MQ Market Updates

MQ Market Updates - 25 January 2023

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Publish date: Wed, 25 Jan 2023, 05:21 PM

T7 Global Bhd has clinched two contracts worth a combined RM100 million under its energy division for recruitment and manpower services and offshore construction services. The energy solutions provider said the first contract was from PTTEP Group of Companies for the provision of headhunting and recruitment services. The second was from Hibiscus Oil & Gas Malaysia Ltd to provide facilities decommissioning services for South Angsi Alpha. (NST)

RHB Research said the increase in water tariffs by Ranhill Utilities Bhd's water operating unit is timely - given that the last rate hike was in 2015 - and will ease pressure on the group's earnings caused by higher lease payments and running costs. For FY23, the research firm said the increased tariffs could bring in estimated additional billings of RM30-50mil. It said earnings in FY23 and FY24 could rise by more than 15% from current projections. (TheStar)

Telekom Malaysia Bhd's innovation arm is exploring a collaboration with ZTE (Malaysia) Corp sdn Bhd on optical network research to bring 50Gbps bandwith to Malaysia. In a statement, the telco said Telekom Research & Development Sdn Bhd and ZTE will jointly explore the capabilities of next-generation passive optical network (PON) acess technology, 50GPON, to support various application scenarios. (TheStar)

Analysts have called "hold" on Westports Holdings Bhd with target prices (TP) ranging from RM3.57 to RM3.90, after the group announced an improved fourth quarter earnings ended Dec 31, 2022 (4QFY2022) of RM235.04 million. In several research notes on Wednesday (Jan 25), Hong Leong Investment Bank (HLIB) and CGS-CIMB has maintained a "hold" call on the port operator while MIDF Research has changed its recommendation to "neutral" from "buy" after revising its earnings forecast for the group. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 25 Jan 2023

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