MQ Market Updates

MQ Market Updates - 07 December 2022

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Publish date: Wed, 07 Dec 2022, 04:50 PM

Central Global Bhd's (CGB) 70 per cent-owned subsidiary, RYRT International Sdn Bhd, achieved a net profit of RM10.29 million for the six-month financial period from March 1, 2022, to August 31, 2022.  In January this year, CGB signed a profit guarantee agreement when it acquired RYRT, whereby the latter guaranteed to achieve an aggregate audited net profit of RM43 million for two years for FY22 and FY23. (NST)

Solarvest Holdings Bhd has today launched PowerBee, an electric vehicle (EV) charging and mobility solution, to accelerate the adoption of clean, electrified transportation in Malaysia. Chief strategy officer Leon Liew Chee Ing said the launch of PowerBee certainly bodes well with its transformation as a regenerative clean energy expert. (NST)

With anticipated losses in Empire Resorts Inc over the next five years, CGS-CIMB Research said it is negative over Genting Malaysia Bhd's plans to purchase the gaming company' entire 1,510 Series F Convertible Preferred Stock from Kien Huat Realty Sdn Bhd (KHR). (TheStar)

LB Aluminium Bhd’s share price rose more than 5% in active trade early on Wednesday (Dec 7), following the aluminium extrusion manufacturer’s net profit jumping 81% year-on-year for the second quarter ended Oct 31, 2022 (2QFY2023). (TheEdge)

Encore Melaka, a renowned Yong Tai Bhd's (YTB) project, has been selected to host the 32nd Malaysia Film Festival in its first collaboration with the National Film Development Corporation Malaysia (FINAS). Encore Melaka Theatre is in the Impression City of Malacca, a modern theatre constructed by YTB at a high cost. It is an iconic tourism project and an iconic landmark in Malacca. (NST)


Source: New Straits Times, The Edge Markets, The Star 07 Dec 2022

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