MQ Market Updates

MQ Market Updates - 05 April 2024

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Publish date: Fri, 05 Apr 2024, 05:09 PM

Practice Note 17 company Sapura Energy Bhd's unit, Sapura Subsea Services Sdn. Bhd, has bagged a contract to provide Pan Malaysia underwater services from Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Company Limited (SSPC). (NST)

The sale of Edotco's Myanmar tower assets could see the removal of a stumbling block for Axiata Group Bhd by alleviating concerns over the group's investments in frontier markets, say analysts. (TheStar)

Shares in Press Metal Aluminium Holdings Bhd continued to trend higher on Friday, on the back of rising aluminium prices. (TheEdge)

Shares in Velesto Energy Bhd declined on Friday, set for their worst day in 10 months, as CGS International told investors to stop buying the stock, amid concerns of Saudi Aramco's broader suspension of jack-up rigs (TheEdge)

Muhibbah Engineering (M) Bhd is poised to win more contracts from the oil and gas services and public infrastructure segments as both enter up-cycles, says Rakuten Trade Research. (TheStar)

Kenanga Investment Bank Bhd (Kenanga IB) has raised its financial year 2025 (FY2025) net profit forecast for Bintulu Port Holdings Bhd by 14 per cent on "stronger prospects" of a hike in tariffs for the port. (NST)

Apex Securities Bhd has initiated coverage on Matrix Concepts Holdings Bhd with a “buy” rating at RM1.82 and target price of RM2.14, based on a discount rate of 20% to the research house's revalued net asset value (RNAV) (TheEdge)

Rakuten Trade said Powerwell Holdings Bhd may extend its upward trajectory after breaking out from its one-week rectangular pattern with a second consecutive white candle on Thursday. (TheEdge)


Source: New Straits TimesThe Edge Markets The Star 05 April 2024 

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