MQ Market Updates

MQ Market Updates - 16 May 2023

MQ Trader
Publish date: Tue, 16 May 2023, 05:21 PM

In the absence of the sales and services tax (SST) exemption, UMW Holdings Bhd’s automobile segment is to see a base normalisation from the second half of 2023 (2H23). (TheStar)

Bintai Kinden Corp Bhd made further announcements on its boardroom changes on Tuesday (May 16), including the return of its former chief executive officer Datuk Tay Chor Han as its new group managing director effective May 15. (TheEdge)

Tomei Consolidated Bhd has proposed to acquire Pajak Gadai JP Sdn Bhd from its managing director and substantial shareholder Datuk Ng Yih Pyng and executive director Datin Choong Chow Mooi for RM3.8mil cash. (TheStar)

Airasia X Bhd (AAX) was among the top gainers in early trade on Tuesday (May 16), rising as much as nine sen or 5.73% to RM1.66 with some 7.11 million shares changing hands and a market capitalisation of RM688.59 million. (TheEdge)

SkyWorld Development Bhd is optimistic about the company's share sale exercise in the third quarter of this year, said its founder and chairman Datuk Seri Ng Thien Phing. (NST) 

Maybank Investment Bank Bhd (Maybank IB) warned that its long-term earnings predictions for Sports Toto Bhd might be reduced by 52 per cent if the governments of Selangor, Penang, and Negri Sembilan change in the next state elections. (NST)

MIDF Research has maintained a positive outlook for Cahya Mata Sarawak Bhd (CMSB), pending further developments on the arbitration of the dispute between CMSB's subsidiary Cahya Mata Phosphates Industries Sdn Bhd and Syarikat SESCO Bhd (Sesco). (NST)

Kejuruteraan Asastera Bhd (KAB) said its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd is exploring a collaboration with a China National Nuclear Corp unit PT CNEC Engineering Indonesia and Transcend Global Ltd (TGL) to develop potential sustainable energy solutions in the region. (TheStar)

YNH Property Bhd has via its wholly-owned subsidiary Kar Sin Bhd disposed of a 5.1-acre freehold tract in Desa Seri Hartamas, Kuala Lumpur, to Sunway Living Space Sdn Bhd for RM170mil cash. (TheStar)


Source: New Straits Times, The Edge Markets, The Star 16 May 2023

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