MQ Market Updates

MQ Market Updates - 01 December 2022

MQ Trader
Publish date: Thu, 01 Dec 2022, 09:11 PM

Glomac Bhd posted a higher net profit of RM11.8 million in the second quarter of its current financial year ending April 30 2023. Group revenue rose to RM78.4 million from RM75.4 million achieved in the corresponding quarter of FY2022. (NST)

Malaysian Resources Corp Bhd (MRCB) registered a net profit of RM23.69 million for the third quarter (Q3) ended Sept 30, 2022 from a net loss of RM32.16 million a year ago. The company's revenue rose RM860.02 million in Q3 2022 from RM137.88 million last year. (NST)

Top Glove Corp Bhd and Hartalega Holdings Bhd are being removed from the FTSE Bursa Malaysia KLCI list of 30 constituents. This follows the December 2022 semi-annual review of the FTSE Bursa Malaysia Index Series by FTSE Russell and Bursa Malaysia Bhd. (NST)

Axiata Group Bhd, Telenor Asia Pte Ltd and Bhd (Digi) have completed the merger of the telecommunications operations of Celcom Axiata Bhd and Digi. Axiata said in a filing with Bursa Malaysia today that it and Telenor would hold equal ownership in Celcom Digi at 33.1 per cent each. (NST)

Kumpulan Perangsang Selangor Bhd (KPS) expects to enhance its future profitability on an enlarged earnings base with the acquisition of a 100 per cent equity stake in MDS Advance Sdn Bhd via its wholly-owned subsidiary, Perangsang Dinamik Sdn Bhd, for RM85 million. (TheStar)

Sime Darby Plantation Bhd (SDP) is disposing of three parcels of land totalling 948.83 acres in Klang, Selangor to Sime Darby Property (Bukit Tunku) Sdn Bhd (SDPBT) for RM618 million. In a filing with Bursa Malaysia today, SDP said it has inked a sale and purchase agreement (SPA) with the wholly owned subsidiary of Sime Darby Property Bhd today. (TheStar)

KNM Group Bhd’s proposed €220.8 million (RM1.03 billion) sale of its key subsidiary Borsig GmbH has fallen through, after KNM decided not to extend the deal’s long-stop date from the latest Nov 30 deadline. This raises the question on how the company will meet its debt obligations. It has term loans amounting to US$23 million (RM106 million) and €68.5 million supposedly due at end-November, following a payment extension previously. (TheEdge)

Get recurring rewards by simply referring people: Join MQ Affiliate (free)

Sime Darby Property Bhd has cautioned that the property sector will face hard times next year, dragged by labour shortage and higher interest rates globally. Group managing director Datuk Azmir Merican said while its strong sales momentum should continue, SD Property's total sales for financial year 2023 (FY23) would unlikely be better than this year. (NST)

Bursa Malaysia Securities has frozen the upper limit price of Ralco Corp Bhd shares at RM1.24, after the counter traded at static limit up prices for two consecutive days. Ralco rallied 93.75% or 60 sen to close at RM1.24 on Wednesday (Nov 30), its highest level since Feb 22, when it hit RM1.25. (TheEdge)

LYC Healthcare Bhd, via wholly-owned LYC Nutrihealth Sdn Bhd, has entered into an exclusive distribution agreement with CuraLife Spain S.L.U to distribute a diabetic supplement product known as Curalin in Malaysia and Singapore. Manufactured in the European Union and the United States, Curalin is a herbal dietary supplement with proven efficacy in promoting a healthy glycemic response and energy levels. (NST)

EP Manufacturing Bhd (EPMB) has appointed automotive product specialist Lim Sim Yee as its new acting chief executive officer effective from today. Lim, previously involved in developing Mercedes-Benz's market presence in China, will play a key role in strengthening EPMB across all of its business verticals. (NST)

YLI Holdings Bhd is disposing of two parcels of freehold land in Penang to ZW Packaging Sdn Bhd for RM17.31 million in cash.  In a bourse filing, YLI said the two pieces of land have a combined size of 4.675 acres, both located in Seberang Perai Tengah. The proceeds from the disposal will be used to upgrade machinery, and to fund the working capital requirement, as well as repayment of bank borrowings. (TheEdge)

Shares in Dagang NeXchange Bhd (DNeX) fell by as much as 4.31% or 2.5 sen to 55.5 sen in active trade on Thursday (Dec 1). The counter saw 59.26 million shares changing hands, making it the day's seventh most actively traded stock on Bursa Malaysia. (TheEdge)

 Infomina Bhd has jumped 53.3% to 82 sen a share at the end of Thursday (Dec 1) after the stock closed at 53.5 sen last Friday, the day it made its ACE Market debut. The information technology solution provider was traded at 62 sen to 85.5 sen a share on Thursday. It was the most active counter on Bursa Malaysia, with some 173.3 million shares exchanged. (TheEdge)

Source: New Straits Times, The Star 01 Dec 2022

Need a Trading Account?

Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!

Contact Us

Please do not hesitate to contact us if you have any inquiries:

Contact Number: +60128058077 


The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

Related Stocks
Market Buzz
More articles on MQ Market Updates
Be the first to like this. Showing 0 of 0 comments

Post a Comment