Information and communications technology (ICT) system and solutions provider SNS Network Technology Bhd expects to raise RM90.7 million under its listing on Bursa Malaysia's ACE Market. The company plans to use RM33.4 million (36.9 per cent) from the initial public offering (IPO) for capital expenditure. (NST)

Construction group Gagasan Nadi Cergas Bhd (GNC) had on 26 July 2022, received a letter of award (LoA) from a subsidiary of Paramount Corporation Bhd (Paramount Group) to build affordable high-rise residences in Kemuning Utama, Shah Alam for RM189.8 million. GNC's wholly-owned subsidiary Nadi Cergas Sdn Bhd received the LoA from Paramount Property Development Sdn Bhd to undertake the turnkey contract of designing and developing 929 high-rise residential units in Kemuning Utama township in Shah Alam. (NST)

Opensys (M) Bhd has obtained approval from the Securities Commission for the transfer of its listing from the ACE Market to the Main Market of Bursa Malaysia. The proposed transfer to the Main Market is subject to further approval from Bursa Securities and the extraordinary general meeting on a date to be determined. (TheStar)

Tasco Bhd’s net profit jumped 55% to RM24.43mil in the first quarter ended June 30 (1Q) from RM15.77mil a year ago driven by higher revenue. In a filing with Bursa Malaysia yesterday, it said its revenue rose 56.3% to RM453.56mil in the quarter compared to RM290.05mil in the corresponding period a year ago driven by both its international business solutions (IBS) and domestic business solutions (DBS) segments. (TheStar)

OMS Group Sdn Bhd, a Malaysia-based company that installs cable underwater, is weighing a listing in Kuala Lumpur as soon as next year that could raise as much as US$300 million (about RM1.34 billion), according to people with knowledge of the matter. The company is seeking a valuation of over US$1 billion based on strong earnings growth and increased spending among telecommunications operators on digital infrastructure, said the people, who asked not to be identified as the process is private. (TheEdge)

Sapura Energy Bhd will be able to meet the deadline of its debt restructuring, building on the optimism of its business regularisation, also known as the Reset Plan, group chief executive officer Datuk Mohd Anuar Taib said. Anuar said with the company in the process of refinancing its RM10.3 billion debt, it was in the interest of everybody across the board in working towards resolving the issue. (NST)

CapitaLand Malaysia Trust's second quarter (Q2) 2022 net profit of RM21.5 million came well within expectations, said Maybank Investment Bank (Maybank IB) Research. The research house also said CapitaLand's Q2 2022 net profit and first interim gross distribution per unit (DPU) of 1.95 sen were within expectations. (NST)

Press Metal Bhd's prospect is expected to remain intact in the long run due to its favourable market positioning in the new era of decarbonisation, said RHB Research. The bank-backed research house recently visited Press Metal Bintulu's (PMB) smelting plant in Samalaju Industrial Park and came away feeling upbeat. (NST)

Margin pressure is expected to persist for Kossan Rubber Industries Bhd, given its inability to pass on the cost increase amidst the oversupply situation fully. Hong Leong Investment Bhd Bhd (HLIB Research) said that given the oversupply situation and higher investment costs to construct new manufacturing plants, Kossan had put its expansion plans on hold for now. (NST)

RHB Research maintained its "buy" call on CTOS Digital Bhd and target price of RM2.22 a share as the credit reporting firm posted strong growth in its key accounts and direct-to-consumer segments. Over the first half of the year, the group's profit after tax, amortisation and minority interest (Patami) doubled to RM38.1mil from the same period of last year. (TheStar)

PublicInvest Research Technicals said Bintai Kinden Corp Bhd is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. (TheEdge)

JF Apex Securities Bhd said HB Global Ltd gained 2.5 sen to 13.5 sen on Tuesday to break the 100-day moving average. In a technical stock pick on Wednesday (July 27), the research house said Tuesday’s gain broke the downtrend from 39.5 sen in June 2021. (TheEdge)

RHB Retail Research said Bonia Corp Bhd is poised to resume the uptrend reversal as it rebounded strongly following the recent pullback, heading towards the RM2.31 immediate resistance with a “White Marubozu” bullish candlestick. (TheEdge)

RHB Retail Research said Computer Forms (Malaysia) Bhd is set to propel upwards after having experienced a technical breakout on Tuesday, surpassing the RM1.15 immediate resistance on strong trading volumes and printing a “White Marubozu” bullish candlestick. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 27 Jul 2022

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