MQ Market Updates

MQ Market Updates - 31 January 2024

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Publish date: Wed, 31 Jan 2024, 05:05 PM

Bursa Malaysia Bhd's net profit rose 11.39 per cent to RM252.38 million in the financial year ended Dec 31, 2023 (FY23), due to an increases in its operating revenue. (NST)

Yinson Holdings Bhd’s renewables business unit, Yinson Renewables, has completed the acquisition of the 97 MWp Matarani Solar Project in Peru from Grenergy Renewables. (TheStar)

Sapura Energy Bhd's share price fell 10 per cent after it announced that it received a €50 million (RM256.16 million) arbitration claim from the developer of the Yunlin offshore wind farm project, alleging contract breaches. (NST)

Poh Kong Holdings Bhd expects gold prices to climb higher to the US$2,005-US$2,050 per troy ounce range in 2024 amidst expectations on the US Federal Reserve’s interest rate cuts, ongoing geopolitical issues in the Middle East and the complex US-China relations. (TheStar)

MMAG Holdings Bhd, today announced the appointment of Woo Kam Weng as the chairman of the group's aviation arm, MMAG Aviation Consortium Sdn Bhd, as part of the group's restructuring exercise and focus on aviation. (NST)

Avillion Bhd yesterday assured investors that it was business as usual at the property and resort company, despite it and its subsidiaries appearing in a list of undeclared assets of former finance minister Tun Abdul Daim Zainuddin. (NST)

GDB Holdings Bhd, via its unit Grand Dynamic Builders Sdn Bhd has bagged a RM306 million job to build KL Wellness City's flagship hospital in Bukit Jalil, Kuala Lumpur. (NST)

Sunway Real Estate Investment Trust (Sunway-REIT) recorded a revenue of RM190.5mil with a lower net property income (NPI) of RM135.7mil in the fourth quarter of 2023 (4Q23). (TheStar)

Uzma Bhd secured a five-year contract to supply chemicals and related services to Hibiscus Petroleum Bhd’s 35%-owned PM3 offshore oil fields. (TheStar)

RHB Retail Research said Solarvest Holdings Bhd is set to trend higher amid a breakout above the RM1.40 resistance following a surge in trading volume on Tuesday, when the stock charted a fresh 52-week high.

RHB Retail Research said Ranhill Utilities Bhd is looking to resume its uptrend amid its recent sideways consolidation.

Hong Leong Investment Bank (HLIB) Research said MCE Holdings Bhd is poised to establish a higher high formation, reinforced by a white long bullish candlestick formed on Tuesday, and heightened trading volume.

Reneuco Bhd's share price took a downward turn on Wednesday morning, dropping to a historic low of 10 sen as the renewable energy specialist faced the risk of suspension due to the failure to submit its annual report on time.

CIMB Group Holdings Bhd’s results for the fourth quarter ended Dec 31, 2023 (4QFY2023), set to be released on Feb 29, may show a quarter-on-quarter (q-o-q) decline in net profit, partly due to seasonality, but year-on-year (y-o-y) growth is likely to be decent, RHB Research said.

PUC Bhd, which has been thinly traded, is now attracting buying interest after co-founders of Cocoaland Bhd, Lau Pak Lam and Liew Fook Meng, have emerged as substantial shareholders in the integrated media services and payment solutions provider.

Source: New Straits TimesThe Edge Markets The Star 30 January 2024

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