NEWS HIGHLIGHTS

• United Plantations sees palm oil prices ranging between RM3,850 and RM4,250 in 2024

• Nextgreen Global eyes placement of 102.6m shares for RM92m to fund green tech park projects

• IWCity, PLS Plantations in talks with China state-owned firm to develop industrial park, innovation hub in Johor

• Fajarbaru bags RM121m job to build clubhouse, driving range complex in Johor Bahru

• TRC Synergy books RM27m surplus, RM2.4m fair value gain after revaluation of land and buildings

MACRO BITS

• China drops 'peaceful reunification' reference to Taiwan

• Australian companies keen to invest RM24.5b in Malaysia — Anwar

• RM8.7b in FDI drawn by InvestKL in 2023, tripling from prior year

• Govt to mitigate impact of new tax measures on vulnerable groups, Amir Hamzah assures Parliament

• Malaysia's digital creative industry saw RM1.0b in exports in 2022, to grow 8.0% yearly, says Gobind Singh

• KPKM to focus on generating new generation of entrepreneurs in urban farming

• China plans USD139.0b special ultra-long debt for economy

• China vows to 'transform' economy, sets ambitious growth target

• China's services activity growth momentum softens in Feb, Caixin PMI shows

• Fed's Bostic: No urgency to cut interest rates given US economy's strength

• US services sector cools in February - ISM survey shows

• Euro zone business activity moves closer to recovery, PMI survey shows

• UK firms report growth at 9-month high but price pressures mount, PMI survey shows

IDEAS OF THE DAY

• Sector Update: Banking

• Company Update: PPB, SLP

Source: Kenanga Research - 6 Mar 2024