MQ Market Updates

MQ Market Updates - 27 May2024

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Publish date: Mon, 27 May 2024, 05:12 PM

Matrix Concepts Holdings Bhd saw its net profit surge by 18.9 per cent to RM246.47 million for the fiscal year ending March 31, 2024 (FY24), compared to RM207.22 million in the prior year. (NST)

A healthy economic growth, sweltering weather and robust tourist arrivals will drive Spritzer Bhd’s sales in 2024, says chief executive officer and executive director Kenny Lim. (TheStar)

Fertilizer company Cropmate Bhd has filed for an initial public offering (IPO) on Bursa Malaysia’s ACE Market to raise funds, including to part finance the acquisition of two factories for nearly RM30 million. (TheEdge)

Powerwell Holdings Bhd's unit, Powerwell International Sdn Bhd has received two purchase orders totalling RM57.61 million for the supply, installation and commissioning of low voltage switchboards and remote power panels for a data centre in Selangor. (NST)

KIP Real Estate Investment Trust (KIP REIT) has entered into a conditional sale and purchase agreement with DPulze Ventures Sdn Bhd for the proposed acquisition of DPulze Shopping Centre in Cyberjaya for RM320 million cash. (TheStar)

AMMB Holdings Bhd (Ambank Group) recorded a 9.4 per cent rise in net profit to RM1.87 billion for the financial year ended March 31, 2024 (FY24) from RM1.71 billion a year earlier. (NST)

Pharmaniaga Bhd's first quarter ended Mar 31, 2024 (Q1 2024) net profit increased almost nine-fold to RM25.65 million from RM2.65 million a year ago, on higher sales from government hospitals and it's Indonesia business.  (NST)

Hong Leong Investment Bank (HLIB) research has cut IOI Corp Bhd's earnings forecast for financial year 2024 and 2025 (FY24-25) by 5.6 per cent and 2.2 per cent. (NST)

Hong Leong Investment Bank (HLIB research) has raised its target price and earnings forecast for Gamuda Bhd after it won its largest data centre jobs yet. (NST)

Tenaga Nasional Bhd (TNB) has partnered with the Malaysian Anti-Corruption Commission (MACC) to improve the governance and management of the nation's power assets.  (NST)

RHB Research is confident Focus Point Holdings Bhd's food and beverage (F&B) unit will turn a profit in FY24, despite a slow start in 1Q24 due to the Ramadhan period. (TheStar)

RHB Retail Research said DS Sigma Holdings Bhd (KL:DSS) is poised to move higher after breaking past the resistance on strong volume. (TheEdge)

RHB Retail Research said KGW Group Bhd (KL:KGW) had staged a bullish breakout, eyeing to extend the upside movement as the counter climbed above the 20 sen resistance on the back of high volume. (TheEdge)

Aesthetic medical services provider DC Healthcare Holdings Bhd (KL:DCHCARE) reported on Monday, its third consecutive quarter of net loss, amid a lower redemption rate in its core business. (TheEdge)


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

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