Kinergy Advancement Bhd's (KAB) subsidiary KAB Energy Holdings Sdn Bhd has signed a heads of agreement (HoA) with XSD International Paper Sdn Bhd (XSDIP) to initiate KAB's first biomass project, focusing on power and steam generation. (NST)

Astro Malaysia Holdings Bhd is committed to investing over RM300 million in local content for its financial year ended Jan 31, 2024 (FY2024), despite the macroeconomic headwinds that necessitate prudent cost management. (TheStar)

Capital A Bhd’s logistics arm — is rolling out its own fleet of freight planes as the company looks to leverage its new position as Southeast Asia’s biggest logistics firm, underscoring its growth ambitions for the next five years. (TheEdge)

SMTrack Bhd today said the company and its board is also looking for executive director Datuk Justin Lim Hwa Tat. (NST)

Shares in Pharmaniaga Bhd rose in early trade Thursday after securing a 7-year contract to provide medical supply logistics services to the Ministry of Health (MoH). (TheStar)

Kenanga Investors Bhd has emerged as a substantial shareholder of Citaglobal Bhd after acquiring a 5.51% stake. (TheEdge)

CGS-CIMB Securities has maintained its “Add” rating on Velesto Energy Bhd at 23.5 sen with an unchanged target price (TP) of 25 sen, and said the FY2024F outlook for Velesto may be stronger than current house forecasts if Velesto obtains the recent strong daily charter rates (DCR) achieved by its peers in the region. (TheEdge)

Hong Leong Investment Bank (HLIB) research has maintained its “Buy” rating on OSK Holdings Bhd at RM1.05, with a higher target price (TP) of RM1.59 (from RM1.46), and said it believes the group will continue to show steady growth in FY2023, underpinned by an improvement in all segments. (TheEdge)

ACE Market-bound MyMBN Bhd, which is set to be listed on Bursa Malaysia on July 25, saw 19.30 million new shares offered to the public oversubscribed by 30.77 times. （TheEdge)

Source: New Straits Times, The Edge Markets, The Star 13 July 2023

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