DRB Hicom Bhd has today signed a master collaboration agreement (MCA) with Chinese car maker Zhejiang Geely Holding Group Co Ltd for development and promotional activities of The Automotive Hi-Tech Valley (AHTV). The agreement follows Prime Minister Anwar Ibrahim's announcement in April 2023, that Geely would be investing US$10 billion (RM45.4 billion) to turn Tanjung Malim, Perak, into the region's largest automotive city. (NST)

Datasonic Group Bhd has introduced a new generation scanning machine known as "Dsonic eGate" that can detect up to 98 per cent facial accuracy at the country's entrance gates. Datasonic business development director C.Doshi said Dsonic eGate is for the use of the Immigration Department where they only need to put one officer on duty if they have the machine. (NST)

Straits Energy Resources Bhd has bagged a contract worth RM27.7 million for the installation, testing and commissioning aluminium XLPE underground cables and accessories for asset development for Tenaga Nasional Bhd (TNB). In a Bursa Malaysia filing on Wednesday (Oct 11), the marine fuel supplier said its 70% indirect subsidiary Straits CommNet Solutions Sdn Bhd (SCS) accepted a letter of award (LOA) from Tianu Sdn Bhd on Tuesday. Tianu was awarded this project by TNB and as the main contractor, has joined forces via a smart partnership with SCS to deliver the project. (TheEdge)

Ahead of the ACE market listing in Bursa Malaysia, Minox International Group Bhd (MIG) posted a net profit of RM3.31 million for the second quarter (Q2) ended June 30, 2023 (FY23). Revenue for the stainless steel sanitary valves, tubes and fittings distributor stood at RM14.19 million. The company's food and beverage (F&B) segment contributed the bulk of turnover, accounting for 93.3 per cent of the topline. Gross profit (GP) for Q2 FY23 was RM8 million, reflecting a GP margin of 56.3 per cent. (NST)

Ramssol Group Bhd's wholly-owned subsidiary RAMS Solutions Sdn Bhd has entered into a collaboration with GoSaas inc to provide Oracle Fusion Cloud Solutions in the areas of human capital management (HCM) and enterprise resource planning (ERP) to clients in Malaysia and Southeast Asia. In a filing with Bursa Malausia, Ramssol said RAMS Solutions will market and promote the products in the region and appoint GoSaas for the implementation of the products following the sale. (TheStar)

MARC Ratings Bhd has affirmed its short-term rating of MARC-2IS on Bina Darulaman Bhd's (BDB) RM100 million Islamic commercial papers (ICP) programme. The rating is based on BDB's strength in undertaking construction and property projects, improving leverage position, and adequate liquidity to meet short-term operational and financial commitments. (NST)

Sapura Energy Bhd was the second most active counter in early morning trade following the termination of a contract by Shell Eastern Petroleum (Pte) Ltd awarded to its subsidiary, Sapura Offshore Sdn Bhd (SOSB). As at 11.35am, the stock was trading unchanged with some 59.6 million shares changing hands. Sapura Energy said following a October 5, 2023 meeting with SOSB and Shell,  without admission of liability and reserving all of SOSB's rights, the contract is considered terminated by Shell. (NST)

Kerjaya Prospek Group Bhd's recent contract from Aspen Vision City Sdn Bhd will allow the company to achieve over 70 per cent success rate out of its financial year 2023 (FY23) tenderbook of RM2 billion. Public Investment Bank Bhd (PublicInvest) said the company's outstanding orderbook added 5 per cent to RM4.97 billion after accounting for this job win, providing earnings visibility for the next three to four years. (NST)

ITMAX System Bhd's recent 15-year contract from the Pasir Gudang City Council (MBPG) is expected to propel its earnings to the next level. ITMAX yesterday announced that it has accepted MBPG's letter of award (LOA) for video surveillance and smart traffic light system services for a period of 15 years for a contract sum of RM79 million. (NST)

IHH Healthcare Bhd’s 90%-owned Acibadem Saglik Yatirimlari Holding AS is ramping up efforts to expand its presence in Europe and to attract more international patients in a bid to maintain profitability amid the severe devaluation of the Turkish lira from hyperinflation. Acibadem’s founder and chairman Mehmet Ali Aydinlar said although the group had mainly relied on organic growth in the past, management will “pay attention to profitable acquisition [targets]. We cannot acquire loss-making companies and turn it around.” (TheEdge)

In the on-going shareholder tussle over control of cash-strapped KNM Group Bhd, its current management has contended that the upcoming extraordinary general meeting on Monday (Oct 16) could mark a turning point for both KNM and its German-based wholly-owned subsidiary Borsig GmbH should shareholders vote to maintain the management and board, which are planning to list Borsig on the Singapore Exchange. (TheEdge)

CGS-CIMB Research has maintained its “overweight” stance on brewers and upgraded its “add” call (from “hold”) on Heineken Malaysia Bhd, while reiterating its “add” call for Carlsberg Brewery Malaysia Bhd. The research house also raised the target price (TP) for Heineken to RM29.75 (from RM27.40) and Carlsberg to RM26.80 (from RM24.40), according to its note on Wednesday. (TheEdge)

CGS-CIMB Securities has maintained its “neutral” rating on the oil and gas (O&G) sector and said the physical impact of the Hamas-Israel conflict on the oil markets is minimal for now. In a note on Wednesday, the research hence said the Hamas-Israel conflict is insufficient to support a major oil price rally. It said the direct beneficiaries of higher oil prices are Hibiscus Petroleum Bhd and Dialog Group Bhd, while Petronas Chemicals Group Bhd, Velesto Energy Bhd and Dayang Enterprise Holdings Bhd will benefit indirectly. (TheEdge)

Source: New Straits Times, The Edge Markets 11 October 2023

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