MQ Market Updates

MQ Market Updates - 23 March 2023

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Publish date: Thu, 23 Mar 2023, 05:30 PM

Kenanga Research said Genting Malaysia Bhd (GenM)’s share price is on the verge of overcoming a negative sloping trendline, triggered by the positive signals arising from: (i) RSI indicator climbing out from oversold territory, and (ii) stock on the verge of moving back above the lower Bollinger Band. (TheEdge)

Sime Darby Property Bhd has won two awards at the Malaysia Property Award 2022 organised by Fiabci-Malaysia International Real Estate Federation. Sime Darby Property’s Cantara Residences won the Residential Mid-Rise category, whereas the City of Elmina won the Masterplan category. (TheEdge)

MMC Corporation Bhd, through Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), will be spending RM3 billion over the next five years to upgrade its current terminal footprint including automation, digitization, and other port facilities. (NST)

Eco World International Bhd's first quarter of 2023 core net loss RM4.8 million (versus RM54 million net loss in Q4 FY22) is lower than expected, Maybank Investment Bank Group (Maybank IBG) said. This accounted for just 13 per cent/16 per cent of Maybank IBG/consensus FY23 net loss forecasts. (NST)

RHB Research said there needs to be more clarity on the demand outlook for VS Industry Bhd, despite the company's expectations that volume is bottoming out. (TheStar)

Rakuten Trade has a “buy” rating on Kerjaya Prospek Group Bhd at RM1.17 with a target price of RM1.70 and said it expects Kerjaya’s FY2023 and FY2204 earnings to improve by 23.5% and 20.0% to RM139.2 million and RM167.0 million, buoyed by higher revenue recognition. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 23 Mar 2023

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