Teladan Group Bhd's subsidiary Riverwell Resources Sdn Bhd (RRSB) has signed a memorandum of understanding (MoU) with Melaka Corporation (MCORP) to develop a 138 hectare (ha) German Technology Park at Ayer Panas, Jasin, Melaka. The Melaka-based property developer said the proposed project aims to attract German investment into the state of Melaka and strengthen Malaysia-Germany economic ties. (NST)

UOA Development Bhd has signed a memorandum of understanding (MOU) with Trendcell Sdn Bhd, the operator of Jaya Grocer, for a potential collaboration to operate a premium grocery store at the developer's upcoming development — Bamboo Hills Residences, off the DUKE Highway and near Jalan Ipoh, Kuala Lumpur. According to a press statement on Friday, the MOU was signed between UOA Development general manager (projects) Stephanie Kong and Trendcell deputy CEO Daniel Teng. (TheEdge)

Fertility care specialist Alpha IVF Group Bhd opened flat upon its debut on the ACE Market of Bursa Malaysia, with a trading turnover of 12.99 million shares. As at 11.45am, the share remained unchanged from its initial public offering (IPO) price of 32 sen a share, and was the most active counter on Bursa Malaysia with 178.04 million units changing hands. (TheStar)

Yinson Holdings Bhd remains optimistic about its business prospects given the strong demand for energy, although it is also cognisant of the various uncertainties in the markets it operates in. "The floating production storage and offloading (FPSO) market continues to see strong demand for contractors like Yinson, which have an edge in emissions reduction technologies and a solid track record of on-time delivery and safety and operational performance," said the energy infrastructure group in comments accompanying its results filing with Bursa Malaysia. (TheStar)

Astro Holdings Bhd's earnings is expected to remain lower dragged down by declining television (TV) subscription and advertising revenue despite entering a seasonally stronger second half (2H) adex period. Hong Leong Investment Bank Bhd (HLIB) said the company's total number of subscribers continued to decline three per cent year on year (YoY) post sporting seasons. (NST)

Meta Bright Group Bhd said it has begun commercial operations at its solar project under the Solar PV Zero Capex Programme for Sinergi Perdana Sdn Bhd. In a statement, the group said the 401.76kWp solar project, developed by its wholly-owned subsidiary FBO Land (Setapak) Sdn Bhd, is part of a 21-year renewable energy supply agreement that offers Sinergi Perdana a 20% discount to electrical tariff rates, equipped with Imbalance Cost Pass-Through (ICPT). (TheStar)

Sime Darby Bhd is prioritising the integration of UMW Holdings Bhd into the wider Sime Darby ecosystem, especially within the automotive and industrial sectors, to reinforce its competitive edge and expand the conglomerate’s domestic footprint to further drive long-term growth. In a statement on Friday, Sime Darby group chief executive officer Datuk Jeffri Salim Davidson said the move is also in line with the group's 5-Year Strategy Masterplan to grow its core businesses of Industrial and Motors across key regional markets, and strengthen earnings contributions from Malaysia. (TheEdge)

Eco World Development Group Bhd's (Eco World) core net income of RM70.9 million in the first quarter ended Jan 31, 2024 (Q1FY24) comes in within MIDF Research and consensus' full year expectations, making up 25 per cent and 26 per cent respectively. MIDF Research, however, downgraded its call for the stock to "Neutral" from "Buy" previously, with a revised target price of RM1.51 from RM1.33 previously, as it believed that the positives have been largely priced in. (NST)

Shares of Sunway Construction Group Bhd (SunCon) soared to new all-time highs on Friday, as investors cheered the builder’s latest job win, while analysts bet on further upside for its stock price ahead. SunCon climbed as much as 9.6% to RM2.95, sharply outperforming the construction sector and the broader market. The stock was trading at RM2.94 at 10.00am, after some 8.85 million shares changed hands. In contrast, the country’s benchmark index FBM KLCI was a tad lower. (TheEdge)

MGB Group is a subsidiary of LBS Bina Group Bhd. MGB Construction had on Thursday accepted a letter of award (LoA) from Anuar Aziz Architect on behalf of Astana Modal Sdn Bhd for the project. (NST)

Coastal Contracts Bhd is building a luxurious resort in Sabah and can expect profitability to improve once occupancy rate increases. That is one of the reasons for TA Research to adjust its earnings forecasts for 2024-2026 by negative 2.7% to 0.8%. (TheStar)

Source: New Straits Times, The Edge Markets The Star 22 March 2024 

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