MQ Market Updates - 15 November 2024

MQ Trader

Publish date: Fri, 15 Nov 2024, 05:36 PM

Malaysia’s removal from the United States Treasury’s (Treasury) monitoring list indicated that the country’s economic and foreign exchange policies are now viewed as balanced and transparent, said an economist. (TheStar)

Berjaya Food Bhd (BFood), the operator of Starbucks Malaysia, reported a net loss of RM33.7 million for the first quarter of the financial year 2025 (1QFY25), amid an ongoing boycott which has lasted more than a year. (NST)

Mr DIY Group (M) Bhd's share price fell to a three-month low in the morning session after its third quarter (3Q) financial year 2024 results came in below expectations. (NST)

LBS Bina Group Bhd (KL:LBS) announced the signing of a memorandum of understanding (MOU) with Invest Sabah Bhd, Sabah Forestry Development Authority (Safoda) and Midwest Green Sdn Bhd. (TheEdge)

MISC Bhd is expected to record quarter-on-quarter (QoQ) earnings improvement in the fourth quarter (Q4) 2024. (NST)

Contract manufacturer Ge-Shen Corporation Bhd (KL:GESHEN) said on Friday it remains confident of sustaining growth and profitability after its third-quarter net profit rose 46% from a year earlier. (TheEdge)

Bina Puri Holdings Bhd's associate, KL-Kuala Selangor Expressway Bhd (Latar), has won a RM46.13 million award from an arbitration case against Prolintas Expressway Sdn Bhd. (NST)

Citaglobal Bhd has signed a framework agreement with the Port of Baku to establish a 5.4 MW solar photovoltaic (PV) facility, marking Azerbaijan's first commercial renewable energy project to integrate solar power with an advanced Battery Energy Storage System (BESS). (TheStar)

KIP Real Estate Investment Trust (KL:KIPREIT) has acquired a 1.15-acre, or 4,663 sq m, property in Gerik, Perak for RM14.8 million. (TheEdge)

Metro Healthcare Bhd, which transferred its listing from the LEAP Market to the ACE Market today, edged higher on its trading debut. (TheStar)

Gateway Development Alliance Sdn Bhd and its shareholders (the Consortium) have proposed a conditional voluntary take-over offer for all shares in Malaysia Airports Holdings Bhd (MAHB) not already owned by the Consortium, at RM11 per share. (TheStar)

Fertiliser manufacturer and supplier Cropmate Bhd is targeting to raise RM42mil through its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. (TheStar)

Gamuda Land, the property arm of Gamuda Bhd (KL:GAMUDA), and Taylor's Education Group have collaborated to establish affordable international schools within Gamuda Land's townships. (TheEdge)

Meta Bright Group Bhd’s (MBGB) 70 per cent-owned subsidiary, Expogaya Sdn Bhd, has secured a concrete supply contract worth about RM60 million from Megamas Jaya Sdn Bhd. (TheStar)

The proposed merger between Bumi Armada Bhd (KL:ARMADA) and MISC Bhd’s (KL:MISC) offshore businesses is expected to result in MISC holding a 68% majority stake in the new entity, with a combined valuation of RM14.6 billion, according to CIMB Securities. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 15 November 2024