaiming the recent high of 47.5 sen, ie Dec 19’s high. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 30 Dec 2022
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