MQ Market Updates

MQ Market Updates - 13 July 2022

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Publish date: Wed, 13 Jul 2022, 05:29 PM

Underground utilities and substation engineering specialist MN Holdings Bhd (MNHB) has secured a contract for the engineering, procurement, construction, and commissioning (EPCC) of high voltage systems and related works for a large-scale solar photovoltaic (LSSPV) plant in Pekan, Pahang, worth RM12.2 million. MNHB's wholly-owned subsidiary MN Power Transmission Sdn Bhd (MPSB) has accepted a letter of award (LoA) from ERS Energy Sdn Bhd (EESB) for its appointment as a sub-contractor for the 50MWAC LSSPV plant at Tanjung Batu. (NST)

Malaysian Genomics Resource Centre Bhd (MGRC) has entered into a strategic partnership with United Doctors Hospital (UDH) for collaboration in genomics and cell therapies. Under the partnership, which is valid for three years, MGRC and UDH will take the necessary steps to encourage and promote cooperation in the sales and marketing of genetic screening tests and cell therapy products, collaboration in research and development (R&D), and other areas of cooperation in genomics and cell therapies to be mutually decided by both parties. (NST)

UMW Group's automotive sales surged 14% in June, underpinned by improved sales by UMW Toyota Motor (UMWT) and its associate company, Perusahaan Otomobil Kedua Sdn Bhd (Perodua). In a statement on Wednesday (July 13), the group said it delivered 30,103 units in June compared with 26,480 units registered in the previous month as it continued to fulfil its encouraging outstanding order book. (TheEdge)

OCK Group Bhd is poised to have positive growth as it rides on demand for telco towers locally and stands to benefit from the 5G rollout in Malaysia. Kenaga Research said OCK was on track to meeting its target of beefing up its telco tower portfolio by 1,100 units in 2022 comprising 800 units in Vietnam, 200 units in Malaysia and 100 units in Myanmar. (NST)

Censof Holdings Bhd completed the acquisition of a 51 per cent stake in GW Intech Sdn Bhd (GWI) yesterday. Following the acquisition, GWI was now a subsidiary of Century Software (M) Sdn Bhd, the company said in a Bursa filing. Both parties had signed a share subscription agreement on Feb 22 for the proposed acquisition. (NST)

IT infrastructure and cybersecurity solution provider Infoline Tec Group Bhd made its debut on the ACE Market of Bursa Malaysia at 33 sen a share, a one sen or 3.13% premium over its initial public offering price (IPO). At the opening bell, the stock saw 16.08 million shares exchanging hands, making it the top traded counter on the Malaysian market. (TheStar)

Singapore-listed SATS Ltd has disposed of its entire 49% stake in Brahim’s SATS Investment Holdings Sdn Bhd (BSIH) for a cash consideration of RM10 million, according to the group’s filing with Singapore’s bourse on Wednesday (July 13). The group said its wholly-owned subsidiary SATS Investments Pte Ltd on Tuesday entered into a share purchase agreement with Dewina Brahim’s Holdings Sdn Bhd and Brahim’s Holdings Bhd for the equity divestment. (TheEdge) 

PublicInvest Research has ascribed a fair value of 38 sen for ACE Market-bound UMediC Group Bhd (UMC) and said that moving forward, apart from strengthening its domestic presence and expanding its product portfolio, UMC intends to develop and commercialise more products under its own brand. (TheEdge)

RHB Retail Research said Classic Scenic Bhd is testing the immediate resistance with high trading volume. In a trading stocks note today, the research house said that the stock has been consolidating sideways recently while volume has been building up. (TheEdge)

RHB Retail Research said SFP Tech Holdings Bhd is retracing to the oversold level and is poised for a technical rebound. In a trading stocks note today, the research house said the stock has been retreating lower lately but we observe during the recent sessions that trading volume is tapering. It said the thinner volume suggests selling pressure is moderating. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star  13 Jul 2022

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