Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
Post a Comment

Key Corporate Updates from Malaysia

Business Highlights: Capital A, ABM Fujiya, Protasco, LFE Corp, TAS Offshore, Kerjaya Prospek, Leong Hup, Tan Chong Motor, MNRB, Pantech

KUALA LUMPUR (Oct 23): Here are some key business updates from Wednesday:

  1. Capital A Bhd has terminated a US$1.15 billion deal to inject its AirAsia brand management business into a Nasdaq-listed SPAC, Aetherium Acquisition Corp, due to Aetherium receiving a delisting notice from Nasdaq. The notice followed Aetherium’s failure to comply with Nasdaq’s minimum market value and shareholder requirements.

  2. ABM Fujiya Bhd announced that Chinese battery maker Jujiang Power Technology Co Ltd will acquire a 40% stake in its subsidiary Fuya Energy Sdn Bhd for RM48 million, which will be offset against earlier cash advances. The deal is expected to boost ABM Fujiya’s revenue and profits.

  3. Protasco Bhd reported a revision in its affordable housing project awarded by Perbadanan Putrajaya. The number of units for the two projects under the Residensi Prihatin scheme has been reduced slightly, with both projects being renamed.

  4. LFE Corp Bhd secured an RM81.71 million construction contract for main building works through its subsidiary LFE Engineering Sdn Bhd. The contract was awarded by Puncakcity Development Sdn Bhd and will be completed in 32 months.

  5. TAS Offshore Bhd announced shipbuilding contracts for eight tugboats valued at RM49.1 million from new Indonesian customers. The tugboats are expected to be delivered in Q2 2025.

  6. Kerjaya Prospek Group Bhd has won two contracts totaling RM34.4 million for developments in Penang and Selangor. The contracts involve piling, earthworks, and structural works, with both projects starting in November 2024.

  7. Leong Hup International Bhd has appointed Chong Choon Yeng as its new CFO, effective January 2025. Chong previously held the same position at Tan Chong Motor Holdings Bhd.

  8. MNRB Holdings Bhd reported a doubling of its net profit for Q2 to RM92.74 million, attributed to an increase in insurance service earnings. The company declared a 10 sen per share dividend, up from 4.45 sen a year earlier.

  9. Pantech Group Holdings Bhd posted a 27% drop in Q2 net profit to RM20.74 million, due to lower sales in domestic oil and gas projects and foreign exchange losses. However, the company maintained a second interim dividend of 1.5 sen per share.

These updates provide insights into the latest corporate moves across various sectors in Malaysia.

Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

3M Raises Profit Forecast After Beating Quarterly Estimates on Electronics Demand

3M Co raised the lower end of its full-year adjusted profit forecast after strong demand for electronics and industrial products helped the company surpass quarterly profit expectations. Shares of 3M were up 4.2% at $140.5 in pre-market trading. An increase in demand for electronics used in vehicles and mobile phones boosted profits for the company, which had previously faced challenges as high inflation led consumers to delay major purchases. The industrial sector is also expected to benefit from the recent US Federal Reserve decision to cut borrowing costs in September, encouraging more consumer spending. 3M has implemented cost-cutting measures, including job reductions and spinning off its healthcare business, to counter the impact of a demand slowdown . Key highlights from the report: Sales in the transportation and electronics segment grew 1.8% year-on-year. Sales in the safety and industrial segment , which produces adhesives for industrial use, increased by 0.5% . 3M&
Post a Comment
Read more

A Trader’s Guide to Navigating Malaysia's Budget 2025

Malaysia’s consumer and construction stocks are poised to benefit from Budget 2025 , as Prime Minister Datuk Seri Anwar Ibrahim is expected to introduce measures aimed at lowering the cost of living and unveiling infrastructure projects . As both Prime Minister and Finance Minister, Anwar will likely announce targeted cash transfers , civil servant salary hikes , and potential revisions to the minimum wage to boost disposable incomes, supporting retailers like AEON Co and Padini Holdings . In the construction sector, analysts expect the budget to include new projects such as the Mass Rapid Transit Line 3 and Pan Borneo Highway , with companies like Gamuda , Sunway Construction , and IJM Corp set to benefit. There could also be updates on the Johor-Singapore High-Speed Rail and cross-border economic zones, reigniting interest in the sector. The government’s commitment to growing semiconductor industries may lead to support measures for data center developers like YTL Power Int
Post a Comment
Read more