Guan Chong Bhd has invested £34 million to establish an industrial chocolate factory with 16,000 tonnes of annual capacity to capitalise on the demand for chocolate in the United Kingdom. Guan Chong managing director and chief executive officer Brandon Tay Hoe Lian said the UK is one of the largest chocolate-consuming countries in Europe with an average consumption of 8.1kg per capita. (NST)

Malaysian Resources Corp Bhd’s (MRCB) growth prospects will continue to be supported by its unbilled sales and new launches from its property arm, and long-term construction order book. RHB Research said MRCB’s core earnings for the nine-month period for the financial year 2023 (9M23) of RM20.8mil missed expectations at 44% of both its and the street’s full-year projections. (TheStar)

UEM Edgenta Bhd’s indirect wholly-owned subsidiary Edgenta International Investments LLC (EII) has entered into a sale and purchase agreement and shareholders’ agreement with United Arab Emirates (UAE)-based NW Kaizen Holding Ltd to acquire 60% equity interest in Kaizen Owner Association Management Services LLC (KOA) and Kaizen AMS Property Supervision LLC. In a filing with Bursa Malaysia on Monday, UEM Edgenta said the acquisition would be for AED43.2 million (RM55.1 million) in cash. (TheEdge)

Axiata Group Bhd's swift divestment of its 80% stake in Nepal-based mobile service unit, Ncell, for US$50 million (approximately RM233.6 million) is seen as a positive step despite low valuation, said analysts, considering market concerns about uncertainties regarding the telecommunication group’s ability to find a suitable buyer for Ncell. This is due to the prolonged regulatory challenges and uncertainties surrounding Ncell, related to the outstanding capital gains tax (CGT). (TheEdge)

Malakoff Corp Bhd has teamed up with Abu Dhabi Future Energy Company PJSC (Masdar) to identify potential business opportunities through investment and development of solar photovoltaic power plant project development, with a targeted aggregate capacity of up to 1,000MW, and explore other renewable energy (RE) projects opportunities in Peninsular Malaysia. In a statement, Malakoff said the collaboration will involve conducting technical and commercial assessments of specific projects that have been identified, and collaborating on the development, implementation and management of the projects, including the financing arrangements in accordance with the RE transition. (TheEdge)

Cypark Resources Bhd has inked a memorandum of understanding (MOU) with Abu Dhabi Future Energy Company PJSC (Masdar) to explore various renewable energy-related projects in Malaysia, according to a filing with Bursa Malaysia on Monday. The group said the partnership also will explore development of battery energy storage systems, and aims to develop a one-gigawatt project in Malaysia. (TheEdge)

Hong Leong Investment Bank (HLIB) Research said Carlsberg Brewery Malaysia Bhd is technically grossly oversold, with key support pegged at the RM18.11 to RM18.75 region. In a technical tracker note on Monday, the research house said that notably, over the past three years, Carlsberg had demonstrated a 100% rebound rate in comparable technical situations, yielding an average return of 9.9%. (TheEdge)

RHB research remains upbeat on IHH Healthcare Bhd's expansion plans, given its unique geographical presence that gives it exposure to high-growth regions. The company is looking to increase new bedcount in developing countries like Malaysia and India, while shifting its focus to preventive care in mature markets such as Hong Kong and Singapore, such as expanding ambulatory care services to ease the congestion in hospitals. (NST)

RHB Retail Research said Dufu Technology Corp Bhd is resuming the upside movement after breaking past the resistance with a bullish candlestick. In a trading stocks note on Monday, the research house said that on last Friday, the stock climbed above the RM1.80 resistance and charted a long bullish candlestick. (TheEdge)

Source: New Straits Times, The Edge Markets The Star 04 December 2023

Need a Trading Account?

Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!

Contact Us

Please do not hesitate to contact us if you have any inquiries:

Facebook: https://www.facebook.com/mqtrader 
Instagram: https://www.instagram.com/mqtrader 
MQ Chat: https://messenger.i3investor.com/m/chatmq 
YouTube: https://www.youtube.com/channel/UCq-26SGjlQTVQfO7DoEihlg 
Email: admin@mqtrader.com