MQ Market Updates - 16 October 2023

MQ Trader

Publish date: Mon, 16 Oct 2023, 05:23 PM

Yinson Holdings Bhd's unit Yinson Production Pte Ltd, in collaboration with Azule Energy, will pilot an offshore carbon capture and storage plant on the floating production system (FPSO) Agogo in Angola. This is to reduce carbon footprint and pave the way for the decarbonisation of the offshore production industry. The plant is the world's first post-combustion carbon capture unit installed onboard an FPSO. It is designed at a pilot scale and will be used as a demonstration unit in an offshore floating environment to assess technical readiness and gain operational know-how. (NST)

CelcomDigi Bhd will work with Time dotCom's to expand its CelcomDigi fibre services to a broader segment, with a particular focus on individuals living in condominiums and apartment complexes. CelcomDigi will do this by leveraging on Time's fibre broadband infrastructure. With the collaboration, customers can enjoy high-speed broadband of up to 1Gbps, high upload speeds with Time's symmetric downlink and uplink speed offering and faster fibre installation. By leveraging on existing infrastructure, CelcomDigi will be able to quickly rollout Internet services in a more cost-efficient manner, in line with the country's digital aspirations. (NST)

Boutique property developer Selangor Dredging Bhd has bagged six awards at The EdgeProp Singapore Property Excellence Awards 2023. Selangor Dredging's One Draycott, a newly-completed luxurious development, won five awards. They were Design Excellence, Sustainability Excellence, Top Development, Top Luxury Development and Top Boutique Development. The company's Jui Residences won the Landscape Excellence award. (NST)

Mah Sing Group Bhd’s M Minori serviced apartment development in Johor Bahru saw all 252 non-Bumiputera units in its Tower A taken-up over the project’s weekend launch on Oct 14 and 15. In the same weekend, the developer launched Phase 3A of its M Senyum landed development in Bandar Salak Tinggi, Selangor, which saw 90% of 150 units taken-up. (TheEdge)

Swift Haulage Bhd is keen to be the first logistics player to transition its fleet to renewable-powered trucks, as it commits to procure only electric prime movers or trucks powered from 2030 onwards. Notably, Swift is the country's largest hauler and a leading integrated logistics service provider with a fleet of over 1,500 prime movers. (TheEdge)

Malaysia Marine and Heavy Engineering Holding Bhd (MHB) has appointed Mohammad Suhaimi Mohd Yasin as its new chairman effective Oct 16. In the bourse filing, MHB stated that Mohammad Suhaimi has been an independent and non-executive director of MHB and has extensive experience in the oil and gas industry. (TheEdge)

Analysts maintained their "buy" calls on IGB Real Estate Investment Trust (REIT) after its quarterly net income came within expectations for the cumulative nine months ended Sept 30, 2023 (9MFY2023), translating into a 5.5% increase compared to a year ago. The earnings growth was mainly supported by higher tenant sales and positive rental reversion due to high shopper footfall at the Mid Valley Megamall and The Gardens Mall, they said. (TheEdge)

Source: New Straits Times, The Edge Markets 16 October 2023