MQ Market Updates

MQ Market Updates - 26 October 2023

MQ Trader
Publish date: Thu, 26 Oct 2023, 05:22 PM

Glove maker Careplus Group Bhd yesterday announced that its joint venture company with Go Auto Group Sdn Bhd, Nexv Manufacturing Sdn Bhd (NMSB), has secured a manufacturing license for energy efficient vehicles (EEV). (NST)

Shares in Gamuda Bhd rose in early trade Thursday after securing a RM3.45bil for the construction of Taiwan’s Kaohsiung Mass Rapid Transit (MRT) metropolitan line from the Kaohsiung City government. (TheStar)

Cypark Resources Bhd's Datuk Daud Ahmad has retired and will not continue as a member of the board of directors, according to a filing with Bursa Malaysia on Thursday. (TheEdge)

DXN Holdings Bhd which reported almost flat earnings for the second quarter ended August 31, 2023 yesterday, announced that it has made it a policy to start paying out at least 50 per cent of its net profit as dividends. (NST)

Malayan Banking Bhd (Maybank) has strengthened its verification process for Secure2u, its secure authentication method, to approve online banking transactions on the MAE app and Maybank2u web. (TheStar)

Unisem (M) Bhd's net profit in the third quarter ended Sept 30, 2023 slumped 70% to RM18.01 million from RM61.73 million a year earlier, on the back of lower revenue of RM356.19 million versus RM439.69 million. (TheEdge)

Nestle (M) Bhd, which posted a 19% jump in net profit to RM133.7mil in the third quarter ended Sept 30 (3Q), has declared an interim dividend of 70 sen per share. (TheStar)

Mestron Holdings Bhd (MHB) has signed a supply agreement with Singapore-based Tamaco Pole Manufacturing Pte Ltd to supply various products worth SG$1.5 million (approximately RM5.3 million). (NST)

Hong Leong Investment Bank (HLIB) Research, which has a buy call on Malaysia Airports Holdings Bhd (MAHB), is positive on the disposal of its 11 per cent interest in an Indian airport. (NST)

Hong Leong Investment Bank (HLIB) Research has raised its target price for underground utilities and substation engineering specialist MN Holdings Bhd (MNHB) to 59 sen (from 45 sen) and said that with a robust orderbook and replenishment opportunities aplenty, MNHB is poised to achieve record-high earnings in FY23. (TheEdge)

AmInvestment Bank Research has maintained its "buy" call on Hibiscus Petroleum Bhd, with an unchanged sum of parts-based fair value of RM3.23 per share, saying Hibiscus’ 11.7%-owned Australian associate, 3D Oil Ltd, recently provided an activities update for the third quarter of financial year 2023 (3QFY2023). (TheEdge)

Luxchem Corp Bhd's net profit for the third quarter ended Sept 30, 2023 (3QFY2023) rose 3.3% to RM9.07 million, from RM8.78 million a year ago, due to the manufacturing segment. (TheEdge)


Source: New Straits TimesThe Edge Markets The Star 26 October 2023

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