Bumi Armada Bhd has announced that the operational performance of its Armada Kraken floating production storage and offloading (FPSO) vessel has returned to about 90% of pre-shutdowh levels. The offshore services provider said in an exchange filing that it had reconditioned a failed HSP transformer and successfully installed it on the vessel. (TheStar)

Tropicana Corp Bhd is poised to launch SouthPlace 2 Residences serviced apartments and SouthPlace 2 Shoppes retail lots within its 88-acre Tropicana Metropark township in Subang Jaya in 3Q2023. According to a press release on Thursday (July 20), SouthPlace 2 Residences will comprise 553 apartment units with built-ups from 583 sq ft, featuring one- to four-bedroom layouts. It has a gross development value of RM142.04 million, with selling prices ranging from RM506,000 to RM964,000. Its integrated retail podium, named Southplace 2 Shoppes will feature 70 retail lots. More details of the development will be announced later. (TheEdge)

Newly listed MST Golf Group Bhd said it is optimistic on its financial outlook on the back of sustainable demand persisting after the golf boom caused by the Covid-19 pandemic, as well as a lack of competition in quality retail golf merchandise. During a press conference on Thursday (July 20) following its listing ceremony, the group shared that they are upbeat about the golf market, sustained by growing golf activity owing to the influx of the younger generation picking up the sport. (TheEdge)

Datasonic Group Bhd expects elevated market uncertainties to persist and global economies to experience a slowdown compared to the previous year. Despite these headwinds, executive chairman Datuk Abu Hanifah Noordin believes that there are bright spots ahead for the information and communication technologies firm. (TheStar)

Guan Chong Bhd is poised to record steady earnings in the near term due to rising cocoa prices, MIDF Research said. The firm said Guan Chong posted a higher net profit of RM184.3 million for financial year 2022 (FY22), up 31.2 per cent from the previous year, in line with a revenue growth of 12.7 per cent to RM4.42 billion. (NST)

Genting Bhd's subsidiaries Resorts World Las Vegas LLC and RWLV Capital Inc. have issued US$400 million of 8.450 per cent senior notes due 2030. In Bursa Malaysia filing, the notes were offered and sold only in the United States to qualified institutional buyers and will be listed on the Singapore Exchange Securities Trading Limited. (NST)

The growth prospects of wires and cables manufacturer, Supercomnet Technologies Bhd, appear bright in view of the group’s robust pipeline of new products. In addition, the maiden contribution from its new customers is expected to boost earnings over the medium term. (TheStar)

Property Developer UEM Sunrise Bhd piqued investor interest as its share price reached a two-year high and its shares were traded actively on Bursa Malaysia in the morning session on Thursday (July 20). At the time of writing, its share price rose 2.5 sen or 6.41% to 41.5 sen, after its last closing price of 39 sen on Tuesday. Its market capitalisation stood at RM2.07 billion. (TheEdge)

Maybank Investment Bank (Maybank IB) Research expects Farm Fresh Bhd's earnings for the first half of financial year ending March 31, 2024 (1HFY24) to be weak on near term cost pressures, with whole milk powder costs savings and other factors driving stronger earnings in the second half of the FY. Stable product demand, product price hikes, and softening raw material costs in 2HFY24 is expected to drive stronger earnings for Farm Fresh. (NST)

Ekuinas Nasional Bhd has appointed Tan Sri Shahril Ridza Ridzuan to the role of independent non-executive chairman, succeeding Raja Tan Sri Arshad Raja Tun Uda, who stepped down on July 18, 2023. Shahril was appointed to the board of Ekuinas on Oct 1, 2022, as an independent non-executive director. He is currently chairman of Axiata Group Bhd and Iskandar Waterfront Holdings Sdn Bhd, as well as a non-executive member of Kuala Lumpur Kepong Bhd. (TheStar)

Source: New Straits Times, The Edge Markets, The Star 20 July 2023

Need a Trading Account?

Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!
 

Contact Us

Please do not hesitate to contact us if you have any inquiries:

Facebook: https://www.facebook.com/mqtrader 
Instagram: https://www.instagram.com/mqtrader 
i3messanger: https://messenger.i3investor.com/m/chatmq 
YouTube: https://www.youtube.com/channel/UCq-26SGjlQTVQfO7DoEihlg 
Email: admin@mqtrader.com