MQ Market Updates

MQ Market Updates - 27 October 2023

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Publish date: Fri, 27 Oct 2023, 05:17 PM

Nestle (Malaysia) Bhd's net profit increased to RM133.7 million in the third quarter ended Sept 30, 2023 (3Q 2023) from RM112.65 million in 3Q 2022, boosted by robust sales growth. (NST)

ACE-market bound construction engineering solution and services group Plytec Holding Bhd, has won a contract from Sarawak Economic Development Corporation (SEDC) to turn Sarawak into a smart city. (NST)

Sime Darby Plantation Bhd has declared a special interim dividend of 5.70 sen per ordinary share in respect of the financial year ending Dec 31, 2023. (TheStar)

Berjaya Food Bhd (BFood) will continue to offer more innovative vegan products moving forward, driven by the increasing trend of plant-based food consumption among Malaysians. (TheEdge)

Pestech International Bhd's shareholders pushed through resolutions to issue 800 million shares in the company to IJM Corp Bhd at 15.5 sen a share at an extraordinary general meeting (EGM) today, paving the way for IJM Corp to take a 44.83 per cent interest in the company. (NST)

Hong Leong Investment Bank (HLIB) Research expects Unisem (M) Bhd's fourth quarter revenue to be flat quarter-on-quarter, after a dissapointing nine-month showing. (NST)

RHB Investment Bank research (RHB Research) expects Texchem Resources Bhd to post a net loss of RM7.6 million for financial year 2023, compared with a previous projection of RM5 million net profit, following a dismal third quarter (3Q). (NST)

Despite potential challenges in the retail sector, Capitaland Malaysia Trust (CLMT) is expected to see a rise in earnings, says Kenanga Research. (TheStar)

Vitrox Corp Bhd’s shares are trading in the red on Friday after the company reported a 34.6% drop in quarterly profit. (TheStar)

Maybank Investment Bank Bhd (Maybank IB) has maintained its “buy” rating on the health and direct selling company DXN Holdings Bhd at 67 sen, with an unchanged target price (TP) of 90 sen. (TheEdge)

CGS-CIMB Research has reiterated its “reduce” call on Lotte Chemical Titan Holding Bhd (LCT) at RM1.13, with a lower target price of 94 sen (from RM1 previously), and said it expects tough conditions to persist into financial year 2024 (FY2024). (TheEdge)


Source: New Straits TimesThe Edge Markets The Star 27 October 2023

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