Digi.com Bhd announced weaker year-on-year (y-o-y) earnings in the second financial quarter ended June 30, 2022, on higher net finance costs and higher tax provision due to Cukai Makmur. Meanwhile, service revenue was impacted by lower contribution from the prepaid segment. In a statement, the telco said said net profit was down 21.39% y-o-y to RM220.04mil while revenue slipped 4.9% to RM1.54bil. (TheStar)

Favelle Favco Bhd’s (FFB) subsidiaries, Favelle Favco Cranes Pty Ltd and Kroll Cranes A/S have received purchase orders with a combined value of RM42.7mil. Favelle Favco Cranes will supply a tower crane to G A Caelli Holdings Trust which is expected to be delivered by the end of 2022. (TheStar)

Pharmaniaga Bhd is to collaborate with China-based Suzhou Ronnsi Pharma Co Ltd to commercialise a halal ovine-based (sheep and goat) anti-coagulant blood clot thinner. A memorandum of collaboration (MoC) was inked between the pharmaceutical company's wholly-owned subsidiary Pharmaniaga LifeScience Sdn Bhd and Ronnsi at a signing ceremony held on Friday (July 15). (TheEdge)

Duopharma Biotech Bhd has teamed up with US-based food-tech company, The Live Green Co, to explore the use of plant ingredients and technology to replace animal, synthetic and ultra-processed ingredients. (TheStar)

PTT Synergy Group Bhd’s wholly owned subsidiary PTT Infra Sdn Bhd has accepted a contract from Tropicana Development (Johor Baru) Sdn Bhd to undertake common infrastructure works in Jeram Batu in Pontian, Johor, amounting to RM53.8mil. The construction group said in a filing with Bursa Malaysia that the works was in respect of Phase 1 of the proposed industrial layout and facilities. (TheStar)

Pavilion Real Estate Investment Trust (Pavilion-REIT), which is proposing to acquire the Pavilion Bukit Jalil mall from Malton Bhd, reveals that the due diligence on the deal is in the “advanced stage.” In a filing with Bursa Malaysia, Pavilion-REIT said that discussions on the terms of the deal, which was first announced in December 2021, are still ongoing. (TheStar)

Malaysian Genomics Resource Centre Bhd (MGRC) has appointed Datuk Seri Dr Chen Chaw Min as its new independent non-executive chairman, effective from July 15, 2022. Chen will succeed Tan Sri Ahmad Mohd Don, who resigned on July 12, 2022. Chen, who was appointed to the board on August 3, 2021, was in the civil service from 1988 until his retirement in February 2021. (NST)

AirAsia X Bhd (AAX), the medium- to long-haul affiliate airline of AirAsia Aviation Group, has to date successfully compensated over 270,000 cancelled bookings caused by the pandemic over the past two years including all RM499 Unlimited Pass holders, with a five-year travel voucher to the full value of the outstanding bookings. The travel voucher can be used to book any AAX flight (airline code D7) immediately for future travel to a number of exciting international destinations currently on sale, AAX said in a statement on Friday. (TheEdge)

Mah Sing Group Bhd unveiled its M Nova's sales gallery in Taman Wahyu, Kepong on Friday (July 15). The mixed development will be officially launched in the fourth quarter of 2022 (4Q22). The three-tower M Nova is sited on a 8.09-acre parcel in Kepong with an estimated gross development value of RM790 million. It also marks Mah Sing's third project from its 2021 land acquisition exercise, which follows the group's M Senyum in Salak Tinggi and M Astra in Setapak projects.

Shares in Cycle & Carriage Bintang Bhd (CCB) were up 12 sen or 4.69% to RM2.68 in the morning trading session on Friday (July 15), as investors reacted to Jardine Cycle & Carriage Ltd's (Jardine CCL) third attempt to privatise CCB at a higher offer price of RM2.70 a share, compared with RM2.40 in its previous offer last year. (TheEdge)

Kenanga Research has maintained its “Market Perform” rating on Bursa Malaysia Bhd at RM6.30 with a lower target price (TP) of RM6.30 (from RM7.05) based on an unchanged 20.0x FY23E PER. In a note on Friday (July 15), the research house slashed its average daily value (ADV) assumptions for Bursa to RM2.00 billion/RM2.10 billion (from RM2.70 billion/RM2.60 billion) for FY22/FY23. (TheEdge)

RHB Retail Research said Annum Bhd is eyeing for a positive rebound above the 21-day average line after attempting to move above the 41 sen immediate resistance yesterday. In a trading stocks note today, the research house said if the stock closes above that level, the stock may climb further towards the next resistance point at 44 sen – the high of July 8 – before heading towards the 50 sen threshold. (TheEdge)

RHB Retail Research said Farm Fresh Bhd is poised for a technical breakout after attempting to hit the RM1.65 consolidation level yesterday – firming up its “higher low” bullish structure. In a trading stocks note today, the research house said if a breakout happens, a “higher high” bullish pattern may emerge to propel the stock towards the next resistance at RM1.70 or the high of May 24. (TheEdge)

Indonesia's temporary freeze order on workers to Malaysia will heavily impact the domestic plantation sector as it is more reliant on Indonesian workers for harvesting activities in the estates—critical for the upcoming peak production months. CGS-CIMB Research said the delay could lead to palm oil production for the second half (2H) of 2022 falling below the level from a year ago. (NST)

Source: New Straits Times, The Edge Markets, The Star  15 Jul 2022

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