MQ Market Updates

MQ Market Updates - 02 February 2024

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Publish date: Fri, 02 Feb 2024, 05:12 PM

Hibiscus Petroleum Bhd' wholly owned subsidiary Anasuria Hibiscus UK Ltd (AHUK) has secured two blocks/part blocks of mature, producing areas in Central North Sea from the UK North Sea Transition Authority (NSTA). (NST)

Westports Holdings Bhd registered a record container volume of 10.88 million TEUs, defying expectations of a low growth rate for its container throughput. (TheStar)

T7 Global Bhd has marked its foray into Thailand waters with a RM400 million contract for its latest mobile offshore production unit (Mopu) named TSeven Shirley which will be leased to Valeura Energy Inc, operator of the Nong Yao oil field, in support of its Nong Yao C development. (TheEdge)

UMW Holdings Bhd's shares, first listed on the local stock exchange in 1970, will be suspended from trading on the local stock exchange next Friday, on Feb 9, 2024. (NST)

Rapid Synergy Bhd's share price hit a high of RM1.46 a share today after the company said it agreed to a RM12.5 million liquidated damages condition in the sale of its Sri Hartamas land in view of costs to be incurred by the purchaser for plot ratio approvals and earth and clearing works. (NST)

RHB has revised its earnings forecasts for CTOS Digital Bhd to 2.8 per cent and 6.9 per cent for 2024 and 2025 given its sustainable growth prospect from various digital solutions and analytical insights. (NST)

TSA Group Bhd made its debut on Bursa Malaysia's ACE Market at 58 sen today -- notching a premium of three sen over its initial public offering (IPO) price of 55 sen. (TheStar)

RHB Retail Research said CEKD Bhd is set for an uptrend rebound after it bounced off the 21-day simple moving average line and breached the immediate resistance of 49 sen on a surge in trading volume. (TheEdge)

TA Securities has maintained its “buy” rating on Mah Sing Group Bhd at 94 sen, with a higher target price (TP) of RM1.19 (from 95 sen), and said it is positive on a deal for Fusion Heights Development Sdn Bhd (FHD), a wholly-owned subsidiary of 70%-owned Mah Sing South Sea Industrial Development Sdn Bhd (MSSSID), for a sale and purchase agreement for the acquisition of a 185-acre land from Premier Land Resources Sdn Bhd (the landowner) at a purchase consideration of RM101 million (or RM12.50 psf). (TheEdge)

Rakuten Trade said Tenaga Nasional Bhd (TNB) may extend its upward trajectory after it broke out from the three-week bullish rectangular pattern and surpassed the immediate resistance of RM10.60 with a long white candle. (TheEdge)

Source: New Straits TimesThe Edge Markets The Star 02 February 2024

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