MQ Market Updates

MQ Market Updates - 5 August 2022

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Publish date: Fri, 05 Aug 2022, 05:25 PM

TWL Holdings Bhd has signed a supplemental sale and purchase agreement to acquire three parcels of land in Petaling Jaya for RM45 million. The company plans to develop affordable housing under the Rumah Selangorku scheme for all three parcels of land for a total gross development value (GDV) of RM624 million. (NST)

Malaysia Smelting Corp Bhd's (MSC) net profit jumped 13.5 times to RM39.5 million in the second quarter (Q2) ended June 30, 2022, from RM2.9 million a year ago. The tin miner and metal producer said revenue also rose 25 per cent to RM408.8 million in Q2 2022 from RM327.1 million last year. (NST)

Kelington Group Bhd’s wholly-owned subsidiary, Kelington Engineering (Singapore) Pte Ltd has bagged a RM117mil contract from a customer in Singapore. In a filing with Bursa Malaysia, the integrated engineering solutions provider said the contract involved undertaking bulk and speciality gas system distribution works for a world leader in innovative memory solutions’ fabrication facilities in Singapore. (TheStar)

UEM Sunrise Bhd has acquired a parcel of freehold land in Jalan Sultan Yahya Petra (formerly known as Jalan Semarak), Kuala Lumpur, for RM384.04 million. The property developer said its indirect wholly-owned subsidiary, Lucky Bright Star Sdn Bhd, has entered into a sale and purchase agreement (SPA) with Nippponkey Sdn Bhd for the land acquisition. (NST)

HSS Engineers Bhd said a joint-venture (JV) between HSS Integrated Sdn Bhd (HSSI) and HSS Engineering Sdn Bhd (HSSE) has been appointed as the management consultancy services provider for the Mass Rapid Transit 3 (MRT3) Circle Line project valued at RM997.9 million. HSS Engineers said the JV, between its associate company, HSSI, and its wholly-owned subsidiary, HSSE, have accepted the Letter of acceptance from MRT Lingkaran Sdn Bhd on Thursday. (NST)

Unique Fire Holdings Bhd (Unique Fire) has made its debut on the ACE Market of Bursa Malaysia Securities Bhd today, opening at 21 sen per share. About 5.41 million shares were traded at the opening bell. The group's listing was the 23rd on Bursa Malaysia and the 16th on the ACE Market for 2022. (NST)

Syarikat Takaful Malaysia Keluarga Bhd's (STMB) first half of 2022 (1H22) results came within RHB Research's expectations, despite higher fair value losses on its investments. The research house said STMB had recorded a net profit of RM156.4 million in 1H22, making up 48 per cent of its and the street's full-year estimates. (NST)

MR DIY Group (M) Bhd’s (MR DIY) steady store expansions and its omni-channel strategy will boost its profitability. Hong Leong Investment Bank said for financial year 2022 (FY22), Mr DIY has opened 93 new stores — 52% of the group’s target of 180 additional stores for the year. (TheEdge)

Metronic Global Bhd expects to generate RM100 million gross mm merchandise turnover over five years from its venture into Internet of Thing through wholly-owned Metronic Integrated System Sdn Bhd (MISSB). MISSB provides end-to-end engineering and maintenance solutions in the facilities management industry such as Intelligent Building Management System, Building Management System, Energy Management System, Security and ICT Systems. (NST)

LPI Capital Bhd may see headwinds with the further liberalisation of fire insurance possibly compressing top line and normalising claims ratio on bottom line, says Kenanga Research. However, the group’s insurance space may benefit from rising demand as the economy recovers, according to the research house. (TheStar)

Capital A Bhd expects all of its planes to be serviced and ready to fly by March 2023, said Chief Executive Officer Tan Sri Tony Fernandes. Currently, fleet capacity stands at 50% out of the total of 205 aircraft, he said. (TheEdge)

Melaka-based property developer Teladan Setia Group Bhd has been issued an unusual market activity (UMA) query by Bursa Securities as its share price climbed to a record high on Friday (Aug 5). The stock pared gains after rising to as high as RM1.17 on Friday. At the time of writing, it was up 0.93% at RM1.08, giving the group a market capitalisation of RM864.78 million. (TheEdge)

TA Securities has set a target price of 41 sen for ACE Market-bound Agmo Holdings Bhd, representing a 57.7% premium to its initial public offering (IPO) price of 26 sen per share. In a note on Friday (Aug 5), the research house said at the IPO price of 26 sen, the homegrown digital solution provider is priced at a trailing price-to-earnings ratio of 12.6 times over its FY22 core earnings per share. (TheEdge)

JF Apex Securities Bhd said Maxis Bhd gained 17 sen to RM3.80 on Thursday (Aug 4) to break the 100-day moving average at RM3.63. In a technical stock pick note on Friday, the research house said Thursday’s gain broke the downtrend from RM4.74 in December 2021. (TheEdge)

RHB Retail Research said Southern Cable Group Bhd is eyeing to resume an uptrend movement as it attempted to surpass the consolidation phase of 38 sen on Thursday (Aug 4), supported by significant trading volume. (TheEdge)

RHB Retail Research said Aemulus Holdings Bhd is poised for an uptrend as it bounced off the 21-day average line and attempted to move past the 61.5 sen immediate resistance on Thursday (Aug 4) — coupled with strong trading volume. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 5 Aug 2022

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