Just three days after Datuk Jovian Mandagie and Sandraruben Neelamagham were appointed as board members in Caely Holdings Bhd, the lingerie maker has announced the retraction of the appointments. In a filing with Bursa Malaysia, Caely cited that “the appointment of director was not put into effect due to miscommunication”. (TheEdge)

Kossan Rubber Industries Bhd founder Tan Sri Lim Kuang Sia had in recent days raised his indirect stake in the rubber glove manufacturer after buying 7.06 million shares in his first Kossan share buy in about three months after the Employees Provident Fund (EPF) sold Kossan shares on the open market as investors evaluated the impact of the Covid-19 vaccine-led economic recovery on the rubber glove manufacturing sector. (TheEdge)

Carlsberg Brewery Malaysia Bhd (CBM) may experience softer demand for its products in the third quarter (Q3) of this year, given the ongoing cost inflationary environment, before seeing an uptick in the fourth quarter (Q4) alongside year-end festivities. Maybank Investment Bank Bhd (Maybank IB) said that due to escalating input costs, CBM has announced that it will be raising product prices for selected stock keeping units (SKU) and brands, effective 1 July 2022. (NST)

Sapura Energy Bhd has secured six major contract wins in Asia Pacific and the Atlantic region with a combined value of RM2.7 billion, of which RM176 million is contributed by its joint venture company. The company said its drilling business segment continues to receive new contracts under the current market conditions and is expected to increase its asset utilisation rate, from the current eight rigs in operations, to eleven rigs by the end of 2023. (NST)

The weakness in Sime Darby Bhd’s share price is a good opportunity for investors to accumulate shares in the conglomerate. At 9.42am, Sime fell two sen to RM2.13. Year-to-date, the counter has fallen some 7.8%. It added that Sime’s EV ambitions have already begun – starting in China, where it has secured after-sales partnerships with new EV original equipment manufacturers (OEM) like NIO, Weltmeister and Li Auto. (TheStar)

Hong Leong Investment Bank (HLIB) Research believes it is an excellent opportunity to accumulate Syarikat Takaful Malaysia Bhd (STMB) stocks on current weakness, especially for those who want a longer-term play in the bright takaful space. The bank-backed research firm continued to like the stock after hearing from STMB's new chief executive officer Nor Azman Zainal, regarding business strategies and believes that the company is in good hands. (NST)

Nova MSC Bhd (NMB) and Cardiac Vascular Sentral Kuala Lumpur (CVSKL) have launched the CVSKLgo mobile app, a customised healthcare app to enhance patients' journey in the post-Covid-19 era. The CVSKLgo mobile app contains valuable features with an easy-to-use user interface (UI) that meets CVSKL's requirements. (NST)

Poh Kong Holdings Bhd’s net profit for its third quarter ended April 30, rose to RM27.59mil from RM24.02mil in the previous corresponding period, spurred by higher revenue and overall uptrend in gold prices. In a filing with Bursa Malaysia, the jeweller said revenue in the third quarter grew to RM366.20mil from RM364.19mil previously. (TheStar)

Kossan Rubber Industries Bhd founder Tan Sri Lim Kuang Sia had in recent days raised his indirect stake in the rubber glove manufacturer after buying 7.06 million shares in his first Kossan share buy in about three months after the Employees Provident Fund (EPF) sold Kossan shares on the open market as investors evaluated the impact of the Covid-19 vaccine-led economic recovery on the rubber glove manufacturing sector. (TheEdge)

Mercury Securities Sdn Bhd is recommending investors to “subscribe” to soon-to-be listed Seng Fong Holdings Bhd at an initial public offering (IPO) price of 75 sen and a target price of 82 sen based on financial year ending June 30, 2023 (FY23) earnings per share of 7.2 sen and a price-earnings ratio of 11.4 times in line with the industrial sector’s one-year forward. (TheEdge)

Kenanga Research has upgraded its rating of Eco World Development Group Bhd (EcoWorld) to "outperform" after it posted a higher net profit for the second quarter ended April 30, 2022 (2QFY22). EcoWorld's net profit increased to RM45.67 million for 2QFY22 from RM42.32 million for 2QFY21 due to higher sales and percentage of project completion achieved, as well as the realisation of cost savings for several completed and nearly-completed phases. (TheEdge)

RHB Retail Research said Pentamaster Corp Bhd is undergoing a consolidation while eyeing an upside breakout. In a trading stocks note on Friday (June 17), the research house said the stock has pulled back from a recent peak to consolidate along the 21-day SMA line. (TheEdge)

RHB Retail Research said AMMB Holdings Bhd is poised to break past the immediate resistance. In a trading stocks note on Friday (June 17), the research house said that the stock has been rising on “higher highs” with “higher lows”, indicating strong buying interest. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 17 Jun 2022

Need a Trading Account?

Contact Us

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.