Eversendai Corp Bhd has won over RM1.6 billion in new contracts as of June 30 this year, according to its group managing director Tan Sri AK Nathan. The group's construction order book stood at RM2.13 billion and was expected to grow further in the coming months, he said. The majority of the projects awarded this year are in the UAE, Saudi Arabia, Qatar, Sri Lanka, India, Singapore and Malaysia. (NST)

Hong Leong Bank Bhd has embarked on a collaboration with Payments Network Malaysia Sdn Bhd dubbed Project Cashless Kampung to transform Sekinchan, Selangor, into the first cashless small town in the country. In a statement, the group said the project will ensure all 24,000 Sekinchan residents have access to full-fledged banking facilities and services and, empowering 800 small business owners to digitalise their businesses through the acceptance of cashless and contactless payments. (TheStar)

Cape EMS Bhd is offering up to 259.7 million shares in an initial public offering (IPO) as it seeks to list on Bursa Malaysia's Main Market, according to its prospectus published on the Securities Commission Malaysia's website on Monday (July 18). Cape EMS, through its subsidiaries, is involved in aluminium die cast manufacturing, electronics manufacturing services (EMS) and supply of electronic products and related activities. (TheEdge)

Ecoscience International Bhd is confident the expansion of downstream activities by Indonesian oil palm companies will underpin its plan to expand its operations there. The integrated palm oil services provider’s executive director Pan Kum Wan said the proceeds raised from its listing on the ACE Market of Bursa Malaysia would be used for the expansion of the company’s production capacity, specifically in Indonesia. (TheStar)

Omesti Bhd will stop treating Microlink Solutions Bhd as its subsidiary with immediate effect. Omesti said in a Bursa Malaysia filing yesterday that this is due to the changes to the board compositions of both Omesti and Microlink and the re-designation of a director in Omesti that was announced yesterday. (TheStar)

MSM Malaysia Holdings Bhd plans to establish strategic warehouses in East Malaysia with sufficient buffer stockpile as part of food security infrastructure to ensure continuity in sugar availability during any crisis, according to its group chief executive officer Syed Feizal Syed Mohammad. In light of a severe sugar shortage in Labuan, Syed Feizal said the group is monitoring the supply especially to East Malaysia to ensure that orders are fulfilled accordingly. (TheEdge)

Shares in 7-Eleven Malaysia Holdings Bhd (SEM) dropped as much as 5% after the convenience store operator was reported as weighing exiting its pharmacy chain, Caring Pharmacy Group Bhd. The stock opened unchanged at RM1.60 before it plunged further to hit a low of RM1.52. (TheEdge)

Kenanga Research has initiated coverage on Nova Wellness Group Bhd with an "Outperform" call and a target price of RM1.09 as the company is poised to record earnings growth driven by its new plants. The firm liked the stock for its integrated business model which encompassed the entire spectrum of the pharmaceutical value chain from product conceptualisation starting from research and development (R&D) to manufacturing and sales. (NST)

Southern Cable Group is set to capitalise on the higher electricity demand following Malaysia's transition to the endemic phase. Hong Leong Investment Bank Bhd (HLIB) analyst Sam Jun Kit said in a note that Tenaga Nasional Bhd (TNB) witnessed electricity demand growth at 4.0 per cent year-on-year in first quarter (Q1) of 2022 for peninsula and expected a full-year growth of 1.7 per cent in 2022. (NST)

RHB Retail Research said Pappajack Bhd is eyeing a rebound above the 49 sen resistance as it closed at that level, bouncing off the 21-day average line. In a trading stocks note on Tuesday (July 19), the research house said if the stock breaches above that level, the stock may climb further towards the next resistance of 52 sen — which was the high of July 4 — before heading towards 54.5 sen, or the high of April 28. (TheEdge)

ECM Libra Group Bhd deputy chairman Datuk Lim Kian Onn, together with people acting in concert with him, managed to secure 41.91% in ECM Libra at the close of the mandatory general offer on Monday for shares they do not own in the group. In a filing with Bursa Malaysia, ECM Libra said as of market close on Monday, Lim and the PAC held in aggregate 201.14 million shares in the group. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 19 Jul 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.