MQ Market Updates - 31 January 2023

MQ Trader

Publish date: Tue, 31 Jan 2023, 04:55 PM

Bursa Malaysia Bhd’s net profit for the fourth quarter ended Dec 31, 2022 declined by 24.55% to RM49 million from RM64.95 million a year ago. Revenue fell 11.79% to RM145.70 million from RM165.18 million in 4Q2021, it said in a bourse filing. Basic earnings per share dipped to 6.1 sen from eight sen previously. (TheEdge)

Construction firm Vestland Bhd made its debut on the ACE Market at 38 sen a share, which represents a five sen or 15.15% premium over its initial public offering (IPO) price. As at 9.40am, the share was trading eight sen or 24.24% higher at 41 sen a share. (TheStar)

YTL Power International Bhd shares were up 1.5 sen to 74.5 sen each, after the company announced a collaboration with a unit of Tenaga Nasional Bhd (TNB) to supply 100 megawatts of electricity from Malaysia to Singapore via the newly upgraded interconnector. As at the time of writing on Tuesday (Jan 31), 1.6 million shares in YTL Power were traded. (TheEdge)

MISC Bhd has added two new generations liquefied natural gas (LNG) carriers - Seri Damai and Seri Daya - to its fleet of LNG carriers. In a statement, the world's largest single owner-operator of LNG carriers said the 174,000 CBM LNG carriers are equipped with smart and sustainable technologies. (TheStar)

Teladan Setia Group Bhd signed a sale and purchase agreement (SPA) with Megan Mastikan Sdn Bhd to acquire 3.05 hectares of land in the central Melaka district for RM48.5 million. The SPA, entered via Teladan Setia's wholly-owned unit Asal Harta Sdn Bhd (AHSB), will be funded via a combination of bank borrowings and internally generated funds. (NST)

Genetec Technology Bhd has fixed the issue price of its private placement exercise at RM2.61 per share to raise some RM177.99 million. The issue price represents a discount of approximately 2.69% to the volume weighted-average of the shares for the five market days up to and including Jan 30 of RM2.6821 per share. (TheEdge)

Malaysia Steel Works (KL) Bhd (Masteel) has invested some RM60 million in various carbon reduction initiatives, earning itself the first ‘ultra-low carbon emission’ integrated steel mill in Malaysia with its inclusion in the FTSE4GOOD Bursa Malaysia Index last month. In a statement on Tuesday (Jan 31) Masteel said it earned three out of four stars in the Environmental, Social and Governance (ESG) Ratings among public listed companies (PLCs) in FBM EMAS, placing it within the top 26%-50% of PLCs assessed by FTSE Russell. (TheEdge)

The positive outlook on Sunway Real Estate Investment Trust's (REIT) retail and hotel segments is being brought forward into 2023 amid the country's post-Covid economic recovery. Hong Leong Investment Bank (HLIB) Research said it expects the REIT's segments to deliver further improvements on the back of anticipated positive rental reversions from retail malls and improving hotel occupancy rates. (TheStar)

TRC Synergy Bhd's final award from the Singapore International Arbitration Centre (SIAC) is estimated at RM75 million, Hong Leong Investment Bank Bhd (HLIB Research) said. TRC obtained the final award from SIAC against Brunei Economic Development Board concerning the Brunei International Airport modernisation project. (NST)

Malaysian Resources Corporation Bhd's (MRCB) new Shah Alam Sports Complex is on track for completion by 2026, findings from RHB Research's ground checks at the public display showed. The bank-backed research firm said the capacity of the new Shah Alam stadium is planned to be 35,000–45,000 spectators, versus 80,000 previously. (NST)

Source: New Straits Times, The Edge Markets, The Star 31 Jan 2023