NEWS HIGHLIGHTS

• REDtone Digital bags RM398m contract from Mampu

• Cloudpoint eyes becoming data centre solutions provider via stake buy in two data centre specialists

• NPC Resources to sell 7,505 acres of oil palm land in Sabah for RM165m

• Excel Force MSC to buy investment firm Orca Capital for RM18m

• Advancecon bags RM27m earthworks contract for Rawang project

MACRO BITS

• US, China officials to meet in Beijing, furthering economy talks

• PM: Domestic policy crucial to build country’s position, ensure better economic management

• Govt yet to finalise sectors for initial progressive wage policy rollout, says deputy economy minister

• Malaysia needs to cultivate 1,447ha of onions to cut import dependency by 2030

• Felda plans to develop more as a 'circular economy' to generate new income, says chairman

• China’s penny-pinching companies are dealing a blow to growth

• Japan's Dec real wages, household spending fall again

• Japan can retain deflation-fighting mandate even if BOJ ends negative rates, says govt official

• Thai PM repeats call for central bank to cut rates

• Mester sees Fed gaining confidence to cut interest rates later this year

• Fed’s Kashkari says need to see more progress on inflation

• US banks see loan demand rising in 2024, Fed survey shows

• ECB's Vujcic urges rate cut patience, sees 'equilibrium' higher than in past

• Bank of England's Dhingra sees little credibility risk from early rate cut

IDEAS OF THE DAY

• Results Note: HARTA

• Company Update: SLP

Source: Kenanga Research - 7 Feb 2024