MQ Market Updates - 01 December 2023

MQ Trader

Publish date: Fri, 01 Dec 2023, 05:12 PM

Yinson Holdings Bhd said its unit Yinson Production Pte Ltd (YP) has made an investment in Carbon Removal AS (CR), a leading Norway-based company developing direct air capture (DAC) projects, but did not disclose its value. (TheEdge)

Serba Dinamik Holdings Bhd will issue its quarterly report for the financial period ended Sep 30, 2023 by Dec 7, 2023 after missing its Nov 30, 2023 deadline. (NST)

Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar, eldest sister of Johor's Sultan Ibrahim Sultan Iskandar, has been appointed as non-executive chairman of IT and glove manufacturing company Zen Tech International Bhd. (TheEdge)

RHB Banking Group has appointed Phuah Shok Cheng as its acting group chief financial officer from Jan 1, 2024. (TheStar)

Analysts are upbeat on Public Bank Bhd’s prospects as the group has shown resilience in delivering steady earnings, despite challenges in the fourth quarter of this year. (TheStar)

Axiata Group Bhd has selected Amazon Web Services (AWS) as its primary cloud provider. (NST)

TA Securities has downgraded SKP Resources Bhd to "hold" at 75 sen, with a lower target price of 78 sen (from RM1.10), based on 12 times earnings per share for calendar year 2024, to reflect cautiousness against SKP’s challenging operating environment, and the narrowed risk-reward potential of the counter. (TheEdge)

Provider of services to the oil and gas sector Velesto Energy Bhd may benefit from potentially higher sustained development costs rate (DCR) on strong demand for jack-up rigs. (TheStar)

CAB Cakaran Corporation Bhd (CCB) posted a net profit of RM10.71 million for the fourth quarter (Q4) ended September 30, 2023 (FY23), up 39.5 per cent year-on-year (YoY) from RM7.68 million a year ago. (NST)

Apex Healthcare Bhd via its wholly-owned subsidiary Xepa-Soul Pattinson (Malaysia) Sdn Bhd has proposed to acquire an industrial property in Cheng Industrial Estate in Melaka from Panasonic Appliances Refrigeration Devices Malaysia Sdn Bhd for RM66.5mil. (TheStar)

Agro-based business group QL Resources Bhd’s outlook remains stable, with its resilient marine-product manufacturing operations set to be a key driver for earnings growth in financial year 2024 (FY24). (TheStar)

Datasonic Group Bhd expects demand for passports to remain healthy especially in the current quarter. (NST)

IJM Corp Bhd's non-core divisions such as its industry and infrastructure divisions will support the company's earnings in the second half of 2024, according to Public Investment Bank (PublicInvest). (NST)

Public Investment Bank (PublicInvest) remains optimistic about IHH Healthcare Bhd's long-term prospects as the group continues to stay committed to evaluating value-accretive assets in both existing and potential new markets. (NST)

Hong Leong Investment Bank (HLIB) research expects Capital A Bhd to turnaround in the fourth quarter ending Dec 31, 2023 (4QFY23) but post a core loss after tax minority interest (Latmi) of RM550 million for the financial year 2023 (FY23). (NST)

Source: New Straits Times, The Edge Markets The Star 01 December 2023