NEWS HIGHLIGHTS

• Globetronics bags RM35.9m contract from Indian company for technical services

• Perdana Petroleum secures extension for four vessel charters, one new contract

• Econpile bags RM65.5m road upgrade jobs in Cameron Highlands

• Awantec's unit wins RM5.0m contract from National Water Research Institute of Malaysia

• Jati Tinggi secures RM22.1m data centre underground cable job

MACRO BITS

• Global air passenger demand off to a strong start in 2024, up 16.6% in January — IATA

• Egypt secures IMF deal after pound plunge, bumper rate hike

• BNM says better external demand boosting exports, supporting growth

• Govt ready to mitigate higher inflation, says Ministry of Economy

• Rafizi: Malaysia can escape middle-income trap if industries explore frontier science, technology

• Govt expected to generate additional revenue of RM3.45b from service tax

• Property sales hit fresh record RM196.8b in 2023; Johor sees highest price rise, says Napic

• Asean summit focuses on maritime security, trade amid South China Sea tensions

• Chinese investors rush abroad, hitting outbound investment limit

• Powell reiterates Fed needs more confidence on inflation to cut

• US job openings fall marginally in January

• UK Budget: Hunt and Sunak bet on tax cuts to revive UK election chances

• German exports rise more than expected in January

IDEAS OF THE DAY

• Sector Update: Glove, Healthcare, Plantation

• Company Update: OMH (RISE)

Source: Kenanga Research - 7 Mar 2024