Sunway Malls foresees stronger sales performance in the second quarter (Q2) of 2022, surging by 117 percent compared to pre-pandemic levels. This will be boosted by better Hari Raya sales, endemic phase transition, improved labour market, and stronger domestic and external demand. (NST)

Supermax Corporation Bhd says it has recently completed refurbishment work to upgrade facilities at its dormitories. This is part of Supermax's continuous efforts to meet more international compliance standards since the rollout of its comprehensive foreign worker management policy in January. (NST)

AMMB Holdings Bhd's earnings for its fourth quarter (Q4) ended March 31, 2022, have come in above expectations, supported by credit cost writeback. Maybank Investment Bank Bhd (Maybank IB) said AMMB's Q4 2022 core net profit of RM392 million had brought its financial year 2022 (FY22) core net profit to RM1.2 billion. (NST)

The completion of clinical trials of an Alzheimer's drug by Genting Bhd's unit TauRx Pharmaceuticals Ltd will provide greater profitability for the company. RHB Research said Genting had completed the Phase 3 clinical trial (LUCIDITY) of its Alzheimer's treatment, HMTM, and was moving towards regulatory submission. (NST)

Automotive leather upholstery maker Pecca Group Bhd (PGB) has appointed Foo Ken Nee as the new chief executive officer (CEO), effective today. PGB, in a filing with Bursa Malaysia, said Foo has over 20 years of experience in several key industries, namely pharmaceutical and consumer healthcare, audit and corporate advisory, manufacturing, and supply chain distribution. (NST)

Top Glove Corp Bhd managing director Datuk Lee Kim Meow has been redesignated as a non-independent non-executive director effective from August 1. Succeeding Lee is the company executive director Lim Cheong Guan, who will become MD effective from August 1. (NST)

Teleport, the logistics venture of Capital A, has seen a better outlook backed by its mission to build a stronger infrastructure connecting Southeast Asia. Teleport said it had delivered a strong first quarter with a 58 percent year-on-year (YoY) revenue growth mainly attributed to investment in a freighter-like network, and a continued focus on e-commerce delivery. (NST)

Malaysia Airports Holdings Bhd (MAHB) has indicated that the revision of the operating agreement (OA) as well as the land lease agreement that it is currently negotiating with the government is in the final stage to be concluded. (TheEdge)

MR DIY Group (M) Bhd’s substantial shareholder Creador has disposed of 86.65 million shares in the home improvement retailer. Following the disposal, which took place on May 31, the private equity fund is left with 540.83 million shares or an 8.61% stake in MR DIY, according to the group’s filing with Bursa Malaysia on Thursday (June 2). (TheEdge)

Boustead Holdings Bhd said on Thursday (June 2) that its subsidiary Boustead Naval Shipyard Sdn Bhd (BNS) and the Ministry of Defence (Mindef) have entered into a supplementary contract to remobilize the RM9 billion contract for the delivery of six littoral combat ships. Among others, the remobilization of the project will see a resumption of payment to BNS creditors, namely original equipment manufacturers (OEMs), vendors, and financial institutions, Boustead Holdings said in a filing on Thursday. (TheEdge)

The Malaysia Productivity Corporation (MPC) remains committed to collaborating with FGV Holdings Bhd in implementing and creating additional productivity improvement programmes, especially in FGV's plantation sector. The MPC-FGV collaboration started in 2019 and will continue until 2024 to produce an innovative, skilled, and knowledgeable sustainable workforce in the plantation sector. (TheEdge)

Solarvest Holdings Bhd's shares were up in early trade on expectations of sustained performance in the coming quarters, mainly from the commencement of construction works for large-scale solar 4 (LSS4) projects. At 10.30 am, its shares rose two sen to 74 sen, with 127,000 units transacted. (TheEdge)

AEON Co (M) Bhd has launched its 100-day “Jimat Poket” initiative in collaboration with its business partners as part of measures to tackle the rising cost of living. In a statement on Tuesday (May 31), AEON said the initiative will run from June 1 to Sept 16, 2022. It said the campaign features two bundles comprising essential items such as rice, cooking oil, noodles, crackers, coffee, sugar, and the likes for customers to choose from. (TheEdge)

RHB Retail Research said QES Group Bhd is set to rebound higher as it bounced off the 21-day average line strongly, which exceeded the 60 sen threshold yesterday – coupled with high volume. In a trading stocks note today, the research house said if the buying interest persists, the bulls may drive the stock towards the 64.5 sen resistance, followed by the 66 sen recent high. (TheEdge)

Reservoir Link Energy Bhd (RLEB) announced that the Securities Commission has approved its application to transfer its listing status to the Main Market of Bursa Malaysia from the ACE Market. In compliance with the Main Market Listing Requirements of Bursa Securities, additional information on the company is set out in an enclosed attachment stating that as at May 31, 2022, the share capital of RLEB is RM47.97 million, comprising 290.45 million shares, RLEB said in a filing with Bursa Malaysia on Wednesday. (TheEdge)

Comintel Corp Bhd said its white knight will subscribe to a smaller stake of 56.49% in the company from 72.47% envisioned previously, following a proposed revision to the regularisation plan announced by the company. Comintel, which was planning to place 242.5 million new shares and 70 million redeemable convertible preference shares (RCPS) at 8 sen apiece to raise RM25 million, will see a smaller subscription by JT Conglomerate Sdn Bhd (JTC), controlled by businessman Datuk Tan Kak Seng. (TheEdge)

Syarikat Takaful Malaysia Keluarga Bhd (Takaful Malaysia) is on track to spearhead the takaful industry by leveraging its business resilience for sustainable growth, said group chief executive officer Nor Azman Zainal. He said Takaful Malaysia will focus on maintaining market leadership in bancatakaful, treasury, employee benefits, and general takaful, while establishing a stronger presence in the retail market, strengthening brand position, intensifying marketing initiatives, enhancing the digital ecosystem, and embracing the sustainability agenda that includes value-based intermediation for takaful as part of an initiative to develop the takaful industry further. (TheEdge)

GIIB Holdings Bhd has delayed the appointment of an independent audit firm to look into suspicious transactions flagged by its previously terminated but now reinstated director, saying it is still finalizing the scope of the investigation. In a filing Wednesday, GIIB said its audit and risk management committee is finalizing the scope with shortlisted firms, and that it expects to finalize the appointment by early June. (TheEdge)

TDM Bhd, a subsidiary of the Terengganu state government through the company’s plantation division TDM Plantation Sdn Bhd (TDMP), is exploring a new development of cash crops, namely chili, at Ladang Tayor near here. TDM said in a statement on Wednesday (June 1) that the project in collaboration with the Kuala Langat Area Farmers Organisation (PPK) is in line with the state government’s plan to intensify the local agriculture sector and food industry, besides utilizing areas where there is no oil palm cultivation productively. (TheEdge)

Source: New Straits Times, The Edge Markets 2 Jun 2022

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