MQ Market Updates

MQ Market Updates - 10 July 2023

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Publish date: Mon, 10 Jul 2023, 05:22 PM

Hibiscus Petroleum Bhd's subsidiary Anasuria Hibiscus UK Limited, has received the grant of consent for the Environmental Statement (ES) for the Teal West Development from the Offshore Petroleum Regulator for Environment and Decommissioning, last Friday. (NST)

HSS Engineers Bhd has inked its fifth memorandum of understanding (MoU) of preferred partnership with another Japanese engineering consultant firm, CTII. (TheStar)

RGB International Bhd is targeting to sell some 4,000 gaming machines valued at an estimated RM500mil in the overseas market this year, says group managing director Datuk Seri Chuah Kim Seah. (TheStar)

Steel Hawk Bh's major shareholders, namely Radiant Capital Sdn Bhd and Dato' Sharman Kristy A/L Michael, have requested that the company's board of directors consider transfering its listing from the LEAP market to the ACE market. (NST)

The domestic demand for locally-bred shrimps still far exceeds the supply in Malaysia's marine shrimp aquaculture market, as the sector still needs to overcome several challenges in production and meet local demand. MAG Holding Bhd (MHB) executive chairman Stephen Ng Min Lin said Malaysia's marine shrimp aquaculture market faces three key challenges - diseases such as white spot syndrome and early mortality syndrome, sustainability and intense market competition. (NST)

Rakuten Trade has rated SkyWorld Development Bhd a “buy” at 80 sen with a target price (TP) of 96 sen based on the average PER of 8x and P/BV 0.8x. (TheEdge)

My EG Services Bhd's share price jumped as much as 78 sen, or 9.09 per cent higher, in early trade on news of a contract extension for its immigration services. (NST)

Bursa Malaysia has announced that MCT Bhd will be traded and quoted under its new company name, Avaland Bhd, from 9am on Tuesday, July 11, 2023. (TheStar)

RHB Investment Bank research has maintained its “neutral” rating on UOA Development Bhd (UOAD) at RM1.58 with a lower target price (TP) of RM1.71 (from RM1.86) and said the developer’s launches are going as planned and UOA Development’s new F&B business should complement its property projects. (TheEdge)

TA Securities has valued Daythree Digital Bhd (Daythree) at 42 sen and said this takes into account Daythree’s robust earnings growth prospects (FY23F/FY24F/FY25F: +45.9%/+31.9%/+29.6%) as it is positioned to benefit from the growing interest by businesses to pursue digital transformation which includes the engagement of global business services (GBS). (TheEdge)

Apex Research has valued MyMBN Bhd at fair value of 30 sen based on MyMBN’s FY24f EPS of 1.9 sen and a 10% premium on the Bursa’s Consumer Products and Services Index 2024 forward PER of 16.2x. (TheEdge)


Source: New Straits Times, The Edge Markets, The Star 10 July 2023

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