NEWS HIGHLIGHTS

• Fajarbaru appointed to develop RM192.0m affordable housing project in Putrajaya
• Sunzen buys 10.0% of Farmer International, vendors guarantee minimum net profit of RM9.6m
• AWC wins RM8.2m contract from Putrajaya Holdings
• Green Packet disposes of 15.0% stake in CSH Solutions for RM3.5m
• Jade Marvel aborts plan to issue RCPS to raise RM80.0m

MACRO BITS

• China warns EU’s economic image ‘at stake’ after new trade curbs
• Steady policy rate with a hint of optimism, but to remain vigilant as economic risks linger (See Economic Viewpoint: BNM MPC Meeting (23 - 24 January))
• Fahmi dismisses claims that diesel, RON95 subsidies to be abolished in second half of 2024
• Malaysia, UAE ink deal on data centre development
• Miti sees semiconductors as 'new oil', eyes further E&E development in northern Peninsular Malaysia
• Geopolitics, elections and policy uncertainty to weigh on China market — financial leaders
• China to start visa-free travel with Singapore and Thailand
• China brushes past US sanctions to form closer trade ties with regional economies
• Thai PM asserts economy is in 'crisis', pledges more stimulus
• US fourth quarter economic growth handily beats expectations
• US business activity picks up in January; inflation cooling - S&P Global survey
• Instant view: ECB keeps rates on hold, Lagarde pushes back on market expectations
• Trade turmoil sparks supply snarls in Europe’s biggest economies

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

• Results Note: PAVREIT
• Company Update: PCHEM
• On Our Radar: BONIA
• Rating Summary
• Economic Viewpoint: BNM MPC Decision, Ringgit Weekly Outlook

Source: Kenanga Research - 26 Jan 2024