NEWS HIGHLIGHTS

• BLD Plantation acquires two Bintulu properties for business expansion
• MN Holdings seeks to raise up to RM37m via private placement for working capital
• ACE market-bound KJTS Group’s IPO oversubscribed by 31.28 times
• Bina Darulaman signs MOU for potential eco-tourism accommodation development in Langkawi
• Ageson appoints independent auditor to look into allegation of suspicious transactions

MACRO BITS

• IMF’s Georgieva sees global growth aided by 2023 tail winds
• Anwar: Govt serious about digital transformation, promoting AI literacy
• Madani govt reforms yielding green shoots, says finance minister II
• Govt agrees to exempt unit trusts from CGT, taxes on foreignsourced income
• Miti secures RM2.84b potential investment from trade mission to Italy
• More Asian property investors want to sell even as rate hikes end
• China’s GDP grew around 5.2% in 2023, Premier Li says at Davos
• China weighs more stimulus with USD139.0b of special bonds
• Taiwan’s investment into China lowest in two decades
• Japan's top business lobby calls for worker pay raises above inflation
• Coming flood of US Treasury issuance unsettles some investors after blazing rally
• ECB maintains cloud of uncertainty over rate cuts
• Euro zone consumers slash inflation expectations - ECB survey
• UK wage growth slows again, offering some relief to Bank of England

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

• Company Update: KERJAYA, VELESTO

Source: Kenanga Research - 17 Jan 2024