MQ Market Updates

MQ Market Updates - 7 November 2022

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Publish date: Mon, 07 Nov 2022, 05:32 PM

Datasonic Group Bhd has bagged a contract from the Ministry of Home Affairs worth RM140 million. The security-related integrated ICT solutions provider said the contract involved the supply of foreign worker cards (I-Kad) to the Immigration Department for 36 months. The contract will commence on Nov 1, 2022, to Oct 31, 2025. (NST)

Microlink Solutions Bhd is strengthening its presence in Vietnam through a partnership with AquaOne Corp. This follows Microlink's existing technology engagement with leading insurance provider Vien Dong Assurance Corporation (VASS). AquaOne is one of the leading water supply and treatment companies in Vietnam. (NST)

GHL Systems Bhd is partnering global cross-border digital payments and marketing solution Alipay+ to enable foreign travellers visiting Malaysia to pay using their domestic mobile e-wallets at over 40,000 retail outlets. In a statement on Monday (Nov 7), GHL said Alipay+ is designed to enable  businesses, especially small and medium-sized ones, to accept a wide range of mobile payment methods from various countries and regions, and better serve global consumers through simple technical adaption. (TheEdge)

Ni Hsin Group Bhd (NHG) will launch the first phase of its TAILG EBIXON electric bikes this month, with the target of producing 15,000 units a year. The company has set aside RM5 million for the investment in EV bikes and plans to direct its sales efforts toward government agencies, government-linked companies (GLCs), universities, fleet management companies, last-mile delivery providers, and end users. (NST)

Tenaga Nasional Bhd (TNB), Malaysia’s state-owned electric utility, is exploring selling a minority stake in a planned renewable energy unit to help fund its expansion into the sector, according to people with knowledge of the matter. The Bursa Malaysia-listed power firm has asked banks to submit proposals and could raise US$300 million to US$1 billion (RM4.74 billion) from potential investors, the people said. TNB hasn’t picked a financial adviser yet, said the people, who asked not to be identified as the process is private. (TheEdge)

Media Prima Bhd has received "Industry Excellence Award for Corporate Governance (CG) Disclosure' at the MSWG-Asean Corporate Governance Award 2021, organised by the Minority Shareholders Watch Group (MSWG). It was Media Prima's second consecutive win after being awarded "Industry Excellence" in the Telecommunications and Media sector at the MSWG-Asean Corporate Governance Award 2020. (NST)

Nestle (Malaysia) Bhd has donated RM200,000 to the Malaysian Red Crescent Society (MRCS) to support relief efforts ahead of the monsoon season. Nestle Malaysia chief executive officer Juan Aranols said the company wanted to support MRCS's preparation efforts ahead of the upcoming monsoon season. (NST)

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Maxis Bhd's nine-month ended Sept 30, 2022 (9MFY22) results are within market expectations, Affin Hwang Capital said. Maxis' 9MFY22 pre-tax profit grew by 1.7 per cent year-on-year (YoY) on higher service revenue (+3.7 per cent) but net profit came in eight per cent weaker at RM942 million due to the prosperity tax. (NST)

Westports Holdings Bhd is expected to register a low single-digit growth in container throughput volume this year despite increasing recession risk, Hong Leong Investment Bank Bhd (HLIB) said. This will be mainly due to the low base effect as Westports' first quarter of 2021 (Q1 FY22) container volumes were affected by supply chain disruptions and route changes by shipping liners. (NST)

Kuala Lumpur Kepong Bhd's (KLK) financial year 2023 (FY23) earnings should trend down with or without a higher stake in UK-based associated company Synthomer plc due to weaker crude palm oil (CPO) prices. Kenanga Research said given that the KLK's full-year results were pending on November 23, FY22 was as good as done. (NST)

HB Retail Research said Hibiscus Petroleum Bhd is set to propel towards its three-month high as it rebounded from the recent pullback to reclaim above the RM1.00 threshold last Friday (Nov 4), forming a “higher high” bullish pattern. In a trading stocks note on Monday, the research house said that coupled with improved trading volume, the stock will likely see buying interest persisting towards the RM1.08 resistance, or the highest level since Aug 30, followed by the next resistance at the RM1.15, or June 17’s high. (TheEdge)

RHB Retail Research said Dagang NeXchange Bhd is poised for an uptrend reversal after it attempted to move past 78 sen last Friday (Nov 4), firming up its position above the 21-day average line with strong trading volume. In a trading stocks note on Monday, the research house said that if a breakout occurs above that level, the buying interest would accelerate to propel the stock towards the 81 sen resistance — the highest level since Oct 5 — followed by the next resistance at the 85 sen, or Sept 13’s high. (TheEdge)

Source: New Straits Times, The Edge Markets 7 Nov 2022

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