NEWS HIGHLIGHTS

• Sentral REIT's 4Q NPI up 30%, declares 0.7 sen DPU
• AirAsia X achieves 80% passenger load factor for FY2023
• YNH Property says it has received offers for its Mont Kiara mall
• Hextar Capital to divest stakes in Unigel units, refocus resources on core businesses
• Agmo sets up JV company to provide machine learning and AIpowered solutions

MACRO BITS

• Chaos in Red Sea starting to bite into companies’ profits
• Tourism sector capable of generating economy, creating spillover effects, says Anwar
• Miti sets up independent committee for iron and steel industry
• Miti will review target of 10,000 EV charging stations by 2025 — Zafrul
• Water tariff adjustment: Armizan hopes traders will not increase sale prices
• Global outlier holds firm, yet eyes a hawkish turn (See Economic Viewpoint: Bank of Japan Monetary Policy Decision)
• China to further expand oilseed production to reduce import reliance
• Thailand says GDP growth fell in 2023, piling rate-cut pressure
• Singapore Dec core inflation at 3.3% y-o-y
• Unemployment rose in nearly a third of U.S. states in December
• China's 'lackluster recovery' not having strong effect on US economy -Brainard
• Fed to cut in Q2, probably June; economists less dovish than markets - Reuters poll
• ECB says banks see eurozone credit demand bottoming out
• Bank of England set to start on path towards interest rate cuts

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

• Sector Update: Telecommunication
• Results Note: AXREIT
• Company Update: KPJ, MAHSING
• Economic Viewpoint: Bank of Japan Monetary Policy Decision

Source: Kenanga Research - 24 Jan 2024