MQ Market Updates

MQ Market Updates - 04 October 2023

MQ Trader
Publish date: Wed, 04 Oct 2023, 04:46 PM

Malakoff Corporation Bhd has partnered with MMC Group of Companies (MMC Ports) to spearhead the development of 500 megawatt (MW) of solar projects within the Albukhary Group of Companies. (NST)

7-Eleven Malaysia Holdings Bhd's credit profile will not be materially impacted from the proposed disposal of its 75 per cent stake in Caring Pharmacy Group Bhd to BIG Pharmacy Holdings Sdn Bhd. (NST)

Shares in Astro Malaysia Holdings Bhd fell to a record low of 42 sen during the morning trade session on Wednesday (Oct 4), as the stock continued its descent after results disappointed, while a number of corporate moves hinted at troubling times ahead for the pay-TV group. (TheEdge)

The proposed disposal of AMMB Holdings Bhd’s life insurance and takaful businesses is expected to lead to an increase of about 40 basis points (bps) in its common equity tier-1 (CET1) capital, a metric which measures a bank’s financial strength. (TheStar)

A subsidiary of energy-related services provider Reservoir Link Energy Bhd is considering a Nasdaq listing. (TheStar)

Plantation firms Kuala Lumpur Kepong Bhd (KLK) and Boustead Plantations Bhd (BPlant) have clarified that a proposed RM1.15bil deal for KLK to acquire stakes in the latter is still pending. (TheStar)

CGS-CIMB Research has upgraded Bumi Armada Bhd to a higher target price of 75 sen from 65 sen as it expects the company to recover from the unexpected shutdown of its Kraken floating production storage and offloading (FPSO) vessel in the United Kingdom North Sea. (TheStar)

YLI Holdings Bhd’s subsidiary, Laksana Wibawa Sdn Bhd, has accepted and received RM97.84 million in compensation for its land in Hulu Serendah, Selangor that was compulsorily acquired for a rail project. (TheEdge)

UOB Kay Hian said Pecca Group Bhd is poised to benefit from the growing Malaysian automobile industry, driven by higher total industry volume (up 12% year-to-date) and supported by healthy backlog orders. (TheEdge)


Source: New Straits Times, The Edge Markets 04 October 2023

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