MQ Market Updates - 30 July 2024

MQ Trader

Publish date: Tue, 30 Jul 2024, 05:18 PM

PMB Technology Bhd has proposed to raise about RM300mil via a rights issue, subject to its final issue price and basis of entitlement. (TheStar)

Shares of Chin Teck Plantations Bhd (KL:CHINTEK) rose to their highest in nearly 15 months as investors cheered the palm oil producer's better-than-expected third-quarter results and special dividend. (TheEdge)

Unisem (M) Bhd's net profit fell 30 per cent to RM16.76 million in the second quarter ended June 30, 2024 (2Q24) from a change in product mix and increased operating costs. (NST)

Bursa Malaysia Bhd's net profit rose 5.5 per cent year-on-year (YoY) to RM80.45 million for the second quarter ended June 30, 2024 (Q2 2024) from RM76.25 million in the same period last year due to improved market sentiment. (NST)

CIMB Securities Sdn Bhd projects CelcomDigi Bhd's core earnings per share (EPS) to drop eight per cent in the financial year 2024 (FY24) before rising 19 per cent and 17 per cent in FY25 and FY26, respectively. (NST)

Velocity Capital Partner Bhd was the most actively traded on the stock market after it announced approvals to make direct salary deductions for financing payments and offer offshore banking services. (NST)

Binastra Corporation Bhd is expected to register earnings of RM84.9 million and RM103 million for its financial years ending January 31, 2025 (FY25) and January 31, 2026 (FY26), respectively, following its ability to secure high-value projects and demonstrate strong earnings growth. (NST)

ITMax System Bhd's 65%-owned subsidiary Southmax Sdn Bhd has been appointed the operator of smart parking by the Kulai Municipal Council. (TheStar)

Terminals Langsat's expansion is expected to boost Dialog Group Bhd's recurring income stream while diversifying its terminal operations to cater for renewable fuel products, said Hong Leong Investment Bank Bhd (HLIB) Research. (NST)

Ekovest Bhd's share price rose as much as 3.37 per cent to 46 sen as at 11am following its announcement to sell four parcels of land on Jalan Pahang, Kuala Lumpur in a related party transaction (RPT). (NST)

Datasonic Group Bhd (Datasonic), through its subsidiary Datasonic Technologies Sdn Bhd has secured a RM21.26 million from the Economy Ministry to rent out 818 vending machines. (NST)

Advancecon Holdings Bhd’s wholly-owned subsidiary, Advancecon Infra Sdn Bhd, has secured a RM38.3mil contract from Sime Darby Property Bhd, marking its eighth earthworks contract for the Bandar Bukit Raja township. (TheStar)

Malaysia Airports Holdings Bhd’s (MAHB) airport maintenance cost will rise to 34 per cent in 2024. (TheStar)

IHH Healthcare Malaysia, a unit of IHH Healthcare Bhd, says it is set to transition to a value-based healthcare, in line with the recent call by Health Minister Datuk Seri Dr Dzulkefly Ahmad. (TheStar)

Genting Plantations Bhd’s wholly owned subsidiary, Benih Restu Bhd, has undertaken its first issuance of RM1.2bil in nominal value of Islamic medium-term notes (sukuk wakalah) under the sukuk wakalah programme of RM2bil in nominal value of the syariah principle of wakalah bi al-istithmar. (TheStar)

Avaland Bhd (KL:AVALAND) topped out Alira Subang Jaya, a serviced residence in Tropicana Metropark, Subang Jaya, which has achieved a 95% take-up rate, on Monday (July 29), according to a press statement on Tuesday. (TheEdge)

CIMB Group Holdings Bhd (KL:CIMB), Malaysia's second-largest bank by assets, will likely see softer non-interest income (NII) when it reports its results for the second-quarter ended June 30, 2024 (2QFY2024), according to analysts. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 30 July 2024