Hong Leong Investment Bank Bhd (HLIB Research) remains positive on Berjaya Food Bhd (BFood) in reaping the benefits amidst the downward trend of coffee bean prices and Starbucks brand equity. The bank-backed research firm believed the strong brand equity of Starbucks had attracted good demand even after implementing a price hike for its beverages at the end of 2022. (NST)

Mah Sing Group Bhd will collaborate with the China Electronic Chamber of Commerce (CECC) to assist Chinese investors in setting up manufacturing facilities in Malaysia. In a statement, the property group said the partnership would also promote Malaysia-China strategic partnerships. (TheStar)

Pharmaniaga Bhd is reassuring all of its vendors and suppliers that the group will meet its financial obligations by the end of the month at the earliest. In a statement on Tuesday (April 4), the group said it is confident the current delay in payments will be resolved and normalised, following its meeting with the Pharmaceutical Association of Malaysia. (TheEdge)

Nextgreen Global Bhd, a pulp and paper manufacturer, says its wholly-owned Nextgreen Biomass Sdn Bhd has signed a shareholders' agreement with Greentech Malaysia Alliances Sdn Bhd, Koperasi Sahabat Amanah Ikhtiar Malaysia Bhd and Koperasi Perkhidmatan Setia Bhd. The agreement is for the setting up of a joint venture in a special purpose vehicle (SPV) called GTC Biomass Bhd to build, and commission 20 oil palm waste collection and processing centres nationwide. (NST)

South Malaysia Industries Bhd (SMIB) has lodged a complaint with the Securities Commission (SC) through its legal counsel, after the company identified over 20 parties to acquire more than 33 per cent of stake in the company. SMIB said the parties consisted of companies and individuals who acted in concert with Honsin Apparel Sdn Bhd and HiQ Media (M) Sdn Bhd to acquire the stake in the last six months that ended Feb 17 2023. (NST)

A consortium comprising Ranhill Capital Sdn Bhd and Sabah Energy Corp Sdn Bhd (SEC) has won the tender for the development of a 100 megawatt (MW) power plant on the west coast of Sabah. Ranhill Capital is a wholly-owned subsidiary of Ranhill Utilities Bhd. The project involves the design, construction, ownership, operation and maintenance of a 100MW gas-fired combined-cycle gas turbine (CCGT) power plant on a build, own, operate and transfer basis. (TheStar)

Petroliam Nasional Bhd (Petronas) will continue with its exploration project in the South China Sea, even though there are overlapping claims for the area with China, said Prime Minister Datuk Seri Anwar Ibrahim. He said this is because Malaysia considers the area, where the exploration project is being carried out, in the country’s territorial waters. (TheEdge)

Sunsuria Bhd was actively traded on Tuesday (April 4), with its share price climbing 27.72%. The counter opened at 53 sen, before pairing its gains to 65 sen at 10.34am. A total of 22.52 million shares were traded, about 26 times the 200-day average volume of 864,925 shares. (TheEdge)

Reach Energy Bhd shares tumbled 33.33% in morning trade on Tuesday (April 4) amid heavy trading, after the company became an affected listed issuer under Practice Note 17 (PN17) status. The stock gapped down at the opening bell, opening 2.5 sen or 33.33% lower at five sen from its last closing price of 7.5 sen. (TheEdge)

Hong Leong Investment Bank (HLIB) Research has valued CWG Holdings Bhd at 45 sen and said CWG's earnings have bottomed out and are poised for a strong rebound in the financial year 2023 (FY2023) to FY2024, given the easing freight rate and a less competitive landscape following the Covid-19 industry washout that has resulted in increased export sales. In a note on Tuesday (April 4), the research house said that in the long run, CWG’s sales is envisaged to grow alongside the global literacy wave, with promising growth potentials in the Arab world, South Asia, and Sub-Saharan Africa, where adult literacy rates remain below the global average and are increasing at a faster pace. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 04 Apr 2023

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