MQ Market Updates

MQ Market Updates - 9 September 2022

MQ Trader
Publish date: Fri, 09 Sep 2022, 05:17 PM

Hextar Technologies Solutions Bhd has obtained a moneylender licence issued under the Moneylenders Act 1951 and the Moneylenders (Control and Licensing) Regulations 2003 from the Housing and Local Government Ministry. In a filing with Bursa Malaysia, Hextar said its wholly-owned subsidiary, Malsuria (M) Sdn Bhd, had obtained the moneylender licence on Sept 5. (TheStar)

IHH Healthcare Bhd's discussions with Ramsay Health Bhd and Sime Darby Bhd over the proposed acquisition of Ramsay Sime Darby Health Care Sdn Bhd have ended without a binding agreement, said IHH and Sime Darby in two separate stock exchange filings on Friday. (TheStar)

MARC Ratings has assigned a preliminary rating of AA-IS(cg) with a stable outlook to Eco World Capital Bhd's proposed Islamic Medium-Term Notes (Sukuk Wakalah) programme of RM1.2 billion. The rating agency said the assigned rating was driven by EcoWorld's strong market position in township development and its consistently healthy sales track record that has engendered strong earnings visibility. (NST)

Public Bank and Public Islamic Bank will increase their standardised base rate (SBR), base rate (NR) and base lending rate (BLR)/ base financing rate (BFR) by 0.25% effective Sept 12, 2022. The bank said the latest increase is in line with Bank Negara's increase in the overnight policy rate by 25 basis points to 2.5% on Sept 8, 2022. (TheStar)

Alliance Bank Malaysia Bhd will raise its standardised base rate (SBR) by 25 basis points from Sept 14, 2022, in line with Bank Negara's revision of the overnight policy rate. In a statement, the bank said its base rate, base lending rate and base financing rate will be increased 25 basis points effective Sept 14, 2022, in line with the central bank's reference rate framework, effective Aug 1, 2022. (TheStar)

Conglomerate Oriental Holdings Bhd (OHB) will be investing RM150 million to build a new hospital, called the Oriental Medical Segamat, in Johor. In a statement today, Oriental Medical Segamat managing director Dr Tan Hui Ling said the construction of the hospital, on a newly purchased 2.36-hectare land, is OHB's second hospital after Oriental Melaka Straits Medical Centre (OMSMC) in Klebang, Melaka. (NST)

Top Glove Corporation Bhd is expected to rebound in the long term as it has paid out a total dividend of RM7.84 billion since 2001, which reflects the company's dedication to sharing its profit with shareholders. Valuevest Ventures noted that the gloves' average selling price (ASP) was declining at a far slower pace, which would assist in cushioning the cost impact moving forward. (NST)

Fraser and Neave Holdings Bhd (F&N) plans to leverage on its products to gain more market share while expanding its footprint, especially in the global halal market. Government and industry relations and halal affairs director Datuk Raffiq Ariff said taking the example of its oyster-flavoured sauce and soya sauce from Sri Nona, the products have great prospects to venture into deeper markets, especially in the Muslim majority population. (NST)

Coraza Integrated Technology is poised to benefit from Penang's robust foreign direct investment and electrical and electronic (E&E) ecosystem. Despite inflation challenges, RHB Research stated that supply chain issues and a potential slowdown in semiconductor demand, Coraza has indicated that there was no cancellation of orders from its customers. (NST)

CTOS Digital Bhd's proposal to acquire a bigger stake in RAM Holdings Bhd is a positive move as it is attractively priced and accretive in nature, said Hong Leong Investment Bank (HLIB) research. CTOS yesterday announced its plan to buy 15.7% and 0.7% RAM stakes belonging to Dragonline Splutions and Deutsche Bank for and RM2.3mil cash respectively, translating to RM28.50 a share. (TheStar)

RHB Retail Research said UWC Bhd is eyeing to propel upwards after it attempted to surpass its consolidation level of RM4.13 on Thursday, above the 21-day simple moving average line. In a trading stocks note on Friday (Sept 9), the research house said if the breakout happens, the bullish bias above that level may bring the counter higher towards RM4.79 or Feb 16’s high. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 9 Sep 2022

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