NEWS HIGHLIGHTS

• PA Resources buys land in Kuala Selangor for RM21m to build new factory

• Tune Protect sees RM31m impact on 4Q results as regulator rejects some Perlindungan Tenang Voucher policies

• GFM Services intends to raise RM14.8 mil via private placement for working capital

• Dataprep halts RM40m private placement, mulls other fundraising for Bandung telco infra project

• Jade Marvel says MD has resigned due to ‘other personal commitments’, posts bigger 3Q loss

MACRO BITS

• US says it will act if China dumps goods on global markets

• Banking industry needs to remain competitive in postnormal times — Anwar

• Most Malaysians in Singapore, Brunei are skilled, semi-skilled workers — DOSM

• Miti: Malaysia eyes bigger role in global aviation supply chain

• China’s premier urges ‘forceful’ action to boost confidence

• FDI to China slumps to 30-year low

• Japan's ex-bank regulator warns of 'regime change' impact from BOJ stimulus exit

• Japan December core machinery orders rise, recovery seen limited

• Thai 4Q GDP grows slower than estimate, boosts case for stimulus

• Indonesia will turn to ‘Swiftonomics’ to boost tourism spending

• US to award USD1.5b to GlobalFoundries in chips act grant

• BOE risks deepening UK’s recession, former chief economist warns

• UK lawmakers slam 'lack of clarity' on CPTPP benefits

• Germany likely in recession, Bundesbank says

IDEAS OF THE DAY

• Results Note: DIALOG

• Company Update: TGUAN

Source: Kenanga Research - 20 Feb 2024