MQ Market Updates - 05 February 2024

MQ Trader

Publish date: Mon, 05 Feb 2024, 05:28 PM

DXN Holdings Bhd has entered the Brazilian market due to its optimism over Brazil's growth potential and the opportunity it presents for consumer businesses, according to its founder, Datuk Lim Siow Jin. (NST)

Fraser & Neave Holdings Bhd’s (F&N) sales performance is expected to remain strong in the second quarter of its current financial year (2Q24), driven by seasonal demand during the Chinese New Year period and resilient growth in tourist arrivals in Thailand. (TheStar)

Malakoff Corporation Bhd, an energy generation and environmental solutions company, has recently achieved a milestone by securing a “Gold” Impact Assessment from Malaysian Rating Corporation Bhd (MARC Ratings) for its sustainable finance framework. (TheEdge)

Tan Chong Motor Holdings Bhd's indirect wholly owned subsidiary TC Services Vietnam Co Ltd (TCSV) has been appointed as the agent for importing, distributing and selling vehicles and spare parts, as well as providing after-sales services for fuel vehicles in Vietnam on behalf of Chinese car manufacturer Guangzhou Automobile Group Co Ltd (GAC Group). (TheEdge)

Kuala Lumpur Kepong Bhd (KLK) is undertaking an unconditional voluntary take-over offer to acquire the remaining 40.24 million shares in KLK Sawit Nusantara Bhd. (NST)

Bursa Malaysia’s average daily value (ADV) is expected to strengthen in 2024, following two years of modest performance. (TheStar)

Analysts are positive over Mah Sing Group Bhd’s growing presence in the industrial development space. (TheStar)

TRC Synergy Bhd's RM358 million Subang airport job win has allayed Hong Leong Investment Bank Bhd research's near-term concerns on its rapidly depleting orderbook. (NST)

OM Holdings Ltd’s (OMH) ferroalloy smelting plant in Samalaju Industrial Park, Bintulu, is expected to raise its production output with the stablisation of capacity utilisation from this year onwards. (TheStar)

Teo Seng Capital Bhd is expected to keep its earnings momentum going over the next few quarters as it ramped up its production capacity for eggs and collects on government subsidies, said Hong Leong Investment Bank (HLIB) Research. (TheStar)

RHB Retail Research said Public Bank is aiming to extend its bullish movement after breaking past a key resistance. (TheEdge)

Kenanga Research has initiated coverage on Karex Bhd with an “outperform” rating at 78 sen and a target price of RM1, saying the stock is riding on the strong growth of the condom industry, focusing on high-margin products which will take its profitability to a higher level. (TheEdge)

Analysts have remained bullish on Westports Holdings Bhd following its resilient financial performance in its financial year ended Dec 31, 2023 (FY2023), against the backdrop of expectations of a recovery in regional trade activities and minimal impact from the Red Sea crisis. (TheEdge)

Maybank Investment Bank Bhd (Maybank IB) has maintained its "buy" call on Axiata Group Bhd, continuing to view the telecommunications group's overall risk-reward as being positive. (TheEdge)

Source: New Straits Times, The Edge Markets The Star 05 February 2024