MQ Market Updates - 06 February 2024

MQ Trader

Publish date: Tue, 06 Feb 2024, 05:16 PM

Hartalega Holdings Bhd has returned to profitability with a net profit of RM22.38 million in the third quarter ended Dec 31, 2023 thanks to lower raw material costs and reduced utilities expenses. (NST)

Metal fabricator and assembler Wentel Engineering Holdings Bhd's share price was up as much as 9.62 per cent, or hit a high of 29 sen, on its debut on the ACE market of Bursa Malaysia today. (NST)

Total surface decorative products company, Topmix Bhd has entered into an underwriting agreement with M&A Securities Sdn Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. (TheStar)

YNH Property Bhd yesterday told Bursa Malaysia Securities Bhd that an earlier plan to sell both 163 Retail Park and AEON Seri Manjung to ALX Asset Bhd could not go throughbecause ALX Asset could not raise the funds to complete the 163 Retail Park deal. (NST)

CelcomDigi Bhd has partnered with Ampang Jaya Municipal Council (MPAJ) for the digital development of Hulu Kelang, to expedite the districts' transformation into a smart city. (NST)

RHB Retail Research said CTOS Digital Bhd is set for an uptrend reversal after experiencing a technical breakout above the RM1.47 immediate resistance, supported by strong trading volume. (TheEdge)

RHB Retail Research said Datasonic Group Bhd is poised for an uptrend rebound after bouncing off the 21-day simple moving average line and testing the 46 sen immediate resistance level on higher trading volume. (TheEdge)

Kenanga Research said despite Top Glove Corporation Bhd’s sideways consolidation, the recent crossover of its 50-day simple moving average (SMA) above the 200-day SMA indicates a potentially brighter outlook. (TheEdge)

While Capital A Bhd's forthcoming quarterly results might fall short due to decreased demand and lower fares during the period, optimism persists on the group's efforts to address its Practice Note 17 (PN17) status, said Maybank Investment Bank. (TheEdge)

Kenanga Research expects Gas Malaysia Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) to reach RM88 million, up 3% quarter-on-quarter, bringing cumulative full-year earnings for the financial year 2023 (FY2023) to RM368 million, driven by higher sales volume from the glove sector and higher gas selling price. (TheEdge)

UEM Sunrise Bhd announced its partnership with Alliance Bank Malaysia Bhd to provide home financing solutions to homebuyers under the Alliance Home Complete Programme, according to a statement on Tuesday. (TheEdge)

Shares of container haulage company Swift Haulage Bhd soared as much as 8.3% to hit its intraday high of 58.5 sen in the morning session on Tuesday, following news that Singapore-based logistics company JWD Asia Holding Pte Ltd will emerge as a substantial shareholder with a 20.44% equity interest. (TheEdge)

Source: New Straits Times, The Edge Markets The Star 06 February 2024