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Daily Highlights-13 January 2021
Market Thoughts
US markets ended flat with slight gains as the benchmark Treasury yield rose, potential stimulus and political turmoil. Meanwhile, European stocks closed slightly lower amid concerns over the coronavirus and US politics.
On the local market, the FBM KLCI lost 5.21 points or 0.32% to 1612.04 points. Following the mixed performances in the US and Europe, the FBM KLCI could hover sideways with support at 1570 points.
Stocks to watch are: Pharmaniaga is partnering with China's Sinovac Life Sciences Co Ltd for the supply of 14 million doses of Covid-19 vaccine in Malaysia. Pharmaniaga expects the vaccine to be distributed to the public by the end of March, according to managing director Datuk Zulkarnain Md Eusope. Under the deal, Pharmaniaga will carry out the fill and finish process of the vaccine developed by Sinovac; MTD ACPI Engineering has won a RM33.44 million construction contract from the Public Works Department in Pahang; Mulpha International's wholly-owned unit Mulpha Australia (Holdings) Pty Ltd has accepted a syndicated credit facility of A$342 million (RM1.07 billion) from Oversea-Chinese Banking Corp Ltd and United Overseas Bank Ltd in Australia to finance the refurbishment works at InterContinental Sydney Hotel and to refinance its existing borrowings; AirAsia said its domestic flights in Malaysia remain operational despite the planned implementation of the Movement Control Order across several states and federal territories; Gas Malaysia has set the average natural gas selling price for the distribution segment of its unit Gas Malaysia Energy and Services Sdn Bhd at RM22.14 per million British thermal units (mmBtu) for the first quarter of 2021, which is RM11.51/mmBtu or 34.21% lower than the 2020 average natural gas selling price; Ho Wah Genting is planning to raise up to RM34.58 million via a private placement for purchase healthcare products and for research and development activities for its healthcare-related business as well as to fully repay a loan from Hong Kong-based Prime King Investment Ltd, which had given Ho Wah Genting a short-term advance for working capital purposes; Handal Energy is looking to raise up to RM11.13 million via a private placement to repay its borrowings and fund its working capital.
Malaysia News & Highlights
Economics
- Malaysia records 1.2% fall in wholesale, retail trade sales for November 2020
Company Development and Outlooks
- Gas Malaysia lowers average natural gas selling price to RM22.14/MMBtu for 1Q21\
- Covid-19: AirAsia says domestic flights operational despite MCO
- Hap Seng Consolidated buys three parcels of land in Labuan for RM205m
- Sime Darby Plantation strives to counter US allegations, restore its reputation
- Controlling shareholder TS Wong, MyEG mop up more shares\
- Pharmaniaga secures 14 million vaccine doses from Sinovac, to be distributed by end-March
- Spring Art suspends ops at two factories after some employees test positive for Covid-19
- Ho Wah Genting plans private placement to fund healthcare business, repay borrowings
- Mulpha's Aussie unit accepts A$342 mil syndicated credit facility\
- I-Stone says 11 employees tested positive for Covid-19
- MAHB's December passenger traffic up 24.18% on lifting of interstate travel ban
- ATTA Global executive director Tan Kim Hee detained by police
- QL’s takeover offer for Boilermech shares extended to Jan 29
- FELDA's takeover offer for FGV to close on Feb 2, 2021
- Handal Energy to raise RM11.13m via private placement to repay borrowings
Contract Secured and Awards
- MTD ACPI clinches RM33.44m contract in Pahang
Foreign News
- Stocks close flat, Goldman Sachs leads banks higher
- European markets close mixed as investors focus on coronavirus, U.S. politics
- Oil hits highest level since February ahead of inventory data (Overnight closing)
- Stock futures little changed as Wall Street awaits clarity from Washington
- Asia's corporate earnings expected to rise 26.4% in 2021, Refinitiv data shows
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