Tafi Industries Bhd’s wholly-owned unit TAFI Home and Office Sdn Bhd (TAFISB) has accepted a turnkey construction contract from Magna Park Sdn Bhd (MPSB) for a sum of RM115mil. MPSB is an indirect wholly-owned subsidiary of Magna Prima Bhd. (TheStar)

Pos Malaysia Bhd has issued its first non-fungible token (NFT) stamps for collectors, in conjunction with the month-long National Day and Malaysia Day celebrations. In a statement, Pos Malaysia said a limited edition NFT stamp is redeemable complimentary with every purchase of the #Empatbelas Setem Ku special edition stamp folder set, which is available for sale at post offices or online at www.pos.com.my, retailing at RM59.00 each. (TheStar)

AmBank has inked green financing facilities with Kerjaya Prospek Group Bhd's property development arm, Kerjaya Proskpek Property Sdn Bhd. In a statement today, the banking group said the RM100 million financing facility would fund the development of Courtyard by Marriot Hotel at Bloomsvale, an upcoming mixed development located in Old Klang Road here. (NST)

Korean construction and project management company Samsung Engineering Co Ltd, together with SEDC Energy, Sarawak Energy Bhd, Lotte Chemical and Posco Holdings, signed a memorandum of understanding (MoU) to study the potential of supplying at least 900 megawatts (MW) of hydro-based renewable power for the H2biscus project in Sarawak, Malaysia. Today's MoU builds upon the earlier MoU signed between Samsung Engineering, Lotte Chemical, and Posco Holdings with SEDC Energy for the H2biscus project earlier this year. (NST)

Ni Hsin Group Bhd's subsidiary, BlackBixon2Go Sdn Bhd (BB2GO), has recently launched its first BlackBixon Café & Restaurant in Kuala Lumpur. BB2GO managing director Khoo Chee Kong said that, following years of planning, the BlackBixon Café & Restaurant is a culmination of a dream that started with the distribution of healthy coffee beverages. (NST)

Pertama Digital Bhd (PDB) has appointed Datuk Seri Dr Nik Norzrul Thani as its new director and member of the board. The company said this appointment is the first since the disposal of PDB's stake in China-based textile company BeTop Group Ltd and marks a significant step in the transformation of PDB. (NST)

Evergreen Fibreboard Bhd's overall demand forecast remains positive, as rising US-China tensions continue to benefit Evergreen as more US furniture purchasers shift away from China and toward Southeast Asian (SEA) manufacturers, notably Malaysia. This has resulted in many Chinese furniture makers moving out of China to set up their factories in SEA, which is a positive for Evergreen as these are potential new customers for the company to supply panel boards, given their proximity to Malaysia. (NST)

Bank Islam Malaysia Bhd (BIMB) has appointed Firdaos Rosli as its new chief economist, effective Sept 1. In a statement, Bank Islam said Firdaos took over the reins from Mohd Afzanizam Abdul Rashid. (TheStar)

Energy solutions provider T7 Global Bhd expects the Bayan Mobile Offshore Production Unit (MOPU) to contribute 50 per cent to the company's revenue annually, group chief executive officer Tan Kay Zhuin said. He said Bayan MOPU is expected to start contributing to the company's revenue in the last quarter of 2022. (NST)

Edotco Group Sdn Bhd, the wireless tower business of Malaysian telecommunications group Axiata Group Bhd, is considering a share sale that could raise as much as US$600 million (RM2.7 billion), according to people familiar with the matter, as it seeks to turbocharge its growth. (TheEdge)

Kenanga Research has reiterated its 'underweight' call for the gloves sector, noting that sector players have been hit by lower average selling price (ASP), sales utilisation and crimped margins. In a research note, it said the recent round of results reported by glove makers suggested that their earnings have yet to bottom out with the ASP expected to continue declining, and the situation is exacerbated by low plant utilisation due to softening demand. (NST)

Hong Leong Investment Bank Bhd (HLIB) has maintained its 'overweight' rating for the plantation sector with the crude palm oil (CPO) price expected at up to RM5,500 per tonne until 2024. In a note, the investment bank said following the recent second quarter of 2022 (Q2 2022) results, six out of eight planters had released results that met its expectation. (TheStar)

Apex Securities Bhd said Mah Sing Group Bhd rose 1.5 sen to 63.5 sen on Wednesday to break the 100-day moving average at 62.3 sen. In a technical stock pick note on Thursday (Sept 8), the research house said Wednesday’s gains broke the downtrend from RM1.09 in April 2021, and also the previous significant resistance. (TheEdge)

Kenanga Research has maintained its “overweight” rating on the healthcare sector and said there was a slight sequential deterioration in the recently concluded 2QCY22 results season (against expectations). In a note on Thursday (Sept 8), the research house however said it believes that the healthcare industry will continue to enjoy growth, supported by growing healthcare expenditure, rising medical insurance coverage, and an ageing population demographic. (TheEdge)

RHB Small Cap Asean Research has maitained its “buy” rating on Kelington Group Bhd (KGB) at RM1.36 with a higher target price (TP) of RM1.71 (from RM1.69) and raised its forecasts on incrementally higher order book replenishment assumptions and after baking in the new 10-year on-site gas supply contract. In a note on Thursday (Sept 8), the research house said its target P/E is lowered to 25x from 28x, reflecting a more cautious sector sentiment. (TheEdge)

RHB Retail Research said SAM Engineering & Equipment (M) Bhd is eyeing to resume its uptrend above the consolidation level, after it retested the RM4.48 resistance level recently while inching above the 21-day average line. In a trading stocks note on Thursday (Sept 8), the research house said that supported by the “higher low” bullish pattern within the consolidation levels, it is likely that the stock breaches the resistance level in the coming sessions. (TheEdge)

RHB Retail Research said BP Plastics Holding Bhd is set to propel upwards as it rebounded from the recent pullback, breaching above the RM1.42 resistance on surging trading volume, forming a “higher high” with long bullish candlestick. In a trading stocks note on Thursday (Sept 8), the research house said the bullish bias above the breakout level may take the stock to the next resistance of RM1.60, which is also April 24’s high, and followed by RM1.66 or the high of March 1. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 8 Sep 2022

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