DBKL expands scope of KL street lighting job for ITMAX by RM47.2m
https://theedgemalaysia.com/node/700250

ITMAX System attempting to stage a bullish breakout, says RHB Retail Research
https://theedgemalaysia.com/node/699044

Sime Darby Property, Lagenda Properties 50-50 Joint Venture To Revolutionise Affordable Housing
https://www.businesstoday.com.my/2024/01/24/sime-darby-property-lagenda-properties-50-50-joint-venture-to-revolutionise-affordable-housing/

MyEG's Zetrix, Web3Labs, And Summer Capital To Advance HK's Web3 Initiatives
https://www.businesstoday.com.my/20
24/01/22/myegs-zetrix-web3labs-and-summer-capital-to-advance-hks-web3-initiatives/

CGS-CIMB: East Malaysia store expansion to drive growth of MR DIY
https://theedgemalaysia.com/node/697152

AHB bolsters EV business with acquisition of KSP Vista
https://www.nst.com.my/business/corporate/2024/01/998777/ahb-bolsters-ev-business-acquisition-ksp-vista

Evergreen Max Cash Capital adds two pawnshops to network
https://www.thestar.com.my/business/business-news/2024/01/05/evergreen-max-cash-capital-adds-two-pawnshops-to-network

MyNews upgraded as analysts turn upbeat on signs of positive turnaround - TP 0.68 by RHB & 0.62 by Maybank
https://theedgemalaysia.com/node/694939

MULTIPLE PROPOSALS SYSTECH BHD ("SYSTECH" OR THE "COMPANY") (I) PROPOSED SHARES ISSUANCE; (II) PROPOSED ACQUISITION; (III) PROPOSED BONUS ISSUE OF WARRANTS; AND (IV) PROPOSED ESS (COLLECTIVELY, REFERRED TO AS THE "PROPOSALS")
https://www.malaysiastock.biz/Company-Announcement.aspx?id=1529647

Blockchain solutions drive MyEG’s earnings
https://www.thestar.com.my/business/business-news/2023/12/21/blockchain-solutions-drive-myegs-earnings

Southern Cable set to resume uptrend, says Rakuten Trade
https://theedgemalaysia.com/node/694762

Commentary of Prospects - Q3 Sep 2023

Southern Cable's prospects are supported by the growing demand for cables and wires in
Malaysia, in line with ongoing development and infrastructure projects.

As at 30 September 2023, the Group’s orders in hand amounted to RM893.2 million, and are
expected to be fulfilled by 2026. These orders include the supply of underground cables and
conductors to Tenaga Nasional Berhad and Sarawak Energy Berhad, the supply of rectifier and
battery systems to Telekom Malaysia Berhad, as well as purchase orders from EPCC
(Engineering Procurement Construction Commissioning) contractors, resellers, and others.

Notably, the Group’s annual cable and wire production capacity has increased by 21% to
40,780 km from 33,780 km in the previous financial year ended 31 December 2022 due to
installation of new machinery, enabling the Group to deliver more orders and enhance its
revenue.

Meanwhile, Southern Cable is aiming to capitalise on the growing demand for power cables
and wires from Malaysia’s National Energy Transition Roadmap (NETR) objectives.

On 27 July 2023, the Ministry of Economy of Malaysia unveiled 10 flagship projects under
Phase 1 of the NETR, encompassing solar farms, hydrogen energy, and others, with anticipated
investments of RM25 billion. A projected total investment of between RM435 billion to RM1.85
trillion until 2050 will be required to enable Malaysia to achieve its target of 70% Renewal
Energy (RE) capacity mix, which involves investment in RE generation sources, strengthening
of grid infrastructure including transmission lines enhancement, and energy storage systems,
among others.

To this end, Southern Cable has supplied a wide range of power cables and wires used in
power transmission and distribution networks, including TÜV SÜD certified solar photovoltaic
cables. These products have been used by EPCC solar players in projects such as Large Scale
Solar, positioning the Group favourably to tap into the renewable energy market.

Barring unforeseen circumstances, Southern Cable’s outlook remains positive for the financial
year ending 31 December 2023.

SMRT set to resume uptrend, says RHB Retail Research
https://theedgemalaysia.com/node/694320

SMRT earnings growth gaining momentum
https://www.thestar.com.my/business/business-news/2023/12/15/smrt-earnings-growth-gaining-momentum

Cabinet has approved construction of West Ipoh Span Expressway, says Perak MB
https://theedgemalaysia.com/node/693906

EPF CEO Amir Hamzah appointed as finance minister II in Cabinet reshuffle
https://theedgemalaysia.com/node/693537

The company also just secured a contract from Malaysia Airports Holdings Bhd to supply and install aeronautical ground lighting control systems for six airports in the country - HLIB

ITMAX reports strong 3Q results, contract wins
https://www.thestar.com.my/business/business-news/2023/12/12/itmax-reports-strong-3q-results-contract-wins

In several announcements released in December, My EG Services (MYEG) officially launched Zcert with its JV partner Beitou Investment Group, secured a RM108m foreign worker accommodation project in Penang, and received approval from JPJ for its MYEG Drive Testing System’s pilot phase.

COMMENT



 Potentially huge returns from the launch of Zcert with China’s Beitou Investment Group. Over the weekend, MYEG officially launched ZCert, a cross-border credential service on Zetrix-XInghuo Blockchain with its 50% JV partner - China's state-owned Guangxi Beitou IT Innovation Technology Investment Group (Beitou Investment Group). The launching of Zcert and signing ceremony was witnessed by Deputy Prime Minister, Dato’ Seri Ahmad Zahid Bin Haimidi. The JV between MYEG and Beitou Investment Group offers cross-border credential service for China domestic users to digitise their driving license and other documents on the Zetrix-Xinghuo blockchain.
 Zcert’s cross-border digitisation credential service for driving licences can theoretically raise MYEG’s revenue by >RM100m. For the driver licence business segment, Zcert will offer a digitised-blockchain (and competing) version of China’s first and largest outbound car rental platform Zuzuche’s services that provide a translated and notarised version of china's driving licence. We assess the earnings potential to be huge for MYEG, given the guesstimate Zuzuche’s international car rental users of c.11m. Assuming around 20% of these 11m users convert into using Zcert which charges around Rmb220 (vs Zuzuche’s Rmb250), potential revenue accretion to MYEG’s 50% stake could be as much as RM159m. We expect Zcert to soon launch more digitised-blockchain services.

 In Malaysia, MYEG secures a RM108m foreign worker accommodation project in Penang. On 6 Dec 23, MYEG’s subsidiary MYEG Lodging (NC) Sdn Bhd signed a lease agreement with the Penang Development Corporation (PDC) to build a RM108m foreign workers’ housing in Batu Kawan. The workers’ village project, located at Batu Kawan Industrial Park 3 (BKIP3), is expected to house at least 8,000 foreign workers upon completion. We estimate that the RM108m foreign worker accommodation project in Penang will contribute annually >RM30m revenue and c.RM10m pre-tax profit upon completion by 2026 (Assumptions: 8,000 foreign workers, RM400/month rental).  Receives approval from JPJ for MyEG Drive Testing System’s (MYDTS) pilot phase. Earlier this month, MYEG received approval from the Road Transport Department (JPJ) to proceed with the pilot phase of the MyEG Drive Testing System (MYDTS) involving actual test candidates. The pilot phase will run from 18 Dec 23 till 16 Feb 24 before being commercially launched. Our earlier assessments revealed that e-testing may potentially lift MYEG’s profit by RM40m-50m upon commercial rollout.
 Zetrix possesses huge option value on earnings and valuations for MYEG upon maturity. We had previously assessed that Zetrix’s services can produce annual revenues of >RM650m via charging gas fees, service fees per credentials/contract and annual fees upon optimal utilisation of Ztrade services. Zetrix will also charge gas fees on its cross-border supply chain traceability and financing services after it is launched tentatively in 4Q23.

UOB KayHian 11122023

Hiap Teck to spend RM53.2 mil under steel-making JV’s cash call
https://theedgemalaysia.com/node/692947

Gold soars past $2,100 to new record — and analysts don’t expect it to stop there
https://www.cnbc.com/2023/12/04/gold-prices-set-for-new-highs-amid-economic-geopolitical-uncertainty.html

MyEG gets JPJ nod to start driving test system on actual candidates
https://theedgemalaysia.com/node/692051

MN Holdings posts best quarterly performance since listing
https://www.thestar.com.my/business/business-news/2023/11/29/mn-holdings-posts-best-quarterly-performance-since-listing

One Stop Engineering Solution Provider
https://www.youtube.com/watch?v=M8x4ZP5QACk

Malaysia’s Leading Total Packaging and Display Solutions Provider
https://www.youtube.com/watch?v=EArBRzQxm_4

Systech eyes more M&As
https://www.thestar.com.my/business/business-news/2023/11/27/systech-eyes-more-mas

QoQ profits excluding one-off listing expenses in respect of IPO amounting to RM1.671 million should be 4.651m against previous Q of 3.452m, an increased of 1.199m or 34.7 % .

Comments on Prospects - Q3 Sep 23 Report dd 23112023

The Group continues to enjoy a healthy orderbook replenishment rate across the Ultra High Purity, Process Engineering, and General Contracting Segments. During the 9-month ended 30 September 2023, the Group has secured new contracts amounting to RM858 million in 2023. Including the projects carried forward from the previous years, our total orderbook stood at RM2.56 billion of which RM1.51 billion remains outstanding.

Prospects in the Industrial Gases division remain positive as demand for liquid carbon dioxide (LCO2) increases in tandem with the recovery in economic activities. We are also experiencing growing export demand for LCO2 from Oceania countries. To cater this increased demand, our second LCO2 plant in Kerteh will more than double the production capacity, further enhancing the industrial gas division's financial performance starting from 4Q2023.

Additionally, the commencement of our second on-site gas supply scheme in 1Q2024, to supply hydrogen, nitrogen, and oxygen for an optoelectronics semiconductor giant in Kulim, Kedah, will also contribute positively to the Group's earnings visibility over the next ten years.

Barring unforeseen circumstances, we are confident of delivering a commendable financial performance in FY2023 as we execute our existing orderbook across our key operating markets.

https://www.businesstoday.com.my/2022/04/26/kelington-could-generate-rm180-million-from-gas-supply-deal-for-semicon-plant-in-kedah/

KGB’s 9MFY23 results beat expectations on margin expansion
stemming from account finalisation of a turnkey job and
accelerated billings from high-margin ultra-high purity gas system
projects. We raise our FY23-24F net profit forecasts by 45% and
53%, respectively, lift our TP by 53% to RM3.28 (from RM2.15) and
reiterate our OUTPERFORM call - Kenanga Research 24112023.

Kelington Group's 3Q profit doubles to RM31.7m amid high demand for industrial gases
https://theedgemalaysia.com/node/691134

Number Of Tourists To Penang Increased By 138.37%
https://www.businesstoday.com.my/2023/11/22/t7-global-posts-a-125-4-surge-in-patami-on-revenue-from-new-mopu-unit/

As gold prices rise, Malaysians turn to pawn shops for fast cash to cope with diminishing savings
https://www.malaymail.com/news/malaysia/2023/11/22/as-gold-prices-rise-malaysians-turn-to-pawn-shops-for-fast-cash-to-cope-with-diminishing-savings/103291

RM80 mil for Mimos to expedite Digital ID programme, says PM
https://theedgemalaysia.com/node/690788

HLIB expects ITMAX to win more jobs in Johor
https://theedgemalaysia.com/node/690841

Apex starts coverage on Infoline, sets RM1.15 target price
https://theedgemalaysia.com/node/690832

Analysts lift MyEG’s TP, earnings on Zetrix token sales, e-government contract extensions
https://theedgemalaysia.com/node/690712

The Prestige Hotel is a premium homegrown hospitality label located in the heart of the Georgetown UNESCO world heritage site. Inspired by its colonial Victorian heritage, it welcomes the urbane traveler to a magical contemporized colonial scene, with 162 rooms, an all-day dining outlet, an arcade with a mix of retail outlets, event spaces and a rooftop infinity pool. 25 minutes away from Penang International Airport, within walking distance to Penang’s cultural hotspots and popular gourmet finds, together with Prestige’ bespoke hospitality, The Prestige Hotel brings local inspiration to life for intrepid world travelers seeking to experience local charm at its best. It is the perfect designer living space for the busy business executive and the contemporary world traveler of today.
https://theprestige.my/

Hiap Teck's Eastern Steel to shift product focus to hot rolled coils next year
https://theedgemalaysia.com/node/689303

IoT In Our Smart Cities
https://www.businesstoday.com.my/2023/11/07/iot-in-our-smart-cities/

MyEG’s Zetrix ‘Game Changing’ Financing Pilot With Chinese Banks
https://www.businesstoday.com.my/2023/11/03/myegs-zetrix-game-changing-financing-pilot-with-chinese-banks/

Edge Weekly dd 30/10/2023 features articles on 'Data Centre Industry Booms'. MN Holdings is one of the co listed.

Data Centre Providers To Have Greater Presence In Malaysia – CHINT Global
https://www.businesstoday.com.my/2023/10/27/data-centre-providers-to-have-greater-presence-in-malaysia-chint-global/

⭐️MN Holdings TP 0.59⭐️

Record earnings on the making


With a robust order book and aplenty replenishment opportunities on the horizon, MNH is poised to achieve record-high earnings in FY23. We have revised our FY24 and FY25 forecasts upward by 32% and 66%, respectively. Our fair value for MNH now stands at RM0.59, up from the previous RM0.45, based on a 12x FY25f EPS of 4.9 sen. Given MNH's significant presence in the solar and data centre industries, the stock appears to be undervalued, especially with its forward P/E ratio of 8.8x.

HLIB Research 26102023

One million ZTX Cryptocurrency IEO at 5.00 USDT per token, or a total of 5,000,000 USDT over subscribed.

MyEG expects to complete immigration services system enhancement in a month
https://theedgemalaysia.com/node/687059

Can Mnhldg breakout of historical high of 0.40 set on 14/2/2023 ?

More importantly, in our view, is the timeline for MyEG’s ZTrade platform to go live, after
which all inbound customs trade between Malaysia and China will likely be processed
via the platform. We understand the pilot run has been successful and following the
conclusion of the recent bilateral agreement between Malaysia’s Ministry of International
Trade and Industry (MITI) and Chinese Customs, the service is now undergoing final
administration formalities prior to the official launch, likely by end-Oct 2023.

● Upon going live, this could provide a decent recurring revenue for MyEG through a fixed
fee generated for each Certificate of Origin (CO) issued. We expect ZTrade to anchor
the growth for MyEG’s blockchain segment, complemented by other ancillary services,
such as digital identity credential and Zetrix token sales.

CgsCimb 18102023

MyEG Receives 2-Year Contract Extention For Immigration From Home Ministry
https://www.businesstoday.com.my/2023/10/17/myeg-receives-2-year-contract-extention-for-immigration-from-home-ministry/

MyEG’s blockchain infra Zetrix to issue cryptocurrency via initial exchange offering
https://theedgemalaysia.com/node/686517

State Smart Traffic Deal Can Propel ITMax To Next Level: HLIB
https://www.businesstoday.com.my/2023/10/11/state-smart-traffic-deal-can-propel-itmax-to-next-level-hlib/