MQ Market Updates

MQ Market Updates - 19 January 2023

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Publish date: Thu, 19 Jan 2023, 05:14 PM

Mah Sing Group Bhd's plans to expand its affordable housing offerings are being viewed positively by analysts, given expectations of healthy demand in the sector. On a recent development, Mah Sing's purchase of two parcels in Puchong measuring 8.213 acres will allow it to expand its M-Series of affordable projects in the Klang Valley with two new projects called M Terra and M Hanna. (TheStar)

Cape EMS Bhd, en route to a listing on the Main Market of Bursa Malaysia, has inked an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) and AmInvestment Bank Bhd. The electronics manufacturing services provider’s initial public offering will comprise 259.7 million shares, with a public issue of 173 million new shares and an offer for sale of 86.7 million existing shares. (TheStar)

PAOS Holdings Bhd believes its current financial year ending May 31, 2023 (FY23) will be more promising on steadier economic measures. The soap manufacturer acknowledged facing higher operational costs exacerbated by the rising cost of wages, utilities, logistics, other operational expenses as well as fluctuations in foreign currency exchange rates. (TheStar)

KPJ Healthcare Bhd could raise around RM50 million from the likely sale of its Indonesia unit in the first quarter (Q1) 2023, said CGS-CIMB Research. During its recent briefing with KPJ Healthcare, the research house gathered that the complete divestment of its Indonesia operations (2 hospitals with 170 beds) would likely be concluded by the end of Q1 2023. (NST)

Sime Darby Bhd's motor division may face near-term pressures from China pushing for higher sales of the BYD Atto 3 fully electric crossover amid recovering supply chains and softer car demand. RHB Research said the BYD Atto 3 is becoming popular in Malaysia, which may be challenging, given the current soft electric vehicle (EV) demand in Malaysia. (NST)

Source: New Straits Times, The Star 19 Jan 2023

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