MQ Market Updates

MQ Market Updates - 27 March 2024

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Publish date: Wed, 27 Mar 2024, 05:28 PM

Topmix Bhd, which launched its initial public offering (IPO) prospectus on Wednesday, expects growth in the local residential and commercial property markets to bode well for its surface decorative products. Topmix derives nearly 100% of its revenue from the domestic market. (TheEdge)

Main Market-bound oil and gas services company Keyfield International Bhd, which aims to raise RM188.1mil from its initial public offering (IPO), has set its sights on fleet expansion. Executive director and group chief executive officer Datuk Darren Kee Chit Hue said the company is eyeing for two additional vessels, having already acquired one in January. (TheStar)

Destini Bhd has proposed to consolidate every 10 existing shares held by its shareholders into one share on an entitlement date to be determined later. According to a bourse filing on Wednesday, the integrated engineering solutions provider said the consolidation would result in an adjustment to the market prices of its shares and warrants B. (TheEdge)

Zantat Holdings Bhd opened at 40 sen a share on its first day of trading on Bursa Malaysia, representing a 15 sen or 60% jump from its initial public offering (IPO) price of 25 sen a share. The high-grade calcium carbonate producer, which was listed on the ACE Market, saw 5.96 million shares changing hands at the opening bell. (TheStar)

Kelington Group Bhd’s 90.71%-owned subsidiary Ace Gases Sdn Bhd has commenced liquid carbon dioxide (LCO2) production at the group’s second LCO2 plant in Kerteh, Terengganu. The start of production at the plant, which has a capacity of 70,000 tonnes per year, brings the group’s overall production capacity of LCO2 to 120,000 tonnes a year. (TheStar)

KJTS Group Bhd's cleaning services subsidiary has secured six contracts from Jabil Sdn Bhd and Jabil Circuit Sdn Bhd for the provision of housekeeping services and floor polishing activities. In a filing with Bursa Malaysia, the group said ETC Cleaning Services Sdn Bhd had accepted the award letters for services ranging from five months to three years at properties owned by the two companies. (TheStar)

OCR Group Bhd has topped out its mixed-development The Mate located in Damansara Jaya, Petaling Jaya with a take-up rate of 80%, according to a press release on Wednesday. The Mate is a mixed-development project made up of three components, which are residential, co-living and co-working spaces. It occupies 1.01 acres of freehold land and has a gross development value of RM145 million. (TheEdge)

Scientex Bhd reported a higher bottom line of RM141.01mil in the second quarter ended Jan 31, 2024 (2Q24), up from RM106.29mil in 2Q23, while earnings per share (EPS) rose to 9.09 sen from 6.85 sen. In a filing with Bursa Malaysia, the group reported revenue of RM1.09bil, up from RM978.39mil previously on the back of improved contribution from the property segment. (TheStar)

Shares in Icon Offshore Bhd surged to a near four-year high in early morning trade on Wednesday after a major shareholder of Yinson Holdings Bhd acquired a controlling stake in the offshore support vessel provider and triggered a mandatory takeover offer. The counter had climbed 17.8% or 13 sen to an intraday high of 86 sen, before paring gains to trade at 78.5 sen, still up 5.5 sen or 7.5%, with 13.85 million shares changing hands. (TheEdge)

Meridian Bhd today announced that it will not be able to release its annual report for the financial period ended Nov 30, 2023 by Mar 29, 2024. Bursa Malaysia Securities' listing requirements stipulates that companies release their annual report within four months of the company's financial close. (NST)

Source: New Straits TimesThe Edge Markets The Star 27 March 2024 

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