MQ Market Updates

MQ Market Updates - 19 April 2024

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Publish date: Fri, 19 Apr 2024, 05:14 PM

Kimlun Corporation Bhd's pipeline of opportunities looks robust with stronger private sector optimism as well as rollout of basic and big ticket infrastructure projects.  (NST)

EG Industries Bhd has signed a second letter of intent with US-based Cambridge Industries Group (CIG) to produce the next-generation 1.6T advanced high-speed optical signal transmitter and receiver for 5G wireless networks at EG Industries’ new Smart Factory 4.0 in Penang (PG2). (TheStar)

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said. (TheEdge)

Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cybersecurity solutions post-passage of the new cybersecurity bill. (NST)

MKH Oil Palm (East Kalimantan) Bhd’s (MKHOP) initial public offering (IPO) has been oversubscribed by 8.4 times ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd. (TheStar)

LBS Bina Group Bhd has unveiled BSP Sutera, a residential development poised to redefine modern living in Bandar Saujana Putra. (NST)

Datuk Farhash Wafa Salvador has ceased to be a substantial stakeholder of Heitech Padu Bhd. (TheStar)

The outlook is bright for Keyfield International Bhd as its timely expansion into the accommodation work barge (AWB) market puts the company in position to capitalise on a market upcycle, said Kenanga Research. (TheStar)

IGB Real Estate Investment Trust's (IGB-REIT) first quarter (Q1) ended March 31, 2024. results were in line with expectations, according to RHB Research. (NST)

Jaycorp Bhd is expected to see lower furniture sales moving forward, due to the weaker consumer sentiment on discretionary spending including furniture as well as potential weakness in its export channels. (NST)

Feytech Holdings Bhd has entered into an underwriting agreement with TA Securities Holdings Bhd and AmInvestment Bank Bhd for its initial public offering (IPO) on the Main Market of Bursa Malaysia. (NST)

PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year. (TheEdge)

RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend, after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line. (TheEdge)

RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, making this its fourth attempt this year. (TheEdge)

Rakuten Trade said United U-Li Corporation Bhd may trend higher after breaking out from its two-week bullish flag pattern with a long white candle on Thursday. (TheEdge)

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion. (TheEdge)

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70). (TheEdge)


Source: New Straits TimesThe Edge Markets The Star 19 April 2024 

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