Southern Cable Group Bhd targets higher revenue for its financial year ending 31 December 2022 (FY22) as regional demand for cables and wires improves with recovering economic activity. The company has registered three consecutive quarters of export growth since mid-2021 to reach RM7.2 million in the first quarter (Q1) ended 31 March 2022 on higher sales of power cables and wires to Myanmar and Singapore. (NST)

Reservoir Link Energy Bhd has completed the transfer of its listing to the Main Market of Bursa Malaysia after having adhered to all the listing criteria as well as receiving the relevant approvals. The energy related services provider, in a statement, said the transfer to the Main Market will be in effect starting June 27. (The Star)

Hektar Real Estate Investment Trust (Hektar REIT) has achieved an upgraded environmental, social and governance (ESG) rating of 4-star on the FTSE4Good Bursa Malaysia Index (F4GBMI) in the latest June 2022 evaluation. (The Star)

VS Industry Bhd (VSI) fell almost 1% in early trade after its latest quarterly results fell below analysts’ expectations. The integrated electronics manufacturing services (EMS) provider declined one sen, ot 0.98% to RM1.01 with 794,000 shares done. Year-to-date, the counter has fallen some 24%. (The Star)

Hong Leong Investment Bank (HLIB) Research has valued Coraza Integrated Technology Bhd at 76 sen and said it believes Coraza will witness a multi-year growth from: i) Malaysia’s strong engineering supporting industries (ESI); ii) strategic portfolio exposures to the semiconductor, instrumentation, life science and medical devices and aerospace industries; and iii) a better product mix from major customers’ high-margin products. (TheEdge)

PublicInvest Research, which has initiated coverage of Spritzer Bhd with a "neutral" call, said it remains cautious about the group's profit margins due to a rise in resin prices.  Citing data from Grand View Research, the global water market (spring water, purified water, mineral water, sparkling water and others) is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030, said PublicInvest in a note. (TheEdge)

Private property developer Zenith Aim Group plans to debut a commercial real estate investment trust (Reit) or an initial public offering (IPO) in two years, according to its founder and executive chairman Datuk Seri Tew Kim Thin. The commercial REIT would include properties such as hotels, malls and office buildings, Tew told the New Straits Times. (NST)

Pertama Digital Bhd (PDB) is optimistic of setting up the first neobank in Malaysia as early as by the fourth quarter of 2022.  Pertama Digital director of strategy Saify Akhtar said the optimism was based on the company's experiences from working with many banks, as well as the interest from various parties that the industry players had come across. Saify said Pertama Digital was still holding discussions with five local banks before finalising its decision to choose only one bank as its partner. (NST)

RGB International Bhd is targeting to return to the black this year, riding on the back of its booming machine concession, technical support and management (TSM), and sales and marketing and manufacturing (SSM) businesses. The group plans to sell around 1,000 gaming machines this year to its customers in the Asia-Pacific region, generating about US$25mil (RM110mil) in revenue. (The Star)

MIDF Research has initiated coverage of KKB Engineering Bhd at RM1.40 with a “buy” rating and target price of RM1.50 and said the valuation was derived by pegging its FY23F core EPS of 9.7 sen to its target PER of 15.5 times.

RHB Retail Research said Dufu Technology Corp Bhd is poised to rebound higher after bouncing off the 21-day average line last Friday, while moving towards the RM2.90 immediate resistance, on strong volume. In a trading stocks note on Monday (June 27), the research house said if a breakout occurs above that level, the bullish bias may propel the stock towards the RM3 mark, before reclaiming March’s high of RM3.15 (a resistance level). (TheEdge)

RHB Retail Research said Greatech Technology Bhd is set for a counter-trend rebound as it staged a technical breakout above the RM3.70 spot last Friday, surpassing the 21-day average line. In a trading stocks note on Monday (June 27), the research house said if the stock manages to stay above that level, the stock may climb further towards the RM3.87 resistance, followed by RM3.97 or June 3’s high. (TheEdge)

Tenaga Nasional Bhd's (TNB) share price fell to a low of RM8.03 on Monday (June 27) morning, the lowest level since September 2015 based on Bloomberg data. The counter earlier opened at RM8.16, and saw some 1.33 million shares traded at the time of writing. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star  27 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:

Facebook: https://www.facebook.com/mqtrader 
Instagram: https://www.instagram.com/mqtrader 
i3messanger: https://messenger.i3investor.com/m/chatmq 
YouTube: https://www.youtube.com/channel/UCq-26SGjlQTVQfO7DoEihlg 
Email: admin@mqtrader.com 
Contact Number: +60128058077 
 

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.