MQ Market Updates

MQ Market Updates - 12 June 2024

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Publish date: Wed, 12 Jun 2024, 05:41 PM

Johor state-owned Johor Plantations Group Bhd looks to debut on the Main Market on July 9 as the largest initial public offering (IPO) year-to-date. (TheStar)

Shares of SNS Network Technology Bhd surged on Wednesday ahead of its transfer listing to Main Market of Bursa Malaysia tomorrow. (NST)

Soaring Success Sdn Bhd, a company linked to the Loh family, has emerged as the largest shareholder in Oriental Holdings Bhd (KL:ORIENT), while some family members have ceased to have deemed interest. (TheEdge)

Petra Energy Bhd (KL:PENERGY) has secured a letter of award (LOA) from Petroliam Nasional Bhd (Petronas) in relation to the Banang Late Life Asset Production Sharing Contract (PSC) for a 10-year period until June 2034. (TheEdge)

Information technology (IT) services firm Go Hub Capital Bhd on Wednesday launched its initial public offering (IPO) that will raise RM37.5 million for its listing on the ACE Market. (TheEdge)

Bermaz Auto Bhd (BAuto) is expected to benefit from the Philippines market's post-pandemic recovery, according to Hong Leong Investment Bank Bhd (HLIB). (NST)

Solarvest Holdings Bhd’s (KL:SLVEST) is expected to rake in revenue of between RM600 million and RM700 million in the financial year ending Dec 31, 2025 (FY2025) on increased overseas contributions, project developer sales and trading of renewable energy certificates (RECs). (TheEdge)

Talam Transform Bhd's (KL:TALAMT) shares were one of the most active in early trade on Wednesday, gaining half sen or 25% to 2.5 sen, following the demise of its major shareholder Tan Sri Chan Ah Chye. (TheEdge)

Hong Leong Investment Bank (HLIB) said the risk–reward ratio for Alpha IVF Group Bhd (KL:ALPHA) is attractive and that technically, the counter is trading at a strong support region of 30 sen-31 sen. (TheEdge)

Inari Amertron Bhd (KL:INARI) soared 11.78% at mid-morning on Wednesday and led the technology-linked stocks on Bursa Malaysia, tracking the overnight rally at Wall Street, with the S&P 500 and Nasdaq registering record closing highs. (TheEdge)

Shares of Synergy House Bhd (KL:SYNERGY) climbed to a new record high on Wednesday after the furniture exporter was appointed as an authorised service partner for an undisclosed US online home retailer. (TheEdge)

Kenanga Research has kept its neutral call on the utilities sector given its earnings defensiveness, modest growth prospects and decent dividend yields of between 3% and 6%, with its top pick being Tenaga Nasional Bhd (KL:TENAGA). (TheEdge)

Ecoscience International Bhd (KL:EIB), an integrated palm oil milling services provider, has secured a RM61.8 million contract for the construction of a crude palm oil (CPO) pretreatment plant and a plant, machinery, and equipment (PME) plant in Port Dickson. (TheEdge)

RHB Investment Bank Bhd (RHB Research) believes the market has underpriced the potential from Google's investment in Sime Darby Property Bhd's (SD Property) Elmina Business Park (EBP), and almost doubled its target price for SD Property stock to RM2 a share.(NST)

Shares of Managepay Systems Bhd (KL:MPAY) rose to their highest in nearly five months on Tuesday after the electronic payment services firm secured a contract to develop an app for national railway company Keretapi Tanah Melayu Bhd (KTMB). (TheEdge)

Shares of Sunway Construction Group Bhd (KL:SUNCON) charted another new all-time high on Tuesday after one of its data centre contracts was upsized to RM3.2 billion, from RM1.7 billion. (TheEdge)


Source: New Straits TimesThe Edge Markets The Star 12 June 2024 

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