MQ Market Updates

MQ Market Updates - 06 December 2022

MQ Trader
Publish date: Tue, 06 Dec 2022, 04:46 PM

YTL Corp Bhd wants to transform itself from a "physical company" into a "full digital player" as it leverages its strengths and builds for the future. It is learnt that this vision means putting digitalisation at the forefront of YTL group's different nature of businesses across the domestic and international utilities, construction, cement, hospitality and property industries. (NST)

Lim Seong Hai Capital Bhd (LSH) reported a whopping 408.4 per cent surge in net profit to RM40.32 million for the year ended Sept 30 2022 (FY22) from RM7.93 million in FY21. Group revenue soared 142.2 per cent to RM163.31 million, or a jump of RM95.89 million from RM67.42 million recorded in FY21. (NST)

Analysts are generally bullish about the outlook for telecommunications (telecoms) conglomerate Axiata Group Bhd following the completion of its high profile Celcom-Digi merger earlier this month, saying they like the prospects of the group’s digital and infrastructure businesses, as well as long-term synergies. (TheStar)

Yinson Holdings Bhd's recently secured preliminary floating production storage and offloading (FPSO) Agogo contract was in line with CGS-CIMB's expectations that the company would win the deal from Eni Angola SpA. The firm estimates that Agogo will be worth between 70 sen and RM1 per share to Yinson's sum-of-parts value based on the assumptions that the project capital expenditure (capex) will be US$1.3 billion. (NST)

Public space networked systems provider ITMAX System Bhd’s initial public offering (IPO) has been oversubscribed by 18.2 times.  (TheStar)

Genting Malaysia Bhd said it is investing another US$100 million (RM438.5 million) to acquire convertible preferred stock in Empire Resorts Inc, raising its investment in the New York-based gaming company to US$624.4 million. (TheEdge)

Bursa Malaysia has launched the final two digital guidebooks under the PLC Transformation programme, aimed at transforming Malaysian public listed companies (PLCs) into high-performing organisations.Bursa Malaysia's Guidebook 4 - Being Digitally Enabled, highlights the imperatives, opportunities, benefits, and tools for companies to become digitally enabled. (NST)

There may be minimal impact to Sports Toto Bhd's earnings despite the recent announcement that special draws for numbers forecast operators (NFO) will be reduced in 2023. (TheStar)


Source: New Straits Times, The Edge Markets, The Star 06 Dec 2022

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