MQ Market Updates

MQ Market Updates - 07 March 2023

MQ Trader
Publish date: Tue, 07 Mar 2023, 05:25 PM

OCK Group Bhd is expected to see robust earnings growth to continue in FY23, supported by the company's outstanding orderbook of RM386 million and aggressive domestic 5G site deployments. In a note today, RHB Research said the stock offers resilient earnings with more than 50 per cent of revenue and 70 per cent in gross earnings from the regional towerco business. (NST)

Oppstar Bhd's initial public offering (IPO) has been oversubscribed by 77.05 times by the Malaysian public ahead of its listing on the ACE Market of Bursa Malaysia on March 15. (TheEdge)

En route to a listing on the Main Market of Bursa Malaysia this week, Cape EMS Bhd announced a net profit of RM8.9mil in the fourth quarter of its 2022 financial year as compared to RM6.36mil in the previous corresponding quarter. (TheStar)

Kossan Rubber Industries Bhd, in collaboration with Pantas Software Sdn Bhd, has launched Greening Value Chain (GVC) programme to help SMEs within its supply chain network to decarbonise their operations. (NST)

Solarvest Holdings Bhd in a consortium with Edward Marcs Philippines Inc has been appointed the engineering, procurement, construction, and commissioning (EPCC) solutions provider for a one-megawatt peak ground-mounted solar development in General Santos in Mindanao Island, Philippines. (TheStar)

Pavilion Real Estate Investment Trust (REIT) has issued a circular seeking approval from its non-interested unitholders for the acquisition of Pavilion Bukit Jalil (PBJ Mall) for RM2.2bil. (TheStar)

Sime Darby Plantation Bhd (SDP) plans to employ 100% local workers by the end of 2027 with a minimum wage of RM3,000. (TheEdge)

Citaglobal Bhd, via its wholly-owned subsidiary Citaglobal Engineering Services Sdn Bhd (CES), has received and accepted a letter of intent (LoI) from Mutiara Perlis Sdn Bhd (MPSB) to undertake engineering, procurement and construction (EPC) works for the development of the Sanglang Integrated Jetty project in Perlis. (NST)

Kenanga Research has maintained its "outperform" rating on PPB Group Bhd with a target price of RM19.30 after the diversified conglomerate reported robust earnings and revenue for the financial year ended Dec 31, 2022 (FY2022). (NST)

IHH Healthcare Bhd's sale of the International Medical University (IMU)  would allow the company to monetise its long-term investment in IMU. RHB Research noted that the deal would also redeploy capital to strengthen the company's core hospital operations further. (NST)

Capital A Bhd has made changes to its leadership to upscale its digital business portfolio, which includes travel and lifestyle platform airasia Super App and fintech portfolio BigPay. (TheStar)



Source: New Straits Times, The Edge Markets, The Star 07 Mar 2023

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