MQ Market Updates

MQ Market Updates - 19 February 2024

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Publish date: Mon, 19 Feb 2024, 05:11 PM

MainStreet Advisers Sdn Bhd, an independent adviser for Rexit Bhd, says the takeover offer from the latter's main shareholders is unfair and unreasonable. (NST)

Zantat Holdings Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia. (TheStar)

Fresh off a record-breaking performance in 2023, Hextar Global Bhd is confident it will sustain its growth momentum moving forward, underpinned by a strong foundation to support expansion in its core business. (TheStar)

TH Plantations Bhd, the plantation arm of Lembaga Tabung Haji, rose to a one-year high on Monday, as its shares surged as much as 17.73% in early trade, pegging it among Bursa Malaysia’s top gainers. (TheEdge)

AirAsia which just celebrated two decades of operations in Singapore is poised to elevate guests' travel experiences with an extensive network expansion to 12 dynamic cities in India, facilitated by its seamless Fly-Thru connecting service. (TheStar)

Hong Leong Investment Bank (HLIB) research said Sunway Bhd is likely to benefit from the lower stamp duty rate on unsold units in Singapore, announced during the country's Budget 2024 statement last Friday. (NST)

Hong Leong Investment Bank (HLIB) research has downgraded KPJ Healthcare Bhd to a "Hold" despite its financial year 2023 results meeting expectations, due to a 25 per cent run-up in its share price since its last report. (NST)

RHB Retail Research said AMMB Holdings Bhd’s price is in the midst of extending the upside movement and testing the immediate resistance. (TheEdge)

RHB Retail Research said AWC Bhd’s price is poised to scale higher after it broke past the key resistance on high volume. (TheEdge)

Analysts are bullish on KPJ Healthcare Bhd’s prospects, driven by rising demand for healthcare services and inpatient admissions, growth from medical tourism as well as ongoing efforts to hire more consultants in line with hospital expansion. (TheEdge)

State-owned fixed-line operator Telekom Malaysia Bhd (TM) needs to return more cash to its shareholders to avoid a long-term drag in its return on equity, CGS-CIMB said. (TheEdge)

Maybank Investment Bank Bhd (Maybank IB) is projecting Cypark Resources Bhd to post a net loss of RM24 million for the financial year ending April 30, 2024 (FY2024), from RM19 million net profit estimated earlier, due to lower revenue from the waste-to-energy (WTE) segment as a result of higher plant outage, higher maintenance and finance costs.  (TheEdge)

Source: New Straits TimesThe Edge Markets The Star 19 February 2024 

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