Wellspire Holdings Bhd's made its debut on the ACE Market of Bursa Malaysia with a 43.5 per cent premium at 33 sen versus its issue price of 23 sen. In a statement today, the investment holding company said the opening volume was 12.58 million shares. Wellspire chief executive officer and executive director Mo Guopiao said the company's initial public offering has been well-received. (NST)
Farm Fresh Bhd has entered into a strategic partnership with AEON Big (M) Sdn Bhd to open a new Jom Cha outlet in the retailer's Wangsa Maju store in Kuala Lumpur. The Jom Cha brand debuted in August 2022, and the collaboration with AEON BiG is in accordance with the company's plan to swiftly expand nationwide over the next three years. (NST)
Naza TTDI Sdn Bhd, the property arm of the Naza Group plans to undertake what may be Malaysia's largest initial public offering (IPO) in 2024. According to its chief executive officer Daniel Lim, the property company intended to list on the Main Market of Bursa Malaysia and was also considering forming a real estate investment trust (REIT). (NST)
Kejuruteraan Asastera Bhd's (KAB) wholly owned subsidiary has acquired Future NRG Sdn Bhd's subsidiary, Future Biomass Gasification Sdn Bhd, and its biogas power plant assets for RM15mil. In a statement, the group said it had today signed the sale and purchase of share agreement following from the signing of the term sheet on the proposed acquisition on Nov 9, 2022, as well as the completion of the due diligence process. (TheStar)
PLS Plantations Bhd's 51%-owned unit PLS LESB Sdn Bhd has entered into a heads of agreement with Millennium Agriculture Technology Sdn Bhd (MAT) and its parent, MyFarm Inc Japan, to establish a joint venture to launch a large-scale durian cultivation project in Malaysia. (TheStar)
HSS Engineers Bhd's associate HSS Integrated Sdn Bhd has received a letter of instruction under its consultancy services framework agreement with Yellowwood Properties Sdn Bhd to provide project management services for a new build data centre campus and its electric substation in Sedenak Tech Park in Johor. (TheStar)
Two directors of Boustead Heavy Industries Corp Bhd (BHIC) — Datuk Norliza Abdul Rahim and Datuk Nasarruddin M Zin — have resigned to pursue other interests, effective Jan 16. The two joined the group’s board as independent and non-executive directors on Sept 1, 2020 (Norliza) and Jan 27, 2022 (Nasarruddin).
Malaysian Pacific Industries Bhd (MPI) emerged as the Bursa Malaysia’s top loser on Monday’s (Jan 16) morning trade, down as much as RM1.24 or 3.7% to a low of RM32.50, on the back of a dour outlook for the technology sector. MPI’s share price has declined 21.38% over the past year. At the time of writing on Monday, MPI was trading down 72 sen or 2.13% to RM33.02, giving it a market value of RM6.97 billion. It is currently trading at a historical price-to-earnings (PER) ratio of 21.9 times. (TheEdge)
TSH Resources Bhd's core net profit is expected to erode further in 2022-2024, on the back of lower fresh fruit bunch (FFB) output and production cost assumptions, Hong Leong Investment Bank Bhd (HLIB) said. Post-virtual meeting with TSH recently, HLIB said the plantation group had clocked in FFB output of 857,700 tonnes in the 11 month (11M) of 2022 (-0.8 per cent), and management expects total output of 920,000 tonnes in FY22. (NST)
UMW Holdings Bhd ended 2022 on a high note as subsidiary UMW Toyota Motor Sdn Bhd and associate company Perodua registered strong sales. UMW said the group had delivered a record monthly sales of 41,664 units in December 2022, seven per cent higher than the 39,034 units registered in November 2022. (NST)
Amid the tough business and economic environment, AMMB Holdings Bhd (AmBank) is putting in motion strategies that will help the sixth largest banking group in the country to sustain its earnings for the financial year 2024 (FY24). Group chief executive officer Datuk Sulaiman Mohd Tahir said AmBank is currently at the tail end of its financial year ending March 31, 2023 and its strategies for FY24 and beyond would focus on the small and medium enterprise (SME) segment, environmental, social and governance (ESG) initiatives and digitalisation. (TheStar)
Telekom Malaysia Bhd (TM) will have the flexibility to mitigate the impact of a reduction in the Mandatory Standard on Access (MSAP), in view of its robust wholesale demand, Affin Hwang Capital said. Affin Hwang said TM's wholesale agreements with the access seekers were based on commercial arrangements, including a host of value-added services, or products and services that were not covered under the MSAP. (NST)
Analysts expect higher dividend payouts by Tenaga Nasional Bhd (TNB) for the financial year ended Dec 31, 2022 (FY2022) to FY2024, as it has received the nod to continue with the imbalance cost pass-through (ICPT) mechanism and a government guarantee of RM6 billion, which would ease concerns over TNB’s high receivables going forward. “During our recent discussions with TNB, we gathered that the government guarantee of RM6 billion to support TNB’s working capital, which has received approval from the Ministry of Finance, is pending finalisation of documents,” said CGS-CIMB in a note on Monday (Jan 16). (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 16 Jan 2023
Need a Trading Account?
Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!
Contact Us
Please do not hesitate to contact us if you have any inquiries:
Facebook: https://www.facebook.com/mqtrader
Instagram: https://www.instagram.com/mqtrader
i3messanger: https://messenger.i3investor.com/m/chatmq
YouTube: https://www.youtube.com/channel/UCq-26SGjlQTVQfO7DoEihlg
Email: admin@mqtrader.com
Contact Number: +60128058077
