Dagang Nexchange Bhd (DNeX) yesterday announced that Tethystronics Technologies Co Ltd had served an originating summons against it and begun an arbitration proceeding against its two subsidiaries DNeX Semiconductor Sdn Bhd (DNeX Semi) and SilTerra Malaysia Sdn Bhd. (NST)

RHB Research views Astro Malaysia Holdings Bhd' 's third quarter (Q3) FY23 results as underwhelming due to seasonally higher advertising expenditure (adex) being offset by lower subscription revenue and higher opex. (NST)

Affin Bank Bhd has sealed a non-binding pact with  Malaysia-China Chamber of Commerce (MCCC) to promote economic and trade co-operation between the two countries. (NST)

On the back of higher sales orders for the first quarter of its financial year, VS Industry Bhd said it expects the financial performance of the group for the coming year to be satisfactory. (TheStar)

RHB Retail Research said Hextar Technologies Solutions Bhd is staging a breakout above the consolidation phase after it bounced off the 21-day average line and pushed past the RM13.80 resistance level on Thursday (TheEdge)

CGS-CIMB Research has discontinued coverage of Scientex Packaging Bhd due to the reallocation of resources. After reviewing its research evaluation, CGS-CIMB said it would no longer cover Scientex Packaging. (NST)

Furniture maker SYF Resources Bhd has obtained conditional approval from the Securities Commission (SC) for a reverse takeover by M&A Securities Sdn Bhd, the stockbroking arm of Insas Bhd. (NST)

Eco World Development Group posted a sales record of RM3.84bil in FY22, which beat its previous record high of RM3.82bil. (TheStar)

Axis Real Estate Investment Trust (Axis-REIT) has raised RM175 million with the completion of its private placement exercise at RM1.75 per unit. (TheStar)

Ni Hsin Group Bhd’s wholly-owned unit Ni Hsin EV Tech Sdn Bhd has inked an agreement with VSD Automation Sdn Bhd for the distribution and market segmentation of TAILG EBIXON EV motorcycles in the local and international markets. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 16 Dec 2022

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