MQ Market Updates

MQ Market Updates - 13 January 2023

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Publish date: Fri, 13 Jan 2023, 05:45 PM

Kerjaya Prospek Group Bhd is expected to see a 19.7 per cent year-on-year (YoY) increase in net profit for financial year 2022 (FY22) compared to FY21 on the back of higher revenue. (NST)

Autoparts maker and duty-free goods trader Atlan Holdings Bhd's net profit rose to RM5.91 million for the third quarter ended Nov 30, 2022 (3QFY2023), from RM1.18 million in the corresponding period in FY2022, as its duty-free segment swung back to profit with the return of retail outlets to full operations. The group's revenue grew 30.02% to RM98.38 million from RM75.66 million, its bourse filing showed. Earnings per share improved to 2.33 sen from 0.46 sen. (TheEdge)

KPJ Healthcare Bhd’s newly opened luxurious hospital, Damansara Specialist Hospital 2 (DSH2), will likely turn profitable in two years, driven by the expected rise in health tourists to Malaysia. (TheStar)

RHB Research has lifted Bermaz Auto Bhd's (BAuto) earnings for financial years 2024 (FY24)-FY25 by 14-13 per cent as it raises sales volume assumptions.  RHB Research said Mazda's sales would be boosted by higher completely knocked down (CKD) contributions while Kia would be driven by its new models, especially the upcoming Sportage.  BAuto launched Kia Sorento and Peugeot Landtrek yesterday as part of continuing Kia and Peugeot's growth.  (NST)

Kenanga Research has lowered its financial year 2024 (FY24) earnings forecast for Yinson Holdings Bhd by four per cent to account for the cessation of  floating production storage and offloading (FPSO) Adoon contract. Yinson announced that it had completed its contract for FPSO Adoon, which had been operating at Block OML 123 offshore Nigeria. (NST)

FGV Holdings Bhd is targeting capital expenditure (capex) of more than RM1 billion for the financial year ending Dec 31, 2023 (FY2023), which would be the plantation giant's largest annual capex to date. (TheEdge)

NationGate Holdings Bhd’s share price breached the RM1 mark and jumped 11% in early morning trade on Friday (Jan 13), merely a day after a firm start on the ACE Market of Bursa Malaysia. (TheEdge)

Sunway Bhd's prospects are looking promising, says RHB Research, as the group's key business divisions are poised for improved growth in the ensuing year. (TheStar)

Tenaga Nasional Bhd (TNB) is keen to explore opportunities involving energy solutions related to gas, solar, wind, and hydro as well as battery storage in Indonesia's future capital of Nusantara in East Kalimantan on Borneo Island. (TheStar)

Tune Protect Group Bhd recently held its inaugural "Tech-Focused Corporate Day" for analysts, investors and the media. Themed "Embedded Insurance, Simplified by Tech", the event sought to showcase the group's application programming interface (API) technology developed in-house, MarZ and Zeus, which are being used in more than 60 countries. According to Tune Protect Group CEO Rohit Nambiar, the company's insurance technology (insurtech) platform is a one-stop shop that powers solutions for affinity partners, products, distribution, and partnerships. (TheEdge)

On resumption of trading after a three-week suspension, Serba Dinamik Holdings Bhd saw its share price increase by as much as 150% to 2.5 sen as at 10.15am on Friday (Jan 13), with 126.5 million shares traded. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 13 Jan 2023

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