MQ Market Updates

MQ Market Updates - 21 February 2024

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Publish date: Wed, 21 Feb 2024, 05:20 PM

Supermax Corporation Bhd in announcing its second quarter financial year 2024 results said that China glove manufacturers are likely to have taken over global leadership in the rubber glove market, at the very least in  terms of pricing. (NST)

MST Golf Group Bhd is collaborating with Trackman, a provider of indoor golf technology, to bring the latter’s cutting-edge technology to Asia. (TheStar)

Property group MKH Bhd’s wholly owned plantation arm MKH Oil Palm (East Kalimantan) Bhd ­(MKHOP) has signed an underwriting agreement with M&A Securities Sdn Bhd and Kenanga Investment Bank Bhd (Kenanga IB) to jointly underwrite a total of 51.21 million new shares. (TheEdge)

Star Media Group Bhd (SMG) posted a higher pre-tax profit of RM5.5mil in the fourth quarter of 2023 (4Q23) compared with RM1.7mil in the previous corresponding period. (TheStar)

Sime Darby Bhd's net profit surged to RM2.29 billion in the second quarter (Q2) ended Dec 31, 2023, thanks to a RM2.0 billion gain on the disposal of Ramsay Sime Darby Health Care (RSDH) in December 2023. (NST)

Cementing market leadership, boosting operational excellence and brand building will be CelcomDigi Bhd’s three main focus areas for 2024. (TheStar)

Rakuten Trade suggests that Dayang Enterprise Holdings Bhd is primed to sustain its upward trajectory following a breakout from its three-week ascending triangle pattern. (NST)

Analysts are bullish on Sunway Construction Bhd's (SunCon) potential to secure more jobs in FY24 after blowing past the job replenishment target last year. (TheStar)

Hong Leong Investment Bank (HLIB Research) has lowered its financial year 2024 (FY24) prediction for Kuala Lumpur Kepong Bhd (KLK) by 8.2 per cent following the company's first quarter net profit falling short of forecasts. (NST)

Egg producer Teo Seng Capital Bhd closed its financial year 2023 with a record high annual earnings of RM155.8 million, seven times higher than the RM21.64 million it made in FY2022, as it sold more eggs at better selling prices and received subsidy from the government. (TheEdge)

RHB Retail Research said Deleum Bhd is eyeing for a technical breakout after bouncing off the 21-day simple moving average line, while testing the RM1.11 immediate resistance with strong trading volume. (TheEdge)

RHB Retail Research said Hibiscus Petroleum Bhd is set for an uptrend rebound after it breached the RM2.60 immediate resistance with surging trading volume. (TheEdge)

Gamuda Land, the property arm of Gamuda Bhd, signed memorandums of understanding (MOUs) with three higher educational institutions on Feb 3 for research on environment conservation. (TheEdge)

Source: New Straits TimesThe Edge Markets The Star 21 February 2024 

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