MQ Market Updates

MQ Market Updates - 08 March 2023

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Publish date: Wed, 08 Mar 2023, 05:07 PM

The High Court on Wednesday (March 8) granted Sapura Energy Bhd and its 22 subsidiaries fresh orders to hold court-convened meetings with creditors within three months. The court also allowed a three-month restraining order (RO) on the creditors. (TheEdge)

Pavilion Real Estate Investment Trust (Pavilion REIT) is seeking unitholders' nod to raise RM1.27 billion to help pay for the RM2.2 billion acquisition of Pavilion Bukit Jalil (PBJ Mall). The RM1.27 billion will be raised in two private placements, spread between the first tranche of RM720 million and second tranche of RM550 million. (NST)

CIMB Group Holdings Bhd will be reactivating its financial obligation payment relief under the CIMB Flood Relief Assistance Plan to individual and business customers that have been affected by the recent floods. (TheStar)

Cahya Mata Sarawak Bhd’s earnings growth is expected to remain robust, supported by oncoming construction and infrastructure projects announced in the recently tabled Budget 2023. (TheStar)

Hong Leong Investment Bank (HLIB) Research has initiated coverage on AME REIT (AMER) with a “buy” call at RM1.13 and a target price (TP) of RM1.35 based on FY2024 forward DPU at a targeted yield of 5.1%. (TheEdge)

CGS-CIMB Securities has maintained its “add” rating on Bermaz Auto Bhd at RM2.12 with a higher target price (TP) of RM3.10 (from RM2.80), and said it stays upbeat on Bermaz’s CY23-24F growth prospects, driven by resilient demand and three new localisation programmes, amid SST expiry in 2023F. (TheEdge)

Sunsuria Bhd has signed a Memorandum of Understanding (MoU) with the Nanjing University of Chinese Medicine to develop, promote and market traditional Chinese medicine (TCM). (NST)

​​KPJ Healthcare Bhd says its wholly-owned Point Zone (M) Sdn Bhd has priced its inaugural sustainability sukuk offering of RM555.0 million under its existing RM3.0 billion Sukuk Wakalah on March 6. (NST)

Dialog Group Bhd will continue to be one of the key beneficiaries of the Pengerang Deepwater Terminals (PDT) development due to its exposure in the midstream and downstream divisions. (NST)



Source: New Straits Times, The Edge Markets, The Star 08 Mar 2023

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