MQ Market Updates

MQ Market Updates - 22 June 2022

MQ Trader
Publish date: Wed, 22 Jun 2022, 06:41 PM

Tenaga Nasional Bhd has signed an energy wheeling agreement for the sale, transmission and purchase of electrical energy from Laos to Singapore through Thailand and Malaysia. In a bourse filing, it said the agreement was for a minimum of 30MW up to 100MW using the exsiting interconnections facilities owned by all the countries involved. The agreement is effective for a period of two years starting June 22, 2022. (TheStar)

Mestron Holdings Bhd (MHB) has generated more orders than expected during the first five months (5M) of the year despite the Covid-19 disruption in the first quarter (Q1) of this year. The company recorded a total order book of RM17.5 million during the 5M as the rollout of telecommunication infrastructure gathers speed. (NST)

Handal Energy Bhd has bagged five contracts from its new and existing clients. The integrated oil and gas services provider said its subsidiary, Handal Cranes Sdn Bhd and Borneo Seaoffshore Engineering Sdn Bhd (BSOE), has secured four new purchase orders and one contract extension from its clients. Handal Cranes has accepted a once-off purchase order for the fabrication of a new crane from PT Meindo Elang Indah, an engineering, procurement, construction, and installation (EPCI) contractor from Indonesia for Pertamina. (NST)

UWC Bhd's net profit for the third quarter (Q3) ended April 30, 2022, rose 24.62 per cent to RM28.71 million from RM23.04 million a year ago. UWC's revenue also increased 21.66 per cent to RM87.32 million in Q3 2022 from RM71.78 million last year. The overall improved financial performance directly resulted from UWC's positive orders and demands from the semiconductor industry. (NST)

Deleum Bhd’s wholly-owned subsidiary Deleum Services Sdn Bhd (DSSB) has incorporated a Thailand-based subsidiary to provide software, oilfield and chemical services in Thailand. In a filing on Wednesday (June 22), the upstream oil and gas firm said DSSB on Tuesday (June 21) incorporated Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) under the laws of Thailand. (TheEdge)

Kronologi Asia Bhd's net profit for the first quarter ended April 30, 2022 (1QFY23) slumped 45% to RM2.21 million from RM4.02 million a year earlier on increased operational costs and higher tax. In a bourse filing on Wednesday (June 22), the firm said revenue for the quarter dipped 2.53% to RM57.33 million from RM58.82 million previously, as stringent lockdowns experienced in China during the quarter resulted in commercial and production delays. Earnings per share fell to 0.31 sen from 0.77 sen. (TheEdge)

Top Glove Corp Bhd, the world's largest rubber glove manufacturer by production capacity, has said its capacity expansion will be aligned with global glove demand and supply at a time when demand for the personal protective equipment (PPE) is seen normalising after a surge due to the Covid-19 outbreak, which began in early 2020. (TheEdge)

Tiong Nam Logistics Holdings Bhd has partnered with Saito University College to set up logistics scholarships. The announcement follows the signing of a memorandum of agreement (MoA) between the premier logistics company and Saito UC. (NST)

Shares in Astro Malaysia Holdings Bhd fell 2.13% in the mid-morning on Wednesday (June 22) in line with the broader market after its net profit for the first quarter ended April 30, 2022 fell 29.19% to RM100.02 million, from RM141.25 million a year earlier, due to factors that included higher net financing costs amid unfavourable unrealised foreign exchange loss. (TheEdge)

Kenanga Research is overall positive on CTOS Digital Bhd's plan to increase its stake in RAM Holdings Bhd as it is expected to improve the group's long-term propositions. CTOS's intention to increase its stake in RAM to 55-60% from the current 19.2% could create new opportunities for the group in the bond rating space and enhance its client offerings, it said. (TheStar)

HB Retail Research said Kelington Group Bhd is attempting to stage a rebound after it bounced off strongly from the support while moving towards the immediate resistance of RM1.18 on Tuesday (June 21). In a trading stocks note on Wednesday, the research house said if the stock breaches above that level (which is also above the 21-day average line), the stock may climb further towards the RM1.25 mark or June 8’s high, followed by RM1.30. (TheEdge)

RHB Retail Research said Sedania Innovator Bhd is set to rebound further, after it reclaimed the area above the 21-day average line on Tuesday (June 21) while surpassing the immediate resistance of 42.5 sen, coupled with high trading volume. In a trading stocks note on Wednesday, the research house said if the stock manages to stay above that level, the stock may travel towards Juen 7’s high of 48.5 sen, followed by 51 sen (the high of June 9). (TheEdge)   

Source: New Straits Times, The Edge Markets, The Star  22 Jun 2022

Need a Trading Account?

Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!

Contact Us

Please do not hesitate to contact us if you have any inquiries:

Contact Number: +60128058077 


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.

Related Stocks
Market Buzz
More articles on MQ Market Updates
Be the first to like this. Showing 0 of 0 comments

Post a Comment