MQ Market Updates - 02 June 2023

MQ Trader

Publish date: Fri, 02 Jun 2023, 05:21 PM

IOI Properties Group Bhd executive vice chairman Lee Yeow Seng will take over as chief executive officer of the group following the retirement of Datuk Voon Tin Yow on July 1. In a filing to Bursa Malaysia today, Lee, 44, served at the London and Singapore offices of a leading international financial services group for approximately two years before joining IOI Group. (NST)

CelcomDigi Bhd has officially commenced its full-scale programme to build a future digital network by integrating and modernising the largest 4G network in Malaysia with the latest long term evolution and 5G-ready technologies. Chief executive officer Datuk Idham Nawawi said the programme includes the largest network deployment projects in the country involving a total of 18,000 sites, following the successful merger of Celcom and Digi in December 2022. (TheStar)

Cagamas Bhd has announced the successful conclusion of an aggregate RM3.42bil equivalent worth of funds raised, marking its largest issuance raised within a single month.The funds comprised RM943mil three-month funding via Conventional Commercial Papers, Islamic Commercial Papers and Repurchase Agreements, RM2.13bil one-year, two-year, three-year and 10-year conventional medium-term notes and S$103mil (RM350mil) one-year Singapore dollar medium-term notes. (TheStar)

Meta Bright Group Bhd will diversify its leasing and financing business segment into the provision of operating leases for machinery and equipment. In a filing with Bursa Malaysia, the company said the proposed diversification is expected to contribute 25% or more of the net profit in the longer term. (TheStar)

Kelington Group Bhd (KGB) said that its 97.19%-owned subsidiary Ace Gases Sdn Bhd (AGSB) has acquired 85,000 shares or a 17% stake in Ace Gases Marketing Sdn Bhd (AGMSB) from Chong Ann Tsun for RM4.41 million. In its bourse filing, KGB said that the exercise will be wholly satisfied via allotment of 1.55 million new shares in AGMSB at an issued price of RM1 per share. (TheEdge)

Star Media Group Bhd's independent non-executive director Wong You Fong as been redesignated as a non-independent non-executive director. According to the Star Media website, Wong was first appointed to the board of the company on June 1, 2017. (TheStar)

United Plantations Bhd announced the appointment of Tunku Alizakri Raja Mohd Alias as the group’s new non-independent, non-executive director, effective June 1, 2023. Alizakri replaces Puan Rohaya binti Mohd Yusof who has resigned. Alizakri was the chief executive officer (CEO) of the Employees Provident Fund (EPF) from August 2018 to February 2021. Prior to the CEO role, he was the deputy CEO (strategy) of EPF. (TheEdge)

IHH Healthcare Bhd has reaffirmed its growth prospects as it rolls out new initiatives to enhance its segment margins, says Hong Leong Investment Bank (HLIB) Research. Following an analyst briefing, HLIB said the healthcare group is on track to expansion as it seeks to add more than 2,000 beds to its system over the next three years, which includes 600 beds in Malaysia and 1,500 in India. (TheStar)

Hong Leong Investment Bank (HLIB) Research has maintained its “sell” rating on Velesto Energy Bhd at 23 sen, with an unchanged target price (TP) of 19 sen, after Velesto announced that it had received a job win for the provision of jack-up drilling rigs for Vestigo Petroleum with a total contract value of US$10.9 million (RM50.04 million). (TheEdge)

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