MQ Market Updates

MQ Market Updates - 10 May2024

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Publish date: Fri, 10 May 2024, 05:08 PM

Technology company Total Dynamic Holdings Bhd has received approval to list on the LEAP market of Bursa Malaysia Securities Bhd by way of introduction. Its the first company this year to receive approval to list on the LEAP market. (NST)

Annum Bhd has been admitted into the Practice Note 17 (PN17) company of Bursa Malaysia. In a statement, Bursa Malaysia said Annum triggered the criteria pursuant to Paragraph 2.1(d) of PN17 of the Main Market Listing Requirements of Bursa Securities. (TheStar)

Main-Market listed Warisan TC Holdings Bhd (KL:WARISAN) has lodged a 30-year medium-term notes (MTN) programme worth RM500 million with the Securities Commission of Malaysia (SC). The move is to raise funds for its capital expenditure, working capital requirements, projects, investments and asset acquisitions, as well as repayment of borrowings, the group told Bursa Malaysia. (TheEdge)

Axiata Group Bhd may face profitability concerns from the potential merger of its Indonesian telecommunications arm PT XL Axiata Tbk (XL Axiata) with PT Smartfren Telecom (Smartfren) in Indonesia. In a report, MIDF Research said while XL Axiata has been profit-making, Smartfren has been in the red. (TheStar)

Debt-ridden Perak Corp Bhd, a 52.9 per cent-owned subsidiary of the Perak State Development Bhd has been granted a further extension of time of six months up to Aug 10, 2024, to submit its regularisation plan to the relevant regulatory authorities for approval. This marks the fifth time that Perak Corp has been granted an extension deadline from Bursa Securities. (NST)

CelcomDigi Bhd has completed 44% of its nationwide network integration and modernisation programme as it modernised over 7,200 sites as at end-April, leading to improved download speeds of 20% to 26% and better signal strength of 13% to 16% in post-consolidation areas. By the end of June this year, CelcomDigi expects to surpass the 50% completion mark in four states and reach 60% in three states. (TheEdge)

Shares of MCE Holdings Bhd (KL:MCEHLDG) rose to their highest level in at least two decades after the automotive parts manufacturer announced that Brahmal Vasudevan of the private equity firm Creador is its newest substantial shareholder. MCE surged as much as 26% or 44 sen to RM2.15 in the early morning session on Friday before paring some gains to trade at RM1.96, still up 25 sen or 15%, making the stock the fourth top gainer on Bursa Malaysia. (TheEdge)

Kerjaya Prospek Group Bhd is expected to post a profit of between RM34 million and RM36 million for its first quarter ending March 31, 2024 (Q1 2024), translating to between 21 per cent and 28 per cent year-on-year (YoY) growth. RHB Research stated in a note that growth during the quarter will be backed by the better progress of ongoing projects such as The Meg and Astrum Ampang. (NST)

Shares of Globetronics Technology Bhd [KL:GTRONIC] surged on Friday as analysts project a promising outlook for the group's earnings in the second half of the financial year 2024 (2HFY2024), despite first quarter performance below consensus expectations. Globetronics’ stock rose by as much as five sen or 4.13% to RM1.26, marking its largest single-day gain since April 24.  (TheEdge)

Source: New Straits TimesThe Edge Markets The Star 10 May 2024 

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