MQ Market Updates

MQ Market Updates - 25 July 2022

MQ Trader
Publish date: Mon, 25 Jul 2022, 05:44 PM

Bintai Kinden Corp Bhd has partnered with Marafie Co to supply piping materials to oil and gas (O&G) companies in Saudi Arabia. To formalise the collaboration, the company said its subsidiary, Bintai Energy Sdn Bhd (Bintai Energy), has signed a marketing and distribution agreement with Marafie. (NST)

Cepatwawasan Group Bhd’s net profit for the second quarter ended June 30, 2022 (2QFY22) rose 66.91% to RM15.81 million from RM9.47 million in the same period a year ago due to a substantial increase in average fresh fruit bunch (FFB) selling price which outweighed the impact of a decrease in its plantation segment's FFB production. (TheEdge)

Reservoir Link Energy Bhd's subsidiary, Reservoir Link Renewable Sdn Bhd, has signed a shareholders' agreement with Sunseap Energy (Malaysia) Sdn Bhd (EDPR Sunseap) and RL Sunseap Energy Sdn Bhd to undertake solar power purchase agreement (PPA) projects in Malaysia. This agreement follows Reservoir Link's joint venture for solar-related projects with EDPR Sunseap back in April 2022. (NST)

Bursa Malaysia Securities Bhd has issued an unusual market activity (UMA) query to Ageson Bhd, over the sharp rise in its share price and volume recently. Ageson's share price has risen in the last two weeks, increasing 67.21% from 30.5 sen on July 14 to 51 sen last Friday (July 22). (TheEdge)

CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched the CIMB Auto Dealer App, a mobile application that enables automotive (auto) loan/financing approval within one minute upon full submission of required documents. In a statement, the bank said the App is the first auto financing platform of its kind in Malaysia, empowering car dealers by enabling fast, secure and seamless digital application submissions and processing for auto financing. (TheStar)

Kimlun Corporation is bracing for a stronger second half (2H) following the pick up of its key project Sabah-Sarawak Link Road and the possibility of project rollout by the government ahead of the 15th General Election (GE15). Kenanga Research noted that the acute labour shortage in the industry had held players back from bidding for new jobs aggressively and they were awaiting a government to-government resolution. (NST)

Malayan Banking Bhd (Maybank), which reported intermittent slowness on its MAE and M2U MY apps earlier on Monday (July 25), said all of the group's services are now back to normal and that customers may perform their banking transactions across all Maybank platforms. (TheEdge)

Malaysia Airports Holdings Bhd (MAHB) signed a Memorandum of Collaboration (MoC) with the Universiti Teknologi Malaysia (UTM) last week to enhance airport operational excellence. MAHB said the collaboration involves 15 focus areas within the fields of airport operations, engineering and technology for the continuous improvement and creation of capacity-building opportunities in managing its network of airports through the exchange of expertise, ideas, information, technology and innovation with UTM. (TheStar)

While the proposed Tobacco and Smoking Control Bill would provide much-needed relief for non-smokers, the move would also fuel the illicit tobacco market. British American Tobacco (Malaysia) Bhd managing director Nedal Salem said the proposed generational smoking ban is effectively a prohibition and has never been tested in the real world. (NST)

Iconic Worldwide Bhd managing director Datuk Tan Kean Tet was awarded the Darjah Gemilang Pangkuan Negeri (DGPN), which carries the title Datuk Seri, in conjunction with the governor of Penang, Tun Ahmad Fuzi Abdul Razak's 73rd birthday celebration. The investiture ceremony took place on 23 July at the head of state's official residence. Born in Penang in 1962, Tan started his career in the aquaculture industry in 1991. (NST)

MIDF Research has adjusted its earnings forecast for financial year 2022 (FY22)-FY23 for Genting Plantations Bhd as elevated crude palm oil (CPO) price is expected to amplify the company's topline. MIDF Research expects the company's topline to grow 24 per cent year-on-year (YoY) and drop six per cent YoY to RM3.9 billion and RM3.7 billion respectively while bottomline to increase 18 per cent and drop 14 per cent to RM547 million and RM470.9 million. (NST)

MIDF Research is keeping its target price on Gabungan AQRS Bhd unchanged at 56 sen a share as the construction and property group inches closer to its replenishment target for the year. Recently, the group announced it had secured a RM66.6mil contract from the Public Works Department to build 24 classrooms for a school in Negeri Sembilan. (TheStar)

Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating on Astro Malaysia Holdings Bhd at 89 sen with an unchanged target price (TP) of RM1.34 and said with the recent launch of Astro’ s addressable advertising alongside its fibre broadband service as a standalone product in May 2022, the group’s long-term prospect seems to be improving. (TheEdge)

RHB Retail Research said AMMB Holdings Bhd is set to resume its uptrend as it jumped to close above the RM3.87 consolidation level on stronger trading volume during the latest session — firming up the positive momentum above the 21-day average line. (TheEdge)

RHB Retail Research said LGMS Bhd is set to propel higher as it experienced a technical breakout last Friday (July 22) — surpassing the 76 sen resistance level on high volume — forming a “higher high” bullish structure. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 25 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:

Contact Number: +60128058077 


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.

Related Stocks
Market Buzz
More articles on MQ Market Updates
Be the first to like this. Showing 0 of 0 comments

Post a Comment