MQ Market Updates

MQ Market Updates - 31 May2024

MQ Trader
Publish date: Fri, 31 May 2024, 05:22 PM

S P Setia Bhd’s collaboration with China-based Ant Digital Technologies and JaGaSolution will open more doors for stakeholders and empower collaborations in the future. (TheStar)

Shares in Press Metal Aluminium Holdings Bhd (KL:PMETAL) rose on Friday to their highest in two years, after the company’s first-quarter results beat analysts' and consensus estimates.  (TheEdge)

Datasonic Group Bhd's share price dropped nearly five per cent to 49 sen in early trade this morning despite record-high earnings for financial year 2024 (FY24). (NST)

Axiata Group Bhd is confident of sustaining its minimum dividend payout of 10 sen a share this year as it returned to a profit after three consecutive quarters of losses. (TheStar)

AME Elite Consortium Bhd's subsidiary Golden Symphony Sdn Bhd has entered into a sales and purchase agreement with Dahlia Utama Sdn Bhd to acquire three parcels of freehold land in Kulai, Johor.  (NST)

Hong Leong Investment Bank Bhd (HLIB) has raised its target price for Genting Bhd following its first quarter results that come in within expectations.  (NST)

Hong Leong Investment Bank Bhd's (HLIB) research has raised Malaysia Airports Holdings Bhd's (MAHB) earnings forecasts for financial year 2024 and 2025 after the company posted record profits in the first quarter ended Mar 31, 2024 (Q1FY24). (NST)

Mah Sing Group Bhd has entered into the data centre space by launching Mah Sing DC Hub@Southville City. (TheStar)

Alliance Bank Malaysia Bhd will focus on expanding customer acquisition through new channels, digital platforms, strategic partnerships, productivity improvements and branch enhancements.

Malaysian Resources Corp Bhd’s (MRCB) net profit fell 65% year-on-year (y-o-y) in the first quarter ended March 31, 2024 (1Q24), following lower revenue from its property business and the Light Rail Transit 3 (LRT3) project. (TheStar)

Malaysia Building Society Bhd (KL:MBSB) said its first quarter net profit rose 5.68% to RM78.34 million from RM74.13 million a year ago, thanks to higher financing earnings and consolidation contribution from MIDF Group. (TheEdge)

RHB Retail Research said Kobay Technology Bhd (KL:KOBAY) is poised for a technical breakout after rebounding off the 21-day simple moving average (SMA) line and closing at the immediate resistance of RM2.26. (TheEdge)

RHB Retail Research said LB Aluminium Bhd (KL:LBALUM) is poised to climb upwards after bouncing off the support level, after heading towards the 59.5 sen immediate resistance on Thursday and forming a 'White Marubozu' bullish candlestick.

Rakuten Trade said Superlon Holdings Bhd (KL:SUPERLN) is back on the radar after it broke out from the two-week bullish flag pattern with a long white candle on Thursday.

Nestlé (Malaysia) Bhd’s (KL:NESTLE) has planted 2.8 million trees through its Project RELeaf and the previously accomplished Project RiLeaf.


Source: New Straits TimesThe Edge Markets The Star 31 May 2024 

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