MQ Market Updates

MQ Market Updates - 14 April 2023

MQ Trader
Publish date: Fri, 14 Apr 2023, 05:11 PM

Autocount Dotcom Bhd is raising about RM30.88 million under its initial public offering (IPO). Autocount today launched its prospectus in conjuction with the lising on Bursa Malaysia's ACE Market. The IPO consists of a public offering of 93.6 million new  shares and an offer for sale of 44.0 million existing shares, both at 33 sen each. (NST)

Hong Seng Consolidated Bhd has reiterated its stand to focus on its electric vehicle (EV) batteries manufacturing project with partners EoCell Inc. Hong Seng clarified that it was keen to pursue electrification revolution despite the mutual termination of the shares sales agreement (SSA) wirh CSH Alliance Bhd for the proposed acquisition of Alliance EV Sdn Bhd. (NST)

Hong Leong Bank Bhd (HLB) is seeking to double the number of loans related to environment, social and governance (ESG) financing to small and medium enterprises (SME) in the next three to five years. Head of SME banking Kevin Ng said to date HLB had approved close to RM2.7 billion. (NST)

Ancom Nylex Bhd’s proposed acquisition of a substantial stake in an industrial chemical distributor could strengthen the company’s procurement process. The acquisition, which would come with a profit guarantee was another positive for the chemical manufacturer. (TheStar)

Bintai Kinden Corporation Bhd said its sub-subsidiary Johnson Medical International Sdn Bhd (JMI), which is facing a RM27.7 million liquidated damages claim, has good grounds of defence. (TheEdge)

LBS Bina Group Bhd, through indirect subsidiary Leaptec Engineering Sdn Bhd, plans to undertake a shipyard project that will cost about RM2 billion in Tanjung Bruas Melaka. Leaptec signed a Memorandum of Understanding (MoU) with Desan Deniz Ins. San. A.S on the potential project today. (NST)

Kenanga Research came away from a recent engagement with YTL Power International Bhd feeling positive on its earnings outlook. The firm said over the near term, YTL Power's earnings would be driven by improved profitability of PowerSeraya, while a planned RM15 billion YTL. (NST)

DKSH Holdings (Malaysia) Bhd's consumer goods business unit has been appointed the distributor of Cavico's entire range of Oradex oral care products in Malaysia. (TheStar)

S P Setia Bhd has teamed up with social enterprise Kloth Cares for a fabric upcycling drive, as part of its environmental, social and governance (ESG) initiatives, and in conjunction with its Raya theme for 2023, Lembaran Baru, Setia Bersama. (TheEdge)

Maxim Global Bhd is planning to pay RM271.03 million to acquire properties, including parcels of land, from its major shareholders and directors. (TheEdge)


Source: New Straits Times, The Edge Markets, The Star 14 Apr 2023

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