NEWS HIGHLIGHTS

• FGV's 2023 net profit shrinks 12-fold on lower palm oil pricesSAM Engineering profit comes off peak in 3Q, sees delayed chip sector recovery

• PMB Technology’s 4Q profit surges amid one-off gain from land disposal

• Hextar Healthcare posts worst year on record

• Cahya Mata Sarawak 4Q net profit up 71% as cement business returns to profitability

• MCE to dispose of land in Setia Alam for RM44 mil cash

MACRO BITS

• WTO chief sees trade missing forecasts on growth headwinds

• US chamber chief visits China in sign of warming business ties

• KEB 2024 a vital govt agenda in boosting bumiputera socio- economy comprehensively — Anwar

• King backs govt's austerity measures, including targeted subsidies

• Productivity and protection for informal workers should be enhanced, says World Bank country manager

• Tourism Malaysia expects increase in tourist arrivals from Indonesia this year

• China hits back at US, EU, UK for Russia-related curbs on its companies

• Japan January corporate service prices rise 2.1% yr/yr, BOJ says

• Indonesia sees 2025 annual GDP growth at 5.3%-5.6%, says planning minister

• US new-home sales rise after downward revisions to past months

• Biden to meet congressional leaders with shutdown clock ticking

• ECB faces bigger problems than the Fed does, Stournaras says

• Facing Chinese EV rivals, Europe's automakers squeeze suppliers on costs

• UK job vacancies fall 15.0% year-on-year in January, Adzuna data shows

IDEAS OF THE DAY

Results Note: AMBANK, BMGREEN RISE, D&O, INARI, KAREX, KPS RISE, LPI, SLP, OPPSTAR, PETDAG, PCHEM, SKPRES, TAKAFUL

Company Update: AEON, PIE

Source: Kenanga Research - 27 Feb 2024