MQ Market Updates

MQ Market Updates - 25 October 2023

MQ Trader
Publish date: Wed, 25 Oct 2023, 05:08 PM

Capital A Bhd, the parent of AirAsia, is planning to raise more than US$1 billion in debt and equity, and will list some of its businesses through a blank-cheque company, the Financial Times reported on Wednesday. (NST)

Hextar Technologies Solutions Bhd (HexTech) has ventured into fintech with the introduction of its MoneyX, fintech mobile super-app. (TheStar)

Classita Holdings Bhd today announced that a just-issued forensic investigation report into subsidiary Caely (M) Sdn Bhd (Caely-M) found questionable transactions, potential concealment of financial interests, and conflicting relationships, that undermined the credibility of Classita's financial disclosure. (NST)

There was strong buying interest in AirAsia X Bhd's (AAX) trading stock at the sound of the opening bell as investors took heart at the budget carrier's third-quarter operating statistics. (TheStar)

CIMB Group Holdings Bhd’s bottom line is expected to dampen in the third quarter of 2023 (3Q2023) amid softer non-interest income (non-II) and higher operational expenses (opex) in the second half of 2023 (2H2023), according to investment analysts. (TheEdge)

Hong Leong Investment Bank (HLIB) Research has maintained its “hold” rating on Frontken Corp Bhd at RM3.22 with a higher target price (TP) of RM3.25 (from RM3.07). (TheEdge)

RHB Investment Bank Research has valued Southern Cable Group Bhd (SCG) at 50 sen and said SCG’s orderbook, worth more than RM1 billion (1.14x cover ratio), provides earnings visibility for the next three years. (TheEdge)

MIDF Research maintains its “neutral” call on Sunway Bhd with a revised target price (TP) of RM1.84, from RM1.88, due to limited upside while expecting minimal financial implications from the termination of the Batu Kawan Industrial Park 2 (BKIP2) deal. (TheEdge)


Source: New Straits Times, The Edge Markets, The Star 25 October 2023

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