NEWS HIGHLIGHTS

• Starbucks boycott drags Berjaya Food into 2Q red, record low earnings

• LBS Bina posts 31% growth in 4Q earnings amid higher contribution from property business

• Perdana Petroleum’s FY2023 net profit jumps nearly four-fold on better charter rates

• Citaglobal, Reneuco get 30-year concession for ECRL electricity supply

• Kobay Technology 2Q net profit plunges 66%, expects better days ahead

MACRO BITS

• China-Europe ties worsen on Ukraine and disputes over trade

• Plans afoot to strengthen investments from both Japan and Malaysia in 2024

• Malaysian producers urged to tap into Japan's growing halal market — Ahmad Zahid

• PM to chair special meeting on Johor-Singapore SEZ next week, says Fahmi

• Fahmi says unwise to raise OPR to strengthen ringgit

• Manufacturing industry at 79.8% operating capacity in 4Q2023 — DOSM

• Indonesia holds rate to preserve rupiah amid lingering risks

• Chinese banks approve USD17.0b of 'whitelist' loans for property sector

• Japan downgrades view of economy on sluggish consumer spending

• Japan's exports perk up but souring factory mood darkens outlook

• Thai central bank seen defying pressure from PM to urgently cut rate

• US inflation data for January made Fed's job 'harder,' Barkin says

• US mortgage rates jump above 7.0% for first time since December

• EU's unprecedented recovery fund has spurred growth

• Bank of England's Dhingra: Delaying rate cuts carries real costs

IDEAS OF THE DAY

• Results Note: CIMB (CIMB Niaga), HLIND, KOTRA, MPI, SAMAIDEN, SIME, SUNWAY

• Company Update: SUNCON

• Economic Viewpoint: BI Rate Decision

Source: Kenanga Research - 22 Feb 2024