MQ Market Updates

MQ Market Updates - 16 May2024

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Publish date: Thu, 16 May 2024, 05:18 PM

Property developer UEM Sunrise Bhd (KL:UEMS) and its partners plan to develop a 40-acre renewable energy industrial park in Iskandar Puteri, Johor. (TheEdge)

ACE Market-bound Smart Asia Chemical Bhd’s public portion shares under its initial public offering (IPO) have been oversubscribed by 37.98 times. (TheStar)

The planned privatisation of Malaysia Airports Holdings Bhd (MAHB) will further enhance its competitiveness and consequently stimulate economic growth through its network of airports, analysts said. (NST)

A three-member Court of Appeal bench on Thursday upheld a High Court decision given two years ago, which had dismissed an Inland Revenue Board (IRB) claim of taxes amounting to RM1.8 billion against Tenaga Nasional Bhd (KL:TENAGA). (TheEdge)

Sarawak Energy Bhd (SEB), the Sarawak-owned electric utility company, aims to generate 10,000 megawatts (MW) of energy by the end of 2030 and expand business beyond Borneo. (NST)

Kenanga Research is positive about the near-term prospects of Mah Sing Group Bhd following an overwhelming response to the recent launches of housing projects in Bangi and Sepang in Selangor. (TheStar)

Sin-Kung Logistics Bhd made a flat debut on the ACE Market, opening at 13 sen per share, unchanged from its initial public offering (IPO) price. (TheStar)

Aeon Co (M) Bhd's net profit which rose 54.1 per cent in the first quarter of 2024 (Q1 2024) is above Affin Hwang Investment Bank Bhd and consensus' estimates. (NST)

RHB Retail Research said UMediC Group Bhd (KL:UMC) is eyeing to resume its uptrend following a recent pullback as it bounced off the 21-day simple moving average (SMA) line on Wednesday, heading towards the 72 sen immediate resistance. (TheEdge)

RHB Retail Research said ECA Integrated Solution Bhd (KL:ECA) is eyeing a technical rebound after attempting to close above the 42 sen consolidation phase on Wednesday. (TheEdge)

Shares in Apex Healthcare Bhd (KL: AHEALTH) fell again on Thursday, and may be on track for their worst day in nearly a year, after the pharmaceutical company posted weaker-than-expected first-quarter results. (TheEdge)


Source: New Straits TimesThe Edge Markets The Star 16 May 2024 

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