NEWS HIGHLIGHTS

• Sapura Energy slapped with RM256m arbitration claim over alleged contract breaches in Taiwan wind farm project

• Poh Kong bullish on gold prices, awaiting govt’s decision on highvalue goods tax

• Ecomate’s 3Q profit drops 79% on lower revenue, higher operating costs

• Newly listed HE Group bags RM35m power distribution system job from semicon component maker

• DPS Resources partners with Sunview to develop green energy projects

MACRO BITS

• IMF says global 'soft landing' in sight, raises 2024 economic growth outlook

• WTO says its trade growth estimates appear 'overly optimistic'

• Malaysia positioned to punch above its weight — Fadillah Yusof

• Higher global demand to boost Malaysia's semiconductor exports — Tengku Zafrul

• Abang Jo: Singapore to channel data centre investments into Sarawak in exchange for energy

• IMF revises up Asia's growth forecast, warns of China risk

• IMF urges BOJ to prepare for rate hike in case inflation flares

• Singapore says it got USD9.5b in investment pledges in 2023

• US consumer confidence climbs to highest since end of 2021

• US job openings rebound above 9.0m, highest in three months

• Home prices kept rising in November – FHFA

• Euro zone economy lags global growth as Germany struggles

• Euro zone narrowly avoids technical recession in Q4

• IMF cuts UK growth outlook for 2025 after stronger past performance

IDEAS OF THE DAY

• Results Note: CLMT, IGBREIT, SUNREIT

• Company Update: CIMB, SAMAIDEN, UZMA, YINSON

Source: Kenanga Research - 31 Jan 2024