Sarawak Consolidated Industries Bhd (SCIB) has inked a memorandum of understanding (MOU) with PT Semesta Noor Berkarya (SNB) and PT Envy Manajemen Konsultansi (EMK) to explore forming a partnership in the construction of 4G telecommunications towers for Indonesia's outermost regions. It said the project, which comes under Indonesia's telecommunications and information accessibility agency (Bakti), is expected to take three years to complete and involves the construction and installation of 4G telecommunications towers in 3,704 villages. (NST)

The Attorney General's Chambers' (AGC) decision to drop charges against Serba Dinamik Holdings Bhd and four of its executives, and instead fine them, has enabled punitive action to be taken immediately, said Minister in the Prime Minister's Department (Parliament and Law) Datuk Seri Dr Wan Junaidi Tuanku Jaafar. In a written parliamentary reply to Sibu Member of Parliament Oscar Ling Chai Yew, he said while the decision appeared to have absolved the parties of legal liabilities, they were in fact fined RM16 million and paid the amount on May 9. (TheEdge)

Tenaga Nasional Bhd via its New Energy Division (NED) is focused on exploring new markets to grow its renewable energy (RE) portfolio by building capability and gain access to technology and market knowledge, President and Chief Executive Officer Datuk Baharin Din said. (TheEdge)

Better prospects in the gaming business after the Omicron wave in the first quarter (Q1) 2022 would pave the way for Genting Malaysia Bhd to earn significantly in the second quarter (Q2) 2022. Maybank Investment Bank Bhd (Maybank IB) is looking out for differences between pre-and post-Covid operations for Resort World Genting (RWG) as non-members have been allowed to enter the casino since pre-Chinese New Year (February 1, 2022) and social distancing requirements have been eased since Malaysia reached the endemic stage on April 1, 2022. (NST)

BT Investment Capital Ltd, a minority shareholder of Main Market-listed ILB Group Bhd, formerly known as Integrated Logistics Bhd, has filed a lawsuit against the logistics services company and the company's board members in an attempt to block an acquisition that could dilute shares owned by existing shareholders. (TheEdge)

Dufu Technology Corp Bhd expects its hard-disk drives (HDD) revenue stream to remain positive, with cloud demand leading the charge to fuel the group’s growth. It said it is also positive on its non-HDD segment, as the semiconductor and technology hardware capital spending remains strong from domestic equipment exporters. (TheStar)

Mah Sing Group Bhd has announced rebates and discounts worth over RM14.5 million on furniture, fittings, and interior design packages for M Privilege members of M Vertica, KL City and Sensory Residence, Southville City. The rebate is a result of Mah Sing’s partnership with SofaX — an interior design visualisation platform to enhance the group’s MY Mah Sing app. Through the collaboration, homeowners will be able to experience home designing with SofaX’s virtual reality (VR) technology. (TheEdge)

RHB Research remains upbeat on MGB Bhd as it should continue to benefit from the construction orders from LBS Bina Group Bhd. The bank-backed research firm said projects from LBS Bina include the Rumah Selangorku Idaman (Idaman) projects by the Selangor state government, which could exceed the current 7,210 units in the coming years. (NST)

Hong Leong Investment Bank Bhd (HLIB Research) remains upbeat on Dagang NeXchange Bhd's (DNeX) outlook, given its strong foothold in both the front-end semiconductor and upstream energy spaces. DNeX recently announced that it had signed a memorandum of understanding (MoU) via its 90 per cent-owned Ping Petroleum Ltd. with Cerulean Winds to kick start a partnership initiative to deliver a dedicated offshore floating wind turbine for the Avalon greenfield development in the Central North Sea in the UK. (NST)

Research firm Kenanga Investment Bank Bhd is positive on Sapura Energy Bhd's prospects after the company secured a charter and service extension contract from Petroleo Brasileiro SA (Petrobras) in Brazil, especially given its current financially distressed situation. On Tuesday (Aug 2), Sapura Energy has announced that a joint-venture company under its engineering and construction (E&C) segment Sapura Navegacao Marítima SA has been awarded an extension of a charter and service contract by Petrobras in Brazil. (TheEdge)

RHB Retail Research said Public Bank Bhd is looking to propel towards its historical high as it inched higher towards the RM4.69 immediate resistance on Tuesday (Aug 2) following the recent pullback. In a trading stocks note on Wednesday, the research house said if the stock manages to break above that level, the bulls are expected to propel the stock towards the historical high marked at RM4.79 — April 4’s high — before printing a new high at RM5. (TheEdge)

RHB Retail Research said Ecomate Holdings Bhd is set to resume its upward structure as it broke above the 59.5 sen level on Monday (Aug 1) before mildly taking profit on Tuesday. In a trading stocks note on Wednesday, the research house said that supported by the significant trading volumes during the breakout period, the bullish bias above the level is expected to bounce the stock towards 63 sen — Tuesday’s high — before propelling towards the historical high at 69 sen, which was Nov 8, 2021’s high. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 3 Aug 2022

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