MQ Market Updates

MQ Market Updates - 27 January 2023

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Publish date: Fri, 27 Jan 2023, 05:25 PM

Measat Global Bhd has signed a Memorandum of Understanding (MoU) with Parcel365 Sdn Bhd and M2B Services Sdn Bhd to collaborate on the Digital Village365 initiative. In a statement today, the rural broadband service provider said the initiative aims to uplift rural communities and stimulate digital economic activities for B40 communities. (NST)

Malaysia Airports Holdings Bhd (MAHB) reached a record high of 6.8 million passengers in December 2022 for monthly passenger movements in all airport operations in Malaysia. The airport operator said the year-end holiday season contributed a significant 31 per cent increase from the preceding month, enabling MAHB to reach 50 per cent of 2019 levels for its Malaysian operations. (NST)

Civil engineering specialist Sarawak Consolidated Industries Bhd (SCIB) today issued a letter of withdrawal to Kencana Healthcare Sdn Bhd (KHSB) for engineering, procurement, construction and commissioning (EPCC) contracts involving a specialist hospital project located in Johor Bahru. SCIB and KHSB have mutually agreed to withdraw from the project. As part of the withdrawal from the project, KHSB will reimburse, under a settlement agreement, the commitment fee of RM1.65 million that SCIB had paid out in two tranches. (NST)

MyEG Services Bhd is optimistic that the e-government service concession, slated to expire this May, will be extended for another three years due to its strong track record. Maybank Investment Bank, in a note on Friday (Jan 27), maintained its "buy" call on the stock with an unchanged target price of RM1.37, saying the group’s last extension for the concession was received in May 2020 for three years. (TheEdge)

CIMB Group Holding Bhd's next quarterly results are likely to see the bank's net interest margin (NIM) improvement, steady loans and better non-interest income (NII) growth on a sequential basis. Hong Leong Investment Bank Bhd (HLIB Research) said the cost of funding has risen in the fourth quarter (Q4) 2022 from the third quarter (Q3) 2022, no thanks to fierce deposits rivalry, the repricing of matured deposits, and seasonal year-end competition in the wholesale money market space. (NST)

While Reservoir Link Energy Bhd (RLE) is building on its momentum in securing new RE contracts, Public Investment Bank Bhd (PublicInvest) remains cautious about RLE's short-term earnings prospects for this segment amid inflationary pressures. RLE secured a purchase order (PO) worth RM11.4 million for the supply of mounting structures for large-scale solar photovoltaic (LSS PV) plant development from Fabulous Sunview Sdn Bhd, a wholly-owned subsidiary of Sunview Group Bhd, through its 51 per cent owned subsidiary, Founder Energy Sdn Bhd. (NST)

Revenue Group Bhd has confirmed that two of its directors have been arrested by the Malaysian Anti-Corruption Commission (MACC) over an alleged false claim relating to the purchase of thermal printing paper worth more than RM400,000. (TheEdge)

Capital A Bhd’s share price jumped by as much as 5.63% on Friday's morning trade in Bursa from its last closing price of 71 sen, after the group reported improvements in key operational fourth quarter (4Q) and 2022 numbers. Capital A opened at 72 sen and rose to a high of 75 sen at 9.18am. At the time of writing the group’s trading volume was 17.63 million. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 27 Jan 2023

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