Malayan Banking Bhd (Maybank) has decided to fully migrate to a more secure authentication method via Secure2u by June 2023 from SMS one-time password (OTP) to heighten online banking security. Maybank said this was in line with Bank Negara Malaysia's steer for banks to migrate from SMS OTP to a more secure authentication for these transactions. (NST)

Betamek Bhd, which is slated to be listed on the Bursa Malaysia’s ACE Market on Oct 26, aims to raise RM33.8 million from its initial public offering (IPO) exercise. Under the listing exercise, Betamek is issuing 67.5 million new shares, representing 15% of the enlarged share capital at an issue price of 50 sen per share. (TheEdge)

Newly-listed SNS Network Technology Bhd has reported a 42.4% rise in net profit to RM8.81 million for the second quarter ended July 21, 2022 (2QFY23), compared to RM6.19 million in the immediate preceding quarter, on the back of higher revenue. The company said revenue rose 19.7% to RM296.93 million, from RM248.16 million in 1QFY23, primarily driven by strong demand for its ICT products. (TheEdge)

CIMB Group Holdings Bhd has established baseline “Scope 3” financed emissions in its Malaysia and Indonesia businesses as part of its environmental transition plans, enabling it to achieve its net zero overall greenhouse gas emissions target by 2050. The baselining encompasses financed emissions of on-balance sheet financing for the group’s wholesale, commercial, and consumer segments in Malaysia and Indonesia, the two largest markets for the group. (TheEdge)

K-One Technology Bhd's wholly-owned subsidiary K-One MediTech Sdn Bhd has received approval from the Medical Device Authority (MDA) under the Health Ministry to distribute and sell silicone adhesive tapes parimarily used for wound care dressing. The group said in a filing with Bursa Malaysia it would sell the silicone adhesive tapes in Malaysia as an authorized representative of China-based manufacturer Wuhan Huawei Technology Co Ltd. (TheStar)

Ageson Bhd's 99%-owned subsidiary Solidvest Properties Sdn Bhd has entered into a memorandum of understanding with Koperasi Belia Nasional Bhd (Kobena) to sell a 9.325-acre tract of land in Gombak, Selangor, for a consideration of RM35mil cash. It said in a filing with Bursa Malaysia, Kobena intends to appoint Solidvest as the developer for a proposed residential development on the land comprising of 56 semi-detached houses and four bungalows, as well as a pump house and suction tank and an electrical substation. (TheStar)

Cosmos Technology International Bhd’s initial public offering (IPO) received a positive response from investors, with its public portion oversubscribed by 58.01 times. A total of 8,328 applications for 756.74 million new shares with a value of RM264.86mil were received from the public, representing an overall oversubscription rate of 58.01 times, it said in a statement. (TheStar)

S P Setia Bhd and Tenaga Nasional Bhd (TNB) kick-started their green initiative partnership with the installation of solar panels on the developer's corporate headquarters in Setia Alam, Shah Alam at a commencement signing ceremony on Wednesday (Sept 28). This is the first phase of S P Setia's green initiatives in partnership with TNB. (TheEdge)

High gearing and working capital constraint continue to cloud the outlook of Sapura Energy Bhd although the group is making progress on its “reset plans.” In the second quarter ended July 31, 2022 (2Q23), the oil and gas services provider narrowed its net loss by 99.8% to RM2.59mil from a year ago despite a poorer performance from its upstream division, SapuraOMV Upstream. (TheStar)

Tenaga Nasional Bhd (TNB) expects the Green Electricity Tariff (GET) quota to increase and be awarded on a yearly basis in 2023. TNB chief retail officer Datuk Megat Jalaluddin Megat Hassan said this is due to the high demand this year during which the quota set was fulfilled in just a few months. (TheEdge)

While Scientex Packaging (Ayer Keroh) Bhd's Myanmar operations continue to face challenging conditions, the group is optimistic of sustaining its performance in the coming financial year. "The group’s expansion plan remains on track and the Group expects to be able to better serve its customers with more innovative and value added products as trends and packaging requirements evolve. (TheStar)

PT Resources Holdings Bhd is confident about maintaining a positive performance for its financial year ending April 30, 2023 (FY23), due to a a rebound in economic activities in Malaysia. In a statement, the group said in view of the pandemic moving to the endemic phase, social and business activities can be seen gaining traction throughout 2022. (TheStar)

Paramount Corp Bhd (PCB) is expected to sustain multi-year growth with property sales, asset monetisation and investment in digital enterprises as the catalysts. (TheStar)

Nestle (M) Bhd (Nestle Malaysia)’s share price rebounded on Wednesday (Sept 28), after falling below RM130 on Thursday (Sept 22), for the first time since 2018. At Bursa Malaysia on Wednesday, Nestle Malaysia’s share price pared losses at RM131.10 at 2:39pm, from its intraday low at RM129.90. (TheEdge)

VS Industry Bhd is expected to have better earnings in the coming quarters from the ramp-up of their utilisation rate as the labour shortage has been remedied. Hong Leong Investment Bank Bhd (HLIB) Research said the majority of the allocated quota of 3,700 foreign workers had come in and this will help VS Industry to ramp-up its utilisation rate. (NST)

RHB Research is upbeat on IHH Healthcare Bhd's prospect given that the mandatory Fortis takeover offer (MTO) hurdles appear to be resolved. The research house said the court had declared IHH Healthcare was not found guilty of any wrongdoing pertaining to the Fortis investment. The Supreme Court also disposed of the contempt of court petition. (NST)

Source: New Straits Times, The Edge Markets, The Star 28 Sep 2022

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