MQ Market Updates

MQ Market Updates - 14 August 2023

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Publish date: Mon, 14 Aug 2023, 05:13 PM

Berjaya Food Bhd (BFood) via its subsidiary Berjaya Food (International) Sdn Bhd has signed a master franchise agreement to introduce South Korean bakery Paris Baguette in the Philippines.  (TheEdge)

Sime Darby Bhd's indirect wholly-owned subsidiary Sime Darby Industrial Australia Pty Ltd has inked a A$500mil (RM1.49bil) cash deal to acquire Cavpower Group. (TheStar)

KGW Group Bhd has via its wholly-owned subsidiary KGW Logistics (M) Sdn Bhd partners Universiti Tun Hussein Onn Malaysia (UTHM) to establish an enterprise trade hub to empower students with hands-on learning in logistics and e-commerce. (TheStar)

Meta Bright Group Bhd's subsidiary FBO Land (Setapak) Sdn Bhd has entered into a heads of agreement with G.E. Mining Sdn Bhd to design, develop and supply a renewable energy solution, a 2MW Grid-Connected Photovoltaic (GCPV) System, to G.E. Mining. (NST)

Harn Len Corp Bhd has entered into an agreement with Jutawan Enterprise to explore a collaboration in the pineapple plantation business. (TheStar)

Maybank Investment Bank (Maybank IB) Research has upgraded Magnum Bhd to “buy” at RM1.17 with a higher target price (TP) of RM1.25 (from 91 sen), and raised earnings per share estimates for Magnum by 10%, dividend per share by 13% and discounted cashflow (DCF)-TP to RM1.25. (TheEdge)

Hong Leong Investment Bank (HLIB) Research cuts Pharmaniaga target price and earnings forecasts on disappointing second quarter financial performance (2Q23). (NST)


Source: New Straits Times, The Edge Markets, The Star 14 August 2023

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