MQ Market Updates

MQ Market Updates - 27 November 2023

MQ Trader
Publish date: Mon, 27 Nov 2023, 04:55 PM

Panda Eco System Bhd made it debut on the ACE Market of Bursa Malaysia at 29 sen a share, a 13 sen or 81.25% premium to the initial public offering (IPO) price of 16 sen a share. (TheStar)

AirAsia today announced a significant increase in services between China-Malaysia and India-Malaysia, totalling 230 weekly flights starting in the first quarter of 2024, offering up to 5.2 million seats per year. (NST)

OSK Holdings Bhd anticipates a satisfactory performance for the remainder of the year as it continues to implement long-term strategies and financial prudence. (TheStar)

Sime Darby Bhd more than doubled its net profit to RM589 million for the first quarter ended Sept 30  2023 (Q1 FY24), from RM207.0 million a year ago. (NST)

Tenaga Nasional Bhd’s shares retreated in early trade on Monday, after the utilities giant’s latest quarterly results missed analysts’ forecasts, as costs ran above expectations despite higher electricity demand and easing risk over collections from the government. (TheEdge)

TA Securities has upgraded its recommendation on flat steel products maker CSC Steel Holdings Bhd to "buy" at RM1.23, and raised its target price to RM1.38 (previously RM1.23), based on nine times earnings estimated for the financial year ending Dec 31, 2024 (FY2024), on the back of an improved outlook for the domestic steel industry, following the government’s intervention to address challenges faced by local steel players.  (TheEdge)

The strong rebound in D&O Green Technologies Bhd’s financial results with record quarterly revenue in the third quarter ended September (3QFY2023) affirmed that the worst is over for the automotive LED manufacturer, according to analysts. (TheEdge)

Analysts expect MBM Resources Bhd (MBMR) to continue leveraging the strong Perodua sales into the financial year ending Dec 31, 2024 (FY2024), given the high order backlog. (TheEdge)

Capital A Bhd's low-cost carrier AirAsia has taken three of Airbus A320 aircraft which were previously flown by MYAirline Sdn Bhd. (NST)

Oppstar Bhd's share price skidded to its lowest ever at RM1.39 in Monday morning trade, after its financial results for the first six months ended Sept 30, 2023 (1HFY2024) missed expectations. (TheEdge)

S P Setia Bhd is well on track to hit its sales target of RM4.2bil for its current financial year ending Dec 31, 2023, given the strong demand for its products so far. (TheStar)

PIE Industrial Bhd expects its turnover for the financial year 2023 (FY23) to surpass the previous year’s performance. (TheStar)

IOI Properties Group Bhd's share price fell 6.36% or 11 sen to an intra-morning low of RM1.62, despite analysts expressing their optimism on its earnings outlook. (TheEdge)

RHB Bank Bhd's net profit rose 16.4 per cent year-on-year to RM2.22 billion for the nine months ended Sept 30 2023. (NST)

Hong Leong Investment Bank Bhd (HLIB) research has maintained its Buy call and target price on Aeon Co. (M) Bhd, confident on its sales trajectory after third quarter ended September 30, 2023's earnings came broadly within expectations. (NST)


Source: New Straits TimesThe Edge Markets The Star 27 November 2023

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