MQ Market Updates

MQ Market Updates - 15 March 2023

MQ Trader
Publish date: Wed, 15 Mar 2023, 05:21 PM


Global packaging manufacturer and leading property developer Scientex Bhd registered healthy bottom line growth in the second quarter (Q2) ended January 31, 2023 (FY23), with13.5 per cent higher net profit to RM106.3 million from RM93.7 million in the same quarter last year. The positive earnings were due to a better product mix with consumer packaging, improved property sales, and steady construction progress. (NST)

Panasonic Malaysia aims to enhance productivity and efficiency of businesses of all sectors, which will ultimately benefit both consumers and businesses, through its latest integrated solutions. Panasonic realises that everybody was fighting the battle of keeping costs down. Hence, its deployment was very much focused on wireless solutions and retrofit solutions, said Panasonic Malaysia country head of system solutions and head of strategic B2B department Seelan Kandasamy. (NST)

IHH Healthcare Bhd has invested in Intellect, Asia's leading digital mental health company, to expand its continuum of care for corporate clients and employees and catalyse a healthier society. The investment will accelerate Intellect's growth across the region. As a strategic investor, IHH Healthcare will co-develop and customise digital mental health programmes with Intellect for its patients, corporate clients, and staff. (NST)

Tenaga Nasional Bhd announced its final single-tier dividend of 26 sen per ordinary share for the financial year ended Dec 31, 2022, to be paid on April 14. The ex-date was March 30 and the entitlement date on March 31, said the group in its filing on Wednesday (March 15). This is the second dividend paid for the financial year, after the group announced an interim single-tier dividend of 20 sen per ordinary share on Sept 13, 2022. (TheEdge)

Kobay Technology Bhd's incubation stage for its two new projects that dragged the manufacturing division will likely dissipate soon as the factories are fit for production. Hong Leong Investment Bank Bhd (HLIB Research) said in a note that the company's manufacturing division weakened by 21 per cent year-on-year (YoY) for its second quarter (Q2) financial year 2023 (FY23) on the back of the slowdown of the semiconductor market and softened new orders. (NST)

Oppstar Bhd made its debut on the ACE Market of Bursa Malaysia at RM2.05 a share, a 225.4% premium over the issue price of 63 sen a share. The stock was the most actively traded with 19.26 million shares exchanging hands. The integrated circuit design service provider successfully raised RM104.25mil from the initial public offering exercise via the issuance of 165.48 million new ordinary shares. (TheStar)

Eco-Shop Marketing Sdn Bhd, a budget retail chain in Malaysia, is weighing an initial public offering (IPO) that could raise as much as RM800 million, according to people with knowledge of the matter. The company, which is backed by private equity firm Creador Capital Group, is working with financial advisers on the planned first-time share sale, said the people, asking not to be identified as the process is private. A listing could take place as early as September, the people said. (TheEdge)

Activity levels in the oil and gas (O&G) sector are expected to remain strong with the guided capital expenditure (capex) of RM300bil by Petroliam Nasional Bhd (PETRONAS) for the next five years. Kenanga Research said it expects the upcoming quarters to see continued recovery trajectory in local activity levels. (TheStar)

CGS-CIMB Research has maintained its negative outlook for MSM Malaysia Holdings Bhd due to the latter's inability to raise the utilisation of its Johor refinery and its rising input and finance costs. The research firm noted that MSM revealed that boiler replacement works at its Johor refinery was on track for completion by end-March 2023. (NST)

MIDF Research is optimistic over Fraser & Neave Holdings Bhd's (F&N) extended right to increase its market share in the liquid milk segment. The food and beverage group said in a statement it had obtained the extended rights from Société Des Produits Nestlé S.A. and Nestec S.A. (Nestlé) as the exclusive manufacturer and distributor of Nestlé’s Bear Brand sterilised milk in Cambodia, from March 1, 2023, to 2037. (TheStar)

Source: New Straits Times, The Edge Markets, The Star 15 Mar 2023

Need a Trading Account?

Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!

Contact Us

Please do not hesitate to contact us if you have any inquiries:


Related Stocks
Market Buzz
Be the first to like this. Showing 0 of 0 comments

Post a Comment