MQ Market Updates - 19 June 2024

MQ Trader

Publish date: Wed, 19 Jun 2024, 05:15 PM

TA Securities Holdings Bhd has assigned a fair value of 55 sen to Go Hub Capital, which is set to list on the ACE Market on 3 July. This valuation represents a 57.1 per cent increase from its initial public offering (IPO) price of 35 sen. (TheStar)

Ocean Fresh Bhd (OFB), a frozen seafood company en route to the ACE Market at an initial public offering (IPO) price of 28 sen, has been valued at between 35 sen and 54 sen by analysts. (TheEdge)

Trading in LBS Bina Group Bhd's shares will be suspended today from 9am to 5pm, pending a material announcement. In a filing with Bursa Malaysia Securities yesterday, the property developer said it had requested the trading suspension, including its structured warrants. (NST)

Sunview Group Bhd's subsidiary, Sunview Builders Pte. Ltd., has obtained a RM79.46 million (EUR15.6 million) engineering, procurement, construction and commissioning (EPCC) contract from a Bulgarian company OKOP Solar EOOD. (NST)

Hibiscus Petroleum Bhd’s proposed acquisition of Brunei’s TotalEnergies EP may help boost the group’s earnings profile in the second half of financial year 2025 (2H25) and beyond. The deal would also increase its gas portfolio mix as a new asset – the latter’s block B Maharajalela Jamalulalam is 84% a gas field. (TheStar)

ACE Market-bound BWYS Group Bhd will use the bulk of its initial public offering (IPO) proceeds to set up a new factory in Penang and expand its sheet metal business. (TheStar)

Berjaya Corp Bhd (BCorp) is mulling a venture into the new energy vehicle (NEV) market, following a strategic partnership with China’s Skywell New Energy Automobile Group Co Ltd. Skywell is known for its production of low carbon emission vehicles, including electric buses, vans and trucks. (TheStar)

Packaging solutions provider Scientex Packaging (Ayer Keroh) Bhd's (KL:SCIPACK) net profit slipped marginally by 1.2% to RM10.02 million in the third quarter ended April 30, 2024 (3QFY2024), from RM10.14 million a year earlier, despite higher revenue, primarily due to increased tax expenses. (TheEdge)

Matrix Concepts Holdings Bhd via its subsidiary Megah Sedaya Sdn Bhd has inked a land development agreement with NS Corp for 1,000 acres of prime land in the MVV2.0 development corridor. (TheStar)

Shares of Nestcon Bhd (KL:NESTCON) rose to its highest in 15 months after the construction engineering firm announced that it has bagged two contracts worth a total of RM165.56 million. (TheEdge)

Top Glove Corp Bhd's (Top Glove) net profit rose to RM50.67 million in the third quarter ended May 31, 2024 (3QFY2024), compared to a net loss of RM130.59 million in the corresponding quarter of the previous year. (NST)

Sabah-based integrated property developer KTI Landmark Bhd debuted on the ACE Market today at 30 sen, the same as its initial public offering (IPO) price. Some 15.5 million shares were traded. (NST)

Source: New Straits Times, The Edge Markets The Star 19 June 2024