Sunway Construction Group Bhd (SunCon)’s unit Sunway Construction Sdn Bhd has been awarded a construction project worth RM278 million from the indirect subsidiary of its parent company Sunway Bhd. The construction job is in respect of the main building works for the proposed development of two blocks of residential condominiums, which consist of a podium, car park, common facilities and swimming pool, located in Bukit Jalil, said SunCon in a filing with Bursa Malaysia. (TheEdge)

Agrochemical businessman Datuk Eddie Ong Choo Meng has emerged as Ipoh-based transport terminal and bus operator Perak Transit Bhd’s second largest shareholder with a 6.923% stake. Ong: I will continue to buy into Perak Transit as I see the company’s shares are being undervalued. In a filing with Bursa Malaysia on Monday (Oct 31), Perak Transit announced that Ong — the CEO of Hextar Group — had surfaced as its new substantial shareholder, after acquiring a block of 13.726 million shares last Friday. The transacted price was not disclosed. (TheEdge)

Electronics manufacturing services (EMS) provider NationGate Holdings Bhd (NHB) has received Bursa Malaysia's approval to list on the ACE Market. Managing director Ooi Eng Leong said the approval for the listing is a significant milestone in the company's journey to becoming a listed entity. (NST)

AirAsia X Bhd (AAX) has been granted a time extension of up to April 28, 2023, to submit its regularisation plan to the regulatory authorities. In a filing with Bursa Malaysia today, AmInvestment Bank Bhd announced on behalf of the Practice Note 17 (PN17) company that Bursa Malaysia Securities had given the extension to AAX vide its letter dated Nov 1, 2022. (TheStar)

AEON Credit Service (M) Bhd, a non-bank financial services provider, has won the most outstanding company in Malaysia for the financials sector in Asiamoney 2022 Asia’s outstanding companies poll for the second consecutive year. In a statement, it said the poll acknowledges public listed companies (PLCs) across the region for their excellence in financial reporting, management team, investor relations and corporate social responsibility initiatives. (TheStar)

Short selling of 7-Eleven Malaysia Holdings Bhd shares under intraday short selling (IDSS) and by proprietary day traders (PDTs) was suspended on Wednesday (Nov 2), after the stock price fell by more than 15 sen or 15% from the reference price, which was the last closing price of RM2.36. (TheEdge)

Farm Fresh Bhd plans to open up to 300 Jomcha shops nationwide under its three-year business plan through wholly-owned beverage unit Farm Fresh Jomcha Sdn Bhd. Farm Fresh expects the beverage unit to be worth about RM100 million by 2025. The dairy company introduced the new milk tea brand Jomcha in August of this year. Currently, there are eight Jomcha locations. (NST)

Tenaga Nasional Bhd (TNB) will be able to recover the current outstanding Imbalance Cost Pass-Through (ICPT) of RM4.8 billion by year-end, Hong Leong Investment Bank Bhd (HLIB Research) said. The bank-backed research firm said that since fuel energy prices remained relatively stable from July 2022 until today, it expects the gap between the estimated and actual fuel energy prices to narrow significantly for the upcoming first half (1H) of the financial year 2023 (FY23) ICPT review. (NST)

Effective Tuesday (Nov 1), there will be adjustments to the Genting SkyWorlds Theme Park's ticket prices, Genting Malaysia Bhd's operating unit Resorts World Genting said in a statement on the group's website. (TheEdge)

Dufu Technology Corp Bhd's share price declined to a low of RM2.09 on Wednesday (Nov 2) morning — the lowest since May 5, 2022, when it stood at RM2.10 — after the company warned of prolonged demand weakness for its hard disk drive (HDD) component. The counter decreased 13.28% or 32 sen and emerged as the third top loser in Bursa Malaysia’s trading session at the time of writing, after Dufu forecasted weaker results in the coming fourth quarter ending Dec 31, 2022 (4QFY2022) when releasing its 3QFY2022 results on Tuesday (Nov 1). (TheEdge)

S P Setia Bhd took the No 1 spot at this year’s The Edge Malaysia Top Property Developers Awards (TPDA). The developer has taken the No 1 spot for the fourteenth time, ever since the awards were established in 2003. S P Setia Bhd also took the top spot in the Best in Qualitative Attributes sub-award. (TheEdge)

Syarikat Takaful Malaysia Keluarga Bhd's (Takaful Malaysia) nine-month net profit of the financial year 2022 (FY22) was largely within expectations, CGS-CIMB Research said. The firm said the result accounted for 74.1 per cent of CGS-CIMB Research's full-year forecast and 75.6 per cent of the Bloomberg consensus estimate. (NST)

RHB Retail Research said FM Global Logistics Holdings Bhd should be set to trend upwards further as it climbed above the immediate resistance of 56.5 sen on improved volume – printing a “higher high” bullish pattern with a “White Marubozu” candlestick. In a trading stocks note today, the research house said that if the stock remains above the immediate resistance point, the stock may head for the 60 sen threshold, followed by 65 sen. (TheEdge)

RHB Retail Research said Jaya Tiasa Holdings Bhd is set to resume its rebound as it inched up and crossed above the immediate resistance level of 60.5 sen yesterday, printing a “White Marubozu” bullish candlestick on improved trading volume. In a trading stocks note today, the research house said that if the stock manages to stay above that level, the bulls are expected to propel it further towards July’s high of 64.5 sen, before testing the next resistance of 67.5 sen. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 2 Nov 2022

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