MQ Market Updates - 4 September 2024

MQ Trader

Publish date: Wed, 04 Sep 2024, 05:22 PM

Tropicana Corporation Bhd (KL:TROP) inked a memorandum of understanding (MOU) with GreenRE Sdn Bhd on Tuesday to emphasise its commitment to provide sustainable and green buildings across its property development projects. (TheEdge)

Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) has partnered with South Korean HD Hyundai Marine Solution Co. Ltd (HD HMS), to accelerate maritime decarbonisation efforts. (NST)

AWC Bhd has secured a subcontract worth RM19.9 million from Gamuda Engineering Sdn Bhd for construction works related to a data centre project in Rawang, Gombak. (NST)

Maxis Bhd, controlled by tycoon Tan Sri Ananda Krishnan, is seen as the front-runner for Malaysia’s second 5G network, while Telekom Malaysia Bhd’s (TM) tender submission for the network may likely be disqualified. (TheStar)

Tan Chong Motor Holdings Bhd (TCM) is expected to see an improvement in group sales volume from 2025 onwards, backed by the launch of e-Power Nissan Kicks in 4Q24, as well as new GAC models in Vietnam. (TheStar)

Industrial rubber hose maker Wellcall Holdings Bhd (KL:WELLCALL) is acquiring three parcels of leasehold land in Ipoh, Perak for RM32 million. (TheEdge)

Euro Holdings Bhd (KL:EURO) said the High Court on Tuesday struck out the lawsuit filed by Surian Creation Sdn Bhd against the furniture maker and its former managing director Datuk Seri Lim Teck Boon. (TheEdge)

Betamek Bhd's subsidiary Betamek Research Sdn Bhd has entered into a research collaboration agreement with Institute of Technology Petronas Sdn Bhd (ITPSB). (NST)

Power Root Bhd(KL:PWROOT) has filed for a sukuk wakalah programme with the Securities Commission of Malaysia (SC) to raise funds for working capital, capital expenditure, and to refinance existing borrowings or future financing. (TheEdge)

Chemicals manufacturer Hexza Corp Bhd (KL:HEXZA) said on Tuesday it had acquired 50,000 shares in British semiconductor and software design giant Arm Holdings PLC for US$6.36 million (about RM29.48 million), cash, with the intention of deriving dividend income and for potential capital gains. (TheEdge)

Leading property developer UEM Sunrise Bhd has urged stakeholders in the property industry to utilise technology to make sustainability a priority when building communities. (TheStar)

IOI Corporation Bhd's downstream manufacturing segment is anticipated to show signs of recovery, driven by higher refinery margins and increased demand for oleochemical products ahead of the implementation of the EU Deforestation Regulation (EUDR). (NST)

Magni-Tech Industries Bhd reported a higher net profit of RM44.64mil for its first quarter ended July 31, 2024 (1Q25), up from RM32.72mil in the same quarter last year. (TheStar)

DC Healthcare Holdings Bhd (KL:DCHCARE) has mutually terminated its agreement to acquire aesthetic medical clinic operator I Bella Sdn Bhd for RM70 million, after the parties were unable to agree on the revised terms following a decline in DC Healthcare's share price. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 4 September 2024