UEM Sunrise Bhd's second attempt to dispose its South Africa's unit has fallen through again as the buyer Azishe Properties Proprietary Ltd failed to fulfil its payment obligations within the stipulated time frame, according to its filing with Bursa Malaysia Securities. (NST)

ViTrox Bhd said it is confident in achieving steady growth and improvements in the semiconductor back-end sector. (TheStar)

Pesona Metro Holdings Bhd (KL:PESONA) has made a lodgement with the Securities Commission Malaysia (SC) for the establishment of a sukuk wakalah programme of up to RM185 million, based on the shariah principle of 'Wakalah Bi Al-Istithmar'. (TheEdge) 

Prudential plc has emerged as a substantial shareholder at Penang-based automated test equipment (ATE) maker TT Vision Holdings Bhd (KL:TTVHB), after acquiring 293,600 shares in the company. (TheEdge) 

Ahmad Zaki Resources Bhd's unit, Ahmad Zaki Sdn Bhd, has secured a contract from Jabatan Kerja Raya (JKR) valued at RM151.99 million. (NST)

Apex Securities Bhd has cut its target price on Axiata Group Bhd's stock by 13 per cent on impact of anti-government protests in Bangladesh on its business there. (NST)

AME Real Estate Investment Trust's (AME Reit) recent plan to acquire four industrial properties in Iskandar Malaysia is seen as positive due to its strategic location and long-term leases, said RHB Research. (NST)

Porsche AG has bolstered its partnership with Sime Darby Bhd with the expansion of the German marque's assembly facility in Malaysia, its first outside Europe. (NST)

YTL Corp Bhd’s acquisition of a majority stake in a Singapore-listed building materials company is expected to result in a marginal increase in the net gearing of the Malaysian engineering and construction conglomerate. (TheStar)

Top Glove Corp Bhd is poised to benefit from the potential demand recovery from distributors’ accelerating restocking cycle, regional producers’ average selling price (ASP) upcycle and the potential deterioration of the US-China trade tensions, says UOB Kay Hian (UOBKH) Research. (TheStar)

The vape market continues to chip away at the earnings of British American Tobacco (M) Bhd, which yesterday posted a 23% second-quarter decline in its bottomline from the previous year. (TheStar)

Luxchem Corp Bhd said it remains cognisant of several key challenges to its outlook but will continue to improve its productivity and efficiency to face these uncontrollable external factors. (TheStar)

Shares of Gadang Holdings Bhd (KL:GADANG) erased three weeks of gains after TA Securities, the sole research house covering the stock, downgraded the construction company to ‘sell’ on weaker-than-expected results. (TheEdge) 

Source: New Straits Times, The Edge Markets The Star 25 July 2024

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