MQ Market Updates

MQ Market Updates - 06 July 2022

MQ Trader
Publish date: Wed, 06 Jul 2022, 05:09 PM

RHB Research expects Genting Malaysia Bhd's earnings to benefit from the continued recovery in the number of visitors to Resort World Genting (RWG) so far in 2022. The bank-backed research house said given the borders of neighbouring countries have opened, the firm thinks Genting Malaysia will likely ramp up efforts to attract tourists from around the region. (NST)

Inari Amertron Bhd is preparing for the annual ramp up of its radio frequency (RF) business in anticipation of the upcoming US-branded smartphone model launch soon in September. (TheStar)

Medical device manufacturer UMediC Group Bhd (UMC), which is en route to list on Bursa Malaysia's ACE Market on July 26, aims to raise RM31.11 million from its initial public offering (IPO).  (TheEdge)

S&P Global Ratings said Tenaga Nasional Bhd's (TNB) financial profile will remain steady despite the government's announcement to keep electricity tariffs unchanged for the period of July-December 2022 in the face of significant increases in fuel and generation costs. (TheEdge)

Petronas Chemicals Group Bhd emerged as Bursa Malaysia's top-turnover or most-liquid stock on Wednesday (July 6) after its share price slumped as much as 9% to its lowest in about seven months. (TheEdge)

HSS Engineers Bhd's 30 per cent-owned associate HSS Integrated Sdn Bhd (HSSI) has bagged a RM16.6 million contract to provide additional supervising consultancy services for section 9 of the East Coast Rail Link (ECRL) from Serendah to Port Klang, Selangor. (NST)

DSR Taiko Bhd made a strong debut on the LEAP Market of Bursa Malaysia Securities Bhd today by opening at 92 sen per share -- a premium of 62 sen (over 200 per cent) over its reference price of 30 sen. At the opening bell, the company -- which specialises in the full spectrum of the durian agribusiness value chain -- saw about 130,000 of its shares traded. (TheStar)

Malaysian Genomics Resource Centre Bhd's subsidiary MGRC Therapeutics Sdn Bhd has entered into a partnership with Rinani Genotec Sdn Bhd to offer sport-based genetic tests. The group said in a statement that the collaboration will see both parties consult and collaborate on sports-based genetic profile testing and the marketing of these services. (TheStar)

Kenanga Research has maintained its “outperform” rating on Gas Malaysia Bhd at RM2.91 with a higher target price (TP) of RM3.40 (from RM3.10) on the back of 15%-23% upgrade in FY22-FY23 net profit forecasts on higher total margin spread assumption of RM2.60/mmbtu from RM2.50/mmbtu-RM2.40/mmbtu. (TheEdge)

Hengyuan Refining Company Bhd is planning to establish a RM5 billion unrated medium-term notes programme, according to the Securities Commission Malaysia’s list of corporate bonds and sukuk under the lodge and launch framework. (TheEdge)


Source: New Straits Times, The Edge Markets, The Star 06 Jul 2022

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