MQ Market Updates

MQ Market Updates - 12 August 2022

MQ Trader
Publish date: Fri, 12 Aug 2022, 05:33 PM

Hibiscus Petroleum Bhd has relinquished its VIC/P57 petroleum exploration permit to the Australian National Offshore Petroleum Titles Administrator (NOPTA) after an unsuccessful farmout exercise. The application to surrender the exploration permit was submitted on Feb 4, through the group's indirect wholly-owned subsidiary Carnarvon Hibiscus Pty Ltd (CHPL) and associate company 3D Oil Ltd. (TheEdge)

Tanjung Ratna Sdn Bhd has appointed Maxis Bhd as its fibre connectivity partner for its upcoming Admiral Residences development. Admiral Residences is a residential condominium located in Kota Laksamana Melaka City, Melaka. In a statement today, Tanjung Ratna said for the next five years, the residents of Admiral Residences would enjoy free Maxis' dedicated 1.5 gigabytes per second (Gbps) internet line managed connectivity. (NST)

MGB Bhd announced that its wholly-owned subsidiary, MGB Construction & Engineering Sdn Bhd (MGBCE), has accepted a letter of award from Kita Sejati Sdn Bhd for the proposed development project worth RM172.34 million. The project involves two blocks of 24-storey serviced apartments comprising 843 units and 211 affordable units; one block of eight-storey building with facility at ground floor and level one; seven-storey podium car park; one guard house; and one refuse chamber. (NST)

Sime Darby Property Bhd (SD Property) has unveiled a RM73.5 million flyover on Jalan Meru in Bandar Bukit Raja, Selangor. The event was officiated by the Selangor trade and industry executive councillor Datuk Teng Chang Khim. The 420-metre flyover is expected to benefit the road users of Jalan Meru, with a dedicated ramp to ensure smoother traffic flow towards the West Coast Expressway (WCE). (NST)

Komarkcorp Bhd’s wholly owned subsidiary, General Labels & Labelling (M) Sdn Bhd (GLLM), has entered into a share sale agreement (SSA) with D’Nonce Technology Bhd for the disposal of 99.9991% of the issued share capital in Komark (Thailand) Co Ltd for RM9.1mil. In a filing with Bursa Malaysia yesterday, Komarkcorp said upon completion of the SSA, Komark Thailand will cease to be a subsidiary of GLLM and indirect subsidiary of Komarkcorp. (TheStar)

Greatech Technology Bhd has entered into a memorandum of understanding with Garreth Finlay and Fergus Hynes for the proposed acquisition of a 60% equity interest in Kaon Automation Ltd. According to the company’s filing with Bursa Malaysia, Kaon Automation, incorporated in Ireland in 2006, is principally involved in the provision of automation solutions for leading manufacturing companies globally in the medical device, automotive, electronics and consumer goods sectors. (TheStar)

China Automobile Parts Holdings Ltd (CAP) has been granted further extension of time of up to Sept 30 to submit its regularisation plan to the regulatory authorities. In a bourse filing on Friday (Aug 12), the company said it received the extension from Bursa Securities on Thursday. (TheEdge)

Shares in major glove makers such as Top Glove Corp Bhd, Hartalega Holdings Bhd and Supermax Corp Bhd retreated on Friday (Aug 12), as the healthcare index of Bursa Malaysia slipped into the red. Top Glove, the world’s largest glove producer, emerged as the most actively traded counter on the local bourse, with its share price dropping below 90 sen. (TheEdge)

RCE Capital Bhd's latest first quarter (Q1) financial year 2023 net profit of RM32.2 million  has come below RHB Research and consensus expectations. RHB Research, in a note today, said year-to-date, the net profit only constituted 24 per cent of its and consensus full-year estimates. (NST)

Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating on KPJ Healthcare Bhd at 87.5 sen with an unchanged target price (TP) of RM1.13 and said its recent meeting with KPJ has further reaffirmed its positive view on the group, owing to the initiatives KPJ has in place to boost its performance going forward. (TheEdge)

RHB Retail Research said CTOS Digital Bhd is set to propel towards the five-month high after it underwent a breakout above the RM1.46 resistance-turned-support on Thursday, forming a “higher high” bullish pattern. (TheEdge)

RHB Retail Research said UWC Bhd is poised for a technical breakout after it bounced off the 21-day average line to close at the immediate resistance level of RM4.06. In a trading stocks note on Friday (Aug 12), the research house said if the stock breaches above that level, forming a “higher high” bullish structure, a bullish bias could emerge to propel the stock upwards towards RM4.40 (Feb 21’s high), followed by RM4.80, Feb 15’s high. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 12 Aug 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
Be the first to like this. Showing 0 of 0 comments

Post a Comment