NEWS HIGHLIGHTS

• Chin Hin to raise stake in Signature to above 33%, launch MGO for remaining shares

• AME REIT says 3Q net income up 19%, declares distribution of 1.88 sen per unit

• Titijaya Land unit buys Subang Jaya flats from BNM for RM44.5m cash to redevelop into mixed commercial properties

• Salcon’s 60%-owned unit secures RM19.7m sewerage contract in Penang

• Straits Energy secures RM16 mil TNB underground cable contract

MACRO BITS

• OECD raises global growth outlook on US strength

• Malaysia among Apac countries with opportunities amid continued US-China trade, tech competition, says Moody’s

• Greater Klang Valley should become special economic zone, says Amirudin

• Samenta urges govt to allow international graduates to work in Malaysia

• Chinese investment into BRI nations hits highest since 2018

• China's Jan services activity expands at slower pace - Caixin PMI

• Indonesia 2023 GDP growth slows to 5.1% on falling commodity prices

• Thai inflation lowest in nearly three years, but central bank may hold rates

• Powell says Fed can be ‘prudent’ in weighing rate cuts — CBS

• Fed's Kashkari: Strong economy means Fed has time to study data before rate cuts

• American consumers to forge ahead through credit strains and lay-off threats

• Euro zone economy showing some signs of recovery -PMI

• UK rate cut is a question of when, not if, BoE's Pill says

IDEAS OF THE DAY

• Results Preview: GASMSIA

• Company Update: SCIENTX, TCHONG

• Actionable Technical Watch: TOPGLOV

Source: Kenanga Research - 6 Feb 2024