FBM KLCI finished lower after a lacklustre trading session. The benchmark index lost 0.38% or 5.44 points to close at 1,440.11. Losers were led by PETDAG, PCHEM and PPB. Market breadth was negative with 572 losers against 341 gainers. Total volume stood at 2.97bn shares valued at RM1.94bn. Major regional indices trended mixed. Nikkei225 and HSI lost 1.54% and 1.36% to close at 31,872.52 and 17,373.03 respectively. Meanwhile, SHCOMP and STI gained 0.10% and 0.22% respectively to end at 3,110.48 and 3,206.99 respectively. Wall Street closed marginally higher. The DJIA gained 0.35% to end at 33,666.34. S&P500 and Nasdaq added 0.59% and 0.83% to finish at 4,299.70 and 13,201.28 respectively.
Kerjaya Prospek bags RM203m concrete structure job
Kerjaya Prospek Group has secured a contract worth RM203.06m from Samsung-KP the JV 30:70 JV between Kerjaya Prospek (M) SB and Samsung C&T (KL) SB, to undertake the concrete structure works of Texas Instruments Electronic Malaysia SB's factory in Melaka. With the new contract, for which the group received and accepted the letter of award on Sept 25, the group's YTD contract wins, in terms of value, stand at RM1.2-RM1.3bn, with an outstanding order book of RM4.5bnThe Edge Markets
Sapura Energy records RM42.81m 2Q net profit
Sapura Energy has recorded a 2QFY1/24, after recording a net profit of RM42.8m, against a net loss of RM2.59m YoY. The stronger performance was mainly due to lower depreciation, a higher share of profit from joint ventures and associates, as well as favourable foreign exchange gain from the appreciation of the US dollar against the ringgit.– The Star
SSF Home seen expanding retail outlets post-listing
SSF Home, which is principally involved in the retail of furniture, home décor and home living products via its retail and online channels, is expected to grow from further establishment of new retail outlets, and enhancement of its IT infrastructure. Post-listing, SSF Home intends to open 18 new retail outlets: three in the central region, seven in the northern region, six in the southern region, and two in East Malaysia.–The Edge Markets
Hiap Teck’s 4Q net profit jumps 74% to RM42.6m
Hiap Teck’s 4QFY7/24 net profit jumped 74.1% YoY to RM42.6m. The group said with the successful ignition of the new 2.0m MT blast furnace in August 2023, the JV entity’s steel production capacity has increased from 0.70m MT to 2.7m MT. The board of directors is pleased to propose a first and final single-tier dividend of 0.50 sen per share for FY23, subject to shareholders’ approval at the forthcoming annual general meeting.-The Star
Glomac’s 1QFY4/24 earnings ease after projects completed
Glomac's 1QFY4/24 net profit dropped 21.5% YoY to RM4.06m due to lower contribution from its property development business after the completion of several projects, coupled with a dearth of new launches. For the remainder of the year, Glomac said it is “cautiously optimistic” of an improvement in the property market.– The Edge Markets
Wall Street closed higher despite being faced with numerous headwinds namely high treasury yields and a possible shutdown on October 1. The DJI Average added 116 points while the Nasdaq gained 108 points as the US 10-year yield edged to 4.579% which is new a 15-year high. Meanwhile in Hong Kong, the HSI tumbled 238 points on concerns over the rising US treasury yield, high crude oil prices and the deepening China property woes as trading on China Evergrande was suspended after several executive from the company were detained. On the local front, the FBM KLCI ended lower to the 1,440 level due to the lack of fresh catalysts amid a mixed regional performance. Selling was broad-based although some buying was seen on energy stocks predominantly due to the strong crude oil prices. Though we expect some degree of bargain hunting to return, market undertone remains cautious thus we expect the index to hover between the 1,435-1,445 today.
Source: Rakuten Research - 29 Sept 2023
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2024-11-24
SAPNRG2024-11-22
KERJAYA2024-11-22
KERJAYA2024-11-21
GLOMAC2024-11-21
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KERJAYA2024-11-21
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SAPNRG2024-11-21
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SAPNRG2024-11-15
HIAPTEK2024-11-15
HIAPTEK2024-11-14
GLOMAC2024-11-14
GLOMAC2024-11-14
HIAPTEK2024-11-13
SAPNRG2024-11-13
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SAPNRG2024-11-12
GLOMAC2024-11-12
KERJAYA2024-11-12
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KERJAYACreated by rakutentrade | Nov 22, 2024
qqq668
SapuraOMV first disposed 50% stake in their oil n gas production sharing contracts in 2019 for 3.9 to 4.5 B, the balance 50% is fetching much higher price. Inline with my earlier projection. When some people dampening the sentiment by saying they are only worth 2.3B few months back . Now the value is 5.73 B, and many are fighting to acquire.
2023-10-21 10:23