MQ Market Updates

MQ Market Updates - 22 February 2024

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Publish date: Thu, 22 Feb 2024, 05:14 PM

Berjaya Food Bhd (BFood) posted a net loss of RM42.6 million in the second quarter ended Dec 31, 2023, against a net profit of RM35.5 million a year ago, as the boycott on Starbucks continued. (NST)

Maxis Bhd's service revenue hit a five-year high of RM8.57bil in FY23, underpinned by revenue growth across its consumer and enterprise businesses. (TheStar)

Sime Darby Plantation Bhd is looking forward to a satisfactory performance in the new financial year, as the labour situation improves alongside the rehabilitation of its Malaysian upstream operations. (TheStar)

Frontken Corp Bhd’s net profit for the financial year ended Dec 31, 2023 (FY2023) dipped 9% to RM111.95 million from RM123.29 million a year earlier, against the backdrop of slower demand from the semiconductor industry. (TheEdge)

LBS Bina Group Bhd saw a significant increase in revenue by 58.9 per cent to RM596.7 million in the fourth quarter of its financial year ended Dec 31, 2023 (4QFY23), compared to the same period last year. (NST)

Sime Darby Bhd's strong performance in Malaysia's motor and Australasia's industrial divisions are expected to cushion headwinds coming from China. (NST)

Axiata Group Bhd, which posted a net loss of RM1.99 billion for the financial year ended Dec 31, 2023, said it is exiting Myanmar as part of its value erosion management efforts. (NST)

Oil palm plantation company MKH Oil Palm (East Kalimantan) Bhd (MKHOP) has signed an underwriting agreement with M&A Securities Sdn Bhd and Kenanga Investment Bank Bhd for its initial public offering (IPO) on the Main Market of Bursa Malaysia. (TheStar)

Uzma Bhd, with an order book worth RM2.4bil, stands in a good position to secure more contracts for its upstream oil and gas (O&G) services, translating to improvement in its earnings growth for this year and next. (TheStar)

Eastern & Oriental Bhd (E&O) said it is encouraged by its recent performance and expects the momentum to persist in the coming quarter. (TheStar)

CIMB Group Holdings Bhd's 92.5% indirectly held Indonesian subsidiary PT Bank CIMB Niaga Tbk (CIMB Niaga) posted a 26.7% year-on-year (YoY) jump in pre-tax profit (PBT) to IDR8.4 trillion in 2023 (FY23), translating to earnings per share of IDR259.45. (TheStar)

RHB Retail Research said Greatech Technology Bhd is set for an uptrend rebound after it bounced off the 21-day simple moving average line and breached the RM4.71 immediate resistance with improved volume. (TheEdge)

Rakuten Trade said Public Bank Bhd may trend higher after it hit a new 52-week high on Wednesday breaking out from its four-month triangle pattern. (TheEdge)

RHB Retail Research said CCK Consolidated Holdings Bhd is set to trend higher after breaking above the 93 sen immediate resistance with strong trading volume. (TheEdge)

Source: New Straits TimesThe Edge Markets The Star 22 February 2024 

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