MQ Market Updates - 20 June 2024

MQ Trader

Publish date: Thu, 20 Jun 2024, 05:40 PM

Telekom Malaysia Bhd's (TM) joint venture (JV) with Nxera MY Pte Ltd to develop a data centre in Johor will contribute positively to TM's bottomline from 2029 onwards. Public Investment Bank Bhd (PublicInvest) noted the bottomline contribution was based on the assumption that the construction period will run for two years. (NST)

Malton Bhd (KL:MALTON) has partnered with RHB Banking Group to offer green financing options for homebuyers at its River Park Bangsar South development here via the bank's Green Home Financing programme. (TheEdge)

Genting Bhd today announced that two of units have joined forces to commission a US$962 million (RM4.5 billion) floating liquefied natural gas (LNG) facility to be used in West Papua, Indonesia. The facility will have a 1.2 million metric tons per annum capacity, the company said in a filing with Bursa Malaysia Securities. (NST)

OCK Group Bhd is well-positioned to benefit strongly from 5G deployment in Malaysia, thanks to its solid execution track record in rolling out 3G/4G sites under projects initiated by the Malaysian Communications and Multimedia Commission (MCMC) and Jendela. (NST)

Medical consumables maker UMediC Group Bhd plans to nearly double its targeted production capacity of HydroX prefilled humidifiers, considering the robust demand for the product. (TheStar)

Yinson Holdings Bhd’s (KL:YINSON) earnings will likely improve ahead thanks to contributions from new vessels and new projects amid strong global demand, analysts said following the oil-and-gas services firm’s latest results. (TheEdge)

Top Glove Corp Bhd (KL: TOPGLOV) has returned to the black after seven consecutive quarters of losses thanks mostly to land sale and currency gain. (TheEdge)

Eco World Development Group Bhd's net profit for the second quarter ended April 30, 2024 (2QFY24) rose 11.7 per cent year-on-year (YoY) to RM70.05 million from higher sales contribution from active and newly launched phases. It made a net profit of RM62.7 million in the same period last year. (NST)

OSK Holdings Bhd is seeing a strong growth in capital financing, which recorded a pre-tax profit of RM26.1mil in the first quarter of 2024 (1Q24). This is an increase of 13.6% quarter-on-quarter and 41.8% year-on-year, said Hong Leong Investment Bank (HLIB) Research. (TheStar)

Tex Cycle Technology (M) Bhd has announced that its 30%-owned GLT BP Power Sdn Bhd biogas power plant in Bukit Pasir, Johor, has commenced operations. (TheStar)

Aeon Credit Service (M) Bhd (KL:AEONCR) wants to enhance its asset quality while expanding its business reach to higher income segments to position itself for sustained earnings growth. (TheEdge)

Sunway Property, the property arm of Sunway Bhd (KL:SUNWAY), announced in a statement Thursday that the third phase of its Sunway Aviana Residence landed strata development in Johor, comprising 90 units, has achieved a 95% take-up rate within a month of its launch. (TheEdge)

Source: New Straits Times, The Edge Markets The Star 20 June 2024