MQ Market Updates

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


MQ Market Updates - 06 January 2023

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Infomina Bhd is targeting to finalise more contracts with local and foreign customers in the next 3-6 months after the company recently secured a US$28.4 million (RM125.1 million) contract from the Siam Commercial Bank Public Company Ltd (SCB). (NST)

Apex Research has derived a target price of 54 sen for ACE Market-bound TT Vision Holdings Bhd (TTV) based on 20 times price-to-earnings ratio (PER) which is 15% of comparable peers’ average forward PER of 23.5 times and TTV’s financial year 2023 (FY2023) forecasted earnings per share (EPS) of 2.7 sen. (TheEdge)

VS Industry Bhd has allocated a capital expenditure (capex) of RM80 million for its financial year 2023 (FY2023), the group said in a statement on Friday (Jan 6) released after its 40th annual general meeting. This is lower than the RM150 million it had set aside last year, according to reports. (TheEdge)

CGS-CIMB Research sees Thong Guan Industries Bhd as the only direct sector beneficiary of China's lifting of its Covid-zero policy due to its sizable exports to the country. Based on our checks with the plastic packaging companies under our coverage, or more specifically, stretch film producers, the research firm noted that only Thong Guan is a direct beneficiary of China's decision to dismantle its Covid-zero policy from 8 December 2022 onwards. (NST)

Top Glove Corporation Bhd has appointed Chong Su-Lin and Rowina Ghazali Seth as its independent directors effective today. (NST)

Trading in DS Sigma Bhd started on the ACE Market of Bursa Malaysia with a 26 sen or 47.27%% jump over its initial public offering (IPO) price to 81 sen a share on Friday. (TheStar)

Sime Darby Property Bhd’s two-day New Year festival, held at Elmina Central Park in the 5,000-acre City of Elmina, Shah Alam township, managed to draw over 100,000 visitors. The festival was held over the New Year weekend on Dec 31 last year and Jan 1 this year. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 06 Jan 2023

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