Petronas Chemicals Group Bhd (PCG) and US-based fertiliser maker Anuvia Plant Nutrients have entered into an agreement, under which PCG will produce and market Anuvia's fertiliser in the Asia-Pacific region. (TheEdge)

Malayan Banking Bhd (Maybank) has appointed Michael Oh-Lau Chong Jin as Maybank Investment Banking Group (MIBG) chief executive officer, effective December 1, 2022. Oh-Lau will succeed Datuk Ami Moris, who will be retiring. Maybank said Oh-Lau would oversee all investment banking, advisory, research, broking and prime broking services in Malaysia and across MIBG's regional platform. (NST)

Kelington Group Bhd has secured two contracts totalling RM262mil, bringing its new orders year-to-date to RM1.62bil. The integrated engineering solutions provider said the first contract was secured via its wholly-owned subsidiary, Kelington Technologies Sdn Bhd, to provide turnkey design and build services of a bulk liquid terminal in Port Klang from a leading provider of bulk liquid storage services. (TheStar)

Packaging company DS Sigma Holdings Bhd has signed an underwriting agreement with Public Investment Bank Bhd (PIVB) for its initial public offering (IPO) on the ACE Market of Bursa Malaysia in the first quarter of 2023. Besides being the sole underwriter of DS Sigma’s IPO, PIVB is also the principal adviser, sponsor and sole placement agent for the exercise. (TheEdge)

A consortium consisting of MISC Bhd's wholly-owned subsidiary, Portovenere and Lerici (Labuan) Pte Ltd (PLL), has been awarded long-term time charter contracts by QatarEnergy for five additional newbuilds liquefied natural gas (LNG) carriers to be built by Hudong-Zhonghua Shipbuilding (Group) Co Ltd. Besides PLL, the consortium consists of Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha Ltd (K-Line) and China LNG Shipping (Holdings) Ltd (CLNG). (NST)

The cash proceeds from Capital A Bhd's disposal of its remaining stake in AirAsia India (AAI) are expected to strengthen the company's cash coffer and address its ongoing liquidity concern, Hong Leong Investment Bank (HLIB) said. Yesterday, Capital A announced the disposal of its remaining 16.33 per cent stake in AAI for gross proceeds of 1.6 billion rupees (RM89.3 million). (NST)

Perak Transit Bhd’s new substantial shareholder, Datuk Ong Choo Meng, has raised his stake in the company to 7.6% after buying 4.76 million shares on Nov 1 and Nov 2 from the open market. Perak Transit said in a filing with Bursa Malaysia that Ong now holds 53.16 million shares in the company where he emerged as a new major shareholder after buying some 13.73 million shares on Oct 28. (TheStar)

AirAsia X Bhd aims to be back in black by the end of 2023 as demand for air travel continues especially among the middle-income earners who are the main market that the airline serves. The long-haul low-cost carrier's chief executive officer Benyamin Ismail said the last seven years had been a tough job for him as AirAsia X was going through a hard time although it was a profitable airline. (NST)

Borneo Oil Bhd (BornOil) predicts the demand for cement in Sabah and Sarawak to sustain in 2023 as both states steadily return to normality. Currently, Sabah's cement demand is between 1.1 million to 1.4 million tonne annually while Sarawak has about two to 2.5 million tonne. (NST)

Kenanga Research has initiated coverage of HPP Holdings Bhd (HPPHB) with an “outperform” rating at 40.5 sen and target price (TP) of 46 sen based on FY23 PER of 13 times, at a premium to the average forward multiple of its universe of manufacturing stocks of 11.8 times. (TheEdge)

RHB Retail Research said Optimax Holdings Bhd is set to propel towards its historical high after it surpassed the 79 sen immediate resistance on Wednesday (Nov 2), supported by strong trading volume above the 21-day average line. In a trading stocks note on Thursday, the research house said as Wednesday’s closing drew a “higher high” bullish structure, the stock is likely to jump higher towards the 84.5 sen historical high, before possibly printing a new high at 90 sen. (TheEdge)

RHB Retail Research said Sarawak Oil Palms Bhd is set to resume its recent uptrend reversal above the 21-day simple moving average line, as it crossed above the RM2.62 immediate resistance on Wednesday (Nov 2), printing a “White Marubozu” bullish candlestick. In a trading stocks note on Thursday, the research house said that if the stock manages to sustain above that level, the stock may propel higher towards the RM2.80 nearest resistance, or Aug 1's high, followed by the RM3 threshold. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 3 Nov 2022

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