NEWS HIGHLIGHTS

• TIME dotCom posts record profits, dividend for FY2023

• Sarawak Oil Palms 4Q net profit more than doubles as output, volume rise

• Datasonic posts RM16.5m net profit in Q3

• KAB proposes to buy Kedah mini hydropower

• Bina Darulaman's FY2023 net profit more than doubles to RM12.7m

MACRO BITS

• Global oil demand to grow by 1.9m bpd in 2024, says Wood Mac

• India's wheat, rice output to drop in 2023/24, government says

• Broad money supply sustained; loan growth surged to a 15-month high (See Economic Viewpoint: Malaysia Money & Credit)

• Federal govt debt climbed 8.6% to RM1.17t at end-2023 — MOF

• Putrajaya expects RM700.0m annual revenue from high-value goods tax

• Taiwan revises up 2024 GDP growth forecast as exports recover

• Thai Jan factory output shrinks for 16th month, auto production drags

• BOJ policymaker calls for overhaul of ultra-loose monetary policy

• Services drive US prices higher in January; inflation gradually cooling

• Fed's Goolsbee: policy 'restrictive,' more disinflation likely

• US pending home sales fall in January as high mortgage rates deter buyers

• US House approves bill to avert government shutdown

• Euro zone inflation dips but stubborn core prices may worry ECB

• ECB needs to stay the course until more comforting wage data, says Nagel

IDEAS OF THE DAY

• Sector Update: Banking

• Results Note: AFFIN, AIRPORT, BIPORT (RISE), CAPITALA, CIMB, DRBHCOM, ENGTEX (RISE), IHH, KERJAYA, NATGATE, OMH (RISE), PHARMA, QL, SPSETIA, TCHONG, WCT

• Company Update: GHLSYS, HSPLANT, KGB, SLVEST, UZMA, WASCO

• Rating Summary

• Economic Viewpoint: Asia FX Monthly Outlook, MY Money & Credit, Ringgit Weekly Outlook

Source: Kenanga Research - 1 Mar 2024