NEWS HIGHLIGHTS

• AmBank, CGC allocate additional RM400m for SMEs financing

• Sapura Energy JVs win US1.8b contracts for subsea engineering and related services in Brazil

• Pekat inks agreement to acquire stake in local switchgears supplier

• Awantec to strengthen its synergistic offerings to drive growth

• M&A Securities and Newparadigm underwrites Siab’s rights issue with warrants

MACRO BITS

• Key debt ratio resumes rise as global debt burden hits record USD315.0t, IIF says

• Bundesbank chief says EU-China ties need level playing field

• Anwar insists Israeli companies won’t be allowed to operate in Malaysia

• PM launches National Anti-Corruption Strategies (NACS) 2024-2028

• Zafrul: Over 98.0% manufacturing projects approved in 2023 implemented, in planning

• Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

• Malaysia suffered MYR277.0b in loss over five years up to 2023 due to corruption — MACC

• Malaysia anticipates deeper collaboration with China in five key sectors — Fadillah

• China offers cash for urban revamp, testing new ways to boost growth

• Thailand extends visa waiver plan for Indian, Taiwanese tourists

• Fed’s Kashkari questions if rates are high enough to tame prices

• Powell’s public confidence nears historic lows, Gallup finds

• For clues on why the BOE hasn’t cut rates, just head to the pub

• UK construction growth hits 14-month high in April, PMI survey shows

IDEAS OF THE DAY

• Sector Update: Telecommunication

• Results Note: CTOS

• Company Update: OCK, SIMEPLT

Source: Kenanga Research - 8 May 2024